# EDGAR Filing Document

**Accession Number:** 0000845376
**File Stem:** 0001193125-26-283529
**Filing Date:** 2026-6
**Character Count:** 801619
**Document Hash:** 9aeaad71fd345c41bb692579caf1eecd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-283529.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0001193125-26-283529

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260625

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN FUNDS SHORT-TERM TAX-EXEMPT BOND FUND
- **CENTRAL INDEX KEY:** 0000845376

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05750
- **FILM NUMBER:** 261123684

**BUSINESS ADDRESS:**
- **STREET 1:** 333 S HOPE ST - 55TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 213-486-9200

**MAIL ADDRESS:**
- **STREET 1:** 333 S HOPE ST - 55TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TAX EXEMPT MONEY FUND OF AMERICA
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### AMERICAN FUNDS SHORT-TERM TAX-EXEMPT BOND FUND (Series ID: S000009233)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000025125 | Class A      | ASTEX           |
| C000079135 | Class F-1    | FSTTX           |
| C000079136 | Class F-2    | ASTFX           |
| C000179995 | Class F-3    | SFTEX           |
| C000186457 | Class R-6    |  |
| C000189424 | Class T      | TAFSX           |

## Nport-Ex

![](imga715d9c11.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**American Funds Short-Term Tax-Exempt Bond**

**Fund**<sup>®</sup>

Investment portfolio

April 30, 2026

**unaudited**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 91.01%<br> **Alabama 4.09%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Lower Alabama Gas Dist., Gas Project Rev. Ref. Bonds, Series 2025-A, 5.00% 12/1/2033 (put 9/1/2033)  | USD2,435 | $2548 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2026-E, 5.00% 7/1/2033  | 5020 | 5277 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2022-B-1, 4.00% 4/1/2053 (put 10/1/2027)  | 6000 | 6054 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2024-C, 5.00% 5/1/2055 (put 7/1/2031)  | 3405 | 3611 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2024-A, 5.25% 5/1/2055 (put 9/1/2032)  | 2000 | 2076 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2024-B, 5.00% 10/1/2055 (put 9/1/2032)  | 1000 | 1047 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (BP P.L.C), Series 2024-D, 5.00% 3/1/2055 (put 11/1/2034)  | 8045 | 8576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 6), Series 2021-B, 4.00% 10/1/2052 (put 12/1/<br> 2026)  | 13500 | 13565 |
| Black Belt Energy Gas Dist., Gas Project Rev. Ref. Bonds, Series 2025-D, 5.00% 12/1/2055 (put 8/1/2035)  | 1960 | 2079 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2022-D-1, 4.00% 7/1/2052 (put 6/1/2027)  | 4595 | 4643 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2022-F, 5.50% 11/1/2053 (put 12/1/2028)  | 440 | 460 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2023-B, 5.25% 12/1/2053 (put 12/1/2026)  | 2930 | 3150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Southeast, Energy Supply Rev. Bonds (A Cooperative Dist.), Series 2023-A-1, 5.50% 11/1/2053 (put 1/1/<br> 2031)  | 2350 | 2525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Southeast, Energy Supply Rev. Bonds (A Cooperative Dist.), Series 2024-B, 5.25% 7/1/2054 (put 6/1/<br> 2032)  | 1670 | 1784 |
| Federal Aid Highway Fin. Auth., Special Obligation Rev. Bonds, Series 2016-A, 5.00% 9/1/2033 (preref. 9/1/2026)  | 1500 | 1511 |
| Federal Aid Highway Fin. Auth., Special Obligation Rev. Bonds, Series 2017-A, 4.00% 6/1/2037 (preref. 9/1/2027)  | 1780 | 1812 |
| City of Hoover, GO Warrants, Series 2016, 4.00% 7/1/2033 (preref. 7/1/2026)  | 1000 | 1002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Auth., Multi Family Housing Rev. Bonds (Cooper Green Homes Project), Series 2024-C, 5.00% <br> 2/1/2029 (put 2/1/2028)  | 485 | 501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Auth., Multi Family Housing Rev. Bonds (Forest Hills Village Project), Series 2024-A, 5.00% <br> 11/1/2027 (put 11/1/2026)  | 1000 | 1009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Auth., Multi Family Housing Rev. Bonds (Fred Marshall Project), Series 2025-F, 3.15% 12/1/2028 (put <br> 6/1/2028)  | 550 | 551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Mobile, Industrial Dev. Board, Pollution Control Rev. Bonds (Alabama Power Co. Barry Plant Project), Series <br> 2008, 2.75% 7/15/2034 (put 3/15/2029)  | 1035 | 1026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South East Gas Supply Dist., Gas Supply Rev. Ref. Bonds (Project No. 1), Series 2024-A, 5.00% 8/1/2054 (put 4/1/<br> 2032)  | 2400 | 2558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 2), Series 2021-B-1, 4.00% 12/1/2051 (put <br> 12/1/2031)  | 450 | 453 |
| Southeast Energy Auth., Cooperative Dist., Energy Supply Rev. Bonds, Series 2025-E, 5.00% 10/1/2030  | 7830 | 8372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southeast Energy Auth., Cooperative Dist., Energy Supply Rev. Bonds, Series 2025-B, 5.25% 3/1/2055 (put 1/1/<br> 2033)  | 5005 | 5181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southeast Energy Auth., Cooperative Dist., Energy Supply Rev. Bonds, Series 2025-C, 5.00% 5/1/2055 <br>(put 2/1/2031)  | 10075 | 10725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southeast Energy Auth., Cooperative Dist., Gas Supply Rev. Bonds, Series 2025-F, 5.25% 11/1/2055 <br>(put 11/1/2035)  | 2000 | 2164 |
|  |  | 94260 |
| **Alaska 0.63%** |  |  |
| GO Rev. Ref. Bonds, Series 2025-3, 5.00% 10/1/2026  | 300 | 303 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2016-A, 2.15% 6/1/2026  | 495 | 494 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2020-A, 3.25% 12/1/2044  | 1935 | 1919 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2022-C, 5.75% 12/1/2052  | 965 | 1020 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 1 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Alaska (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2024-A, 6.00% 6/1/2054  | USD400 | $431 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 6/1/2026  | 550 | 551 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 12/1/2026  | 725 | 734 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 6/1/2027  | 590 | 604 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 12/1/2027  | 600 | 621 |
| Industrial Dev. and Export Auth., Power Rev. Ref. Bonds, Series 2015, AMT, 5.00% 1/1/2033  | 950 | 950 |
| International Airport System, Rev. Ref. Bonds, Series 2021-C, AMT, 5.00% 10/1/2026  | 1500 | 1513 |
| International Airport System, Rev. Ref. Bonds, Series 2021-C, AMT, 5.00% 10/1/2029  | 3185 | 3397 |
| North Slope Borough, GO Bonds, Series 2025, 5.00% 6/30/2027  | 2075 | 2132 |
|  |  | 14669 |
| **Arizona 1.70%** |  |  |
| Board of Regents of the Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 7/1/2026  | 300 | 301 |
| City of Glendale, Industrial Dev. Auth., Rev. Bonds (Midwestern University), Series 2025, 5.00% 5/15/2027  | 500 | 511 |
| City of Glendale, Industrial Dev. Auth., Rev. Bonds (Midwestern University), Series 2025, 5.00% 5/15/2030  | 1000 | 1079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2023-A, 5.00% 11/1/<br> 2028  | 2950 | 3068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial Dev. Auth., Multi Family Housing Bonds (Ironwood Ranch Apartments Project), Series 2024, 5.00% <br> 2/1/2058 (put 9/1/2026)  | 1000 | 1006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial Dev. Auth., Multi Family Housing Bonds (The Ranches at Gunsmoke Project), Series 2024, 5.00% <br> 3/1/2058 (put 11/1/2026)  | 1000 | 1010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial Dev. Auth., Multi Family Housing Rev. Bonds (The Acacia At Youngtown Phase II Project), Series 2024, <br> 5.00% 11/1/2058 (put 7/1/2027)  | 12425 | 12586 |
| Industrial Dev. Auth., Municipal Certs., Series 2019-2, Class X, interest only, 0.913% 5/20/2033 <sup>(a)(b)</sup>  | 256 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Maricopa, Industrial Dev. Auth., Hospital Rev. Ref. Bonds (Honor Health), Series 2024-D, 5.00% 12/1/<br> 2026  | 1500 | 1519 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2026-D, 5.00% 1/1/2033  | 2875 | 3150 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2016-A, 5.00% 1/1/2038  | 390 | 396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2023-A, 5.00% 1/1/2053 (put 5/15/<br> 2028)  | 455 | 472 |
| City of Phoenix Civic Improvement Corp., Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2029  | 1350 | 1433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Phoenix, Industrial Dev. Auth., Multi Family Housing Rev. Bonds (Memorial Towers Project), Series 2024-A, <br> 3.35% 12/1/2027  | 1665 | 1673 |
| Phoenix Union High School Dist. No. 210, Improvement Bonds (Project of 2023), Series 2025-B, 5.00% 7/1/2028  | 2000 | 2106 |
| Phoenix Union High School Dist. No. 210, Improvement Bonds (Project of 2023), Series 2025-B, 5.00% 7/1/2029  | 3025 | 3254 |
| County of Pinal, Pledged Rev. Ref. Obligations, Series 2025, BAM, 5.00% 8/1/2028  | 725 | 764 |
| County of Pinal, Pledged Rev. Ref. Obligations, Series 2025, BAM, 5.00% 8/1/2029  | 750 | 806 |
| Transportation Board, Highway Rev. and Rev. Ref. Bonds, Series 2026, 5.00% 7/1/2033  | 1000 | 1139 |
| Tucson Unified School Dist. No. 1, School Improvement Bonds (Project of 2023), Series 2026-B, 5.00% 7/1/2033  | 500 | 567 |
| Board of Regents of the University of Arizona, System Rev. Bonds, Series 2026-A, 5.00% 6/1/2027  | 2000 | 2051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Yavapai, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), <br> Series 2002, AMT, 1.30% 6/1/2027  | 450 | 437 |
|  |  | 39336 |
| **California 10.54%** |  |  |
| Alvord Unified School Dist., GO Bonds, CAB, 2007 Election, Series 2011-B, AGI, 0% 8/1/2036  | 2000 | 1354 |
| Antelope Valley Community College Dist., GO Bonds, 2016 Election, Series 2017, 4.00% 8/1/2046  | 4000 | 4049 |
| Barstow Unified School Dist., GO Bonds, CAB, 2001 Election, Series 2004-B, NATL, 0% 8/1/2028  | 1000 | 942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2021-D, (SIFMA Municipal Swap Index <br> + 0.30%) 3.39% 4/1/2056 (put 4/1/2027) <sup>(b)</sup>  | 200 | 199 |
| Burbank-Glendale-Pasadena Airport Auth., Airport Senior Rev. Bonds, Series 2024-B, AMT, 5.00% 7/1/2031  | 1000 | 1090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-B-2, 0.55% 11/1/2049 (put 11/1/<br> 2026)  | 945 | 933 |
| Clovis Unified School Dist., GO Bonds, CAB, 2001 Election, Series 2002-B, NATL, 0% 8/1/2027  | 1350 | 1308 |
| Colton Joint Unified School Dist., GO Bonds, CAB, 2024 Election, Series 2025, BAM, 0% 8/1/2031  | 565 | 483 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 2 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **California (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 4.00% 2/1/2052 (put <br>8/1/2031)  | USD1,205 | $1217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-B-1, 5.00% 7/1/2053 <br>(put 8/1/2029)  | 6755 | 7051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-E-1, 5.00% 2/1/2054 (put <br>3/1/2031)  | 2435 | 2573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-A, 5.00% 5/1/2054 (put <br>4/1/2032)  | 6655 | 7042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-D, 5.50% 5/1/2054 (put 8/<br> 1/2028)  | 1500 | 1568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-E, 5.00% 2/1/2055 (put 9/1/<br> 2032)  | 825 | 875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-F, 5.00% 2/1/2055 (put 11/<br> 1/2032)  | 8345 | 8866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-C, 5.00% 8/1/2055 (put 10/<br> 1/2032)  | 4465 | 4659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-G, 5.00% 11/1/2055 (put 8/<br> 1/2032)  | 1000 | 1026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2025-C, 5.00% 12/1/2055 (put <br> 10/1/2033)  | 1305 | 1368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-H, 5.00% 1/1/2056 (put 8/<br> 1/2033)  | 815 | 881 |
| Duarte Unified School Dist. School Dist. Bonds, CAB, 1998 Election, Series 2004, NATL, 0% 11/1/2028  | 1000 | 938 |
| Educational Facs. Auth., Rev. Bonds (Stanford University), Series 2025-V-4, 5.00% 3/1/2055 (put 3/1/2032)  | 560 | 640 |
| El Rancho Unified School Dist., GO Bonds, 2016 Election, Series 2023-D, BAM, 5.50% 8/1/2026  | 450 | 453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Fairfield, Community Facs. Dist. No. 2023-1 (One Lake Planning Area 5), Improvement Area No. 1, Special <br> Tax Bonds, Series 2024-A, 5.00% 9/1/2032  | 400 | 426 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Series 2013-A, 5.90% 1/15/2027  | 3000 | 3068 |
| GO Bonds, Series 2020, 4.00% 3/1/2028  | 500 | 515 |
| GO Rev. Ref. Bonds, Series 2019, 5.00% 4/1/2029  | 120 | 129 |
| GO Rev. Ref. Bonds, Series 2016, 4.00% 9/1/2031  | 1305 | 1307 |
| Hayward Unified School Dist., GO Rev. Ref. Bonds, Series 2025-B, AGI, 5.00% 8/1/2029  | 410 | 445 |
| Health Facs. Fncg. Auth., Rev. Bonds (Episcopal Communities & Services), Series 2024-A, 3.85% 11/15/2027  | 110 | 110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Facs. Fncg. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2019-B, 5.00% 10/1/2039 (put 10/1/<br> 2027)  | 1000 | 1025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Limited Obligation Multi Family Housing Rev. Bonds (Symphony at Del Sur), Series 2023-V, <br> 5.00% 5/1/2054 (put 11/1/2026)  | 695 | 700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Infrastructure and Econ. Dev. Bank, Rev. Ref. Bonds (Los Angeles County Museum of Art Project), Series 2021-B, <br> (SIFMA Municipal Swap Index + 0.60%) 3.79% 12/1/2050 (put 6/1/2026) <sup>(b)</sup>  | 945 | 945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Inglewood, Successor Agcy. to the Redev. Agcy., Tax Allocation Bonds (Merged Redev. Project), Series <br> 2017-A, BAM, 5.00% 5/1/2028  | 1490 | 1525 |
| Inglewood Unified School Dist., GO Bonds, 2020 Election, Series 2025-B, 5.00% 8/1/2030  | 175 | 193 |
| Inglewood Unified School Dist., GO Bonds, 2020 Election, Series 2025-B, 5.00% 8/1/2031  | 700 | 784 |
| Lake Tahoe Unified School Dist., GO Bonds, CAB, 2008 Election, Series 2009, AGI, 0% 8/1/2030  | 1030 | 917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2021-A, <br> AMT, 5.00% 5/15/2027  | 1230 | 1259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Green Bonds, Series <br> 2025-D, 5.00% 5/15/2030  | 800 | 883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2019-F, AMT, 5.00% <br> 5/15/2028  | 3615 | 3773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2021-D, AMT, 5.00% <br> 5/15/2028  | 500 | 522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2022-G, AMT, 5.00% <br> 5/15/2028  | 2100 | 2192 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 3 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **California (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Green Bonds, Series 2023-A, <br> AMT, 5.00% 5/15/2028  | USD750 | $783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Green Bonds, Series 2025-A, <br> AMT, 5.00% 5/15/2029  | 5165 | 5493 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-D, 5.00% 7/1/2027  | 675 | 694 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-A, 5.00% 7/1/2028  | 3475 | 3598 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2023-A, 5.00% 7/1/2029  | 1915 | 2040 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-A, 5.00% 7/1/2030  | 750 | 811 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-C, 5.00% 7/1/2030  | 6610 | 7084 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2026-A, 5.00% 7/1/2032  | 1260 | 1396 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2023-A, 5.00% 7/1/2030  | 215 | 232 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2025-B, 5.00% 7/1/2031  | 1750 | 1917 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2025-B, 5.00% 7/1/2033  | 505 | 565 |
| City of Los Angeles, Harbor Dept., Rev. Ref. Bonds, Series 2024-A-1, AMT, 5.00% 8/1/2027  | 625 | 641 |
| City of Los Angeles, Wastewater System Rev. Ref. Bonds, Series 2022-C, 5.00% 6/1/2026  | 500 | 501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Los Angeles, Metropolitan Transportation Auth., Measure R Senior Sales Tax Rev. Bonds, Series 2026-B, <br> 5.00% 6/1/2031  | 2500 | 2810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Los Angeles, Metropolitan Transportation Auth., Proposition C Sales Tax Rev. Bonds, Series 2026-B, <br> 5.00% 7/1/2032  | 1770 | 2021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Los Angeles Unified School Dist., GO Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-C, 5.00% <br> 7/1/2026  | 295 | 296 |
| Madera Unified School Dist., GO Bonds, CAB, 2006 Election, Series 2007, NATL, 0% 8/1/2028  | 1680 | 1576 |
| Manteca Unified School Dist., GO Bonds, CAB, 2004 Election, Series 2006, NATL, 0% 8/1/2031  | 1250 | 1074 |
| Monrovia Unified School Dist., GO Bonds, CAB, 2006 Election, Series 2009-B, AGI, 0% 8/1/2029  | 1150 | 1055 |
| Mt. Diablo Unified School Dist., GO Rev. Ref. Bonds, Series 2025, 5.00% 8/1/2029  | 1800 | 1957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Fin. Auth., Multi Family Housing Rev. Bonds (Martha Gardens Apartments), Series 2024-A-2, 3.45% <br> 12/1/2029 (put 12/1/2028)  | 1920 | 1937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Fin. Auth., Multi Family Housing Rev. Bonds (Palmdale Family Apartments), Series 2025-A-1, 2.95% <br> 1/1/2056 (put 1/1/2028)  | 7960 | 7964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Fin. Auth., Multi Family Housing Rev. Bonds (View At San Bruno), Series 2024-A-1, 5.00% 6/1/2056 (put <br> 7/1/2028)  | 1690 | 1772 |
| Municipal Fin. Auth., Rev. Bonds (SFMTA Potrero Yard Modernization Project), Series 2026-B, 5.00% 6/30/2032  | 1550 | 1666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2023-A, AMT, <br> 4.375% 9/1/2053 (put 9/1/2033)  | 5080 | 5286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2024-A, AMT, <br> 3.875% 3/1/2054 (put 3/1/2034)  | 2750 | 2757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2009-A, 3.30% <br> 2/1/2039 (put 2/1/2028) <sup>(c)</sup>  | 1755 | 1759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2022-A, AMT, <br> 3.45% 10/1/2041 (put 10/2/2028)  | 3110 | 3129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2019-A, AMT, <br> 2.40% 10/1/2044 (put 10/1/2029)  | 5280 | 5151 |
| New Haven Unified School Dist., GO Bonds, CAB, Series 2008-C, AGI, 0% 8/1/2029  | 7650 | 6981 |
| North Natomas Community Facs. Dist. No. 4, Special Tax Rev. Ref. Bonds, Series 2023-G, AGI, 5.00% 9/1/2028  | 1500 | 1581 |
| Port of Oakland, Rev. Ref. Bonds, Series 2021-H, AMT, 5.00% 5/1/2028 (escrowed to maturity)  | 30 | 31 |
| Port of Oakland, Rev. Ref. Bonds, Series 2021-H, AMT, 5.00% 5/1/2029  | 615 | 650 |
| Peralta Community College Dist., GO Bonds, 2018 Election, Series 2025-C-1, 5.00% 8/1/2026  | 5000 | 5033 |
| Public Works Board, Lease Rev. Bonds (Various Capital Projects), Series 2025-C, 5.00% 11/1/2027  | 1550 | 1609 |
| Public Works Board, Lease Rev. Bonds (Various Capital Projects), Series 2026-A, 5.00% 9/1/2031  | 5800 | 6469 |
| Public Works Board, Lease Rev. Bonds (Various Capital Projects), Series 2016-C, 4.00% 11/1/2031  | 1560 | 1568 |
| Public Works Board, Lease Rev. Bonds (Various Capital Projects), Series 2026-A, 5.00% 9/1/2032  | 7265 | 8220 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2023-C, 5.00% 9/1/2026  | 500 | 504 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2023-C, 5.00% 9/1/2029  | 1300 | 1403 |
| Rialto Unified School Dist., GO Bonds, CAB, 2022 Election, Series 2023, BAM, 0% 8/1/2030  | 340 | 300 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 4 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **California (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Sacramento, Municipal Utility Dist., Electric Rev. Ref. Green Bonds, Series 2025-J, 5.00% 8/15/2055 (put <br> 10/15/2031)  | USD1,015 | $1131 |
| Sacramento Unified School Dist., GO Rev. Ref. Bonds, Series 2022, BAM, 5.00% 7/1/2027  | 685 | 706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of San Diego, Housing Auth., Multi Family Housing Rev. Bonds, Series 2023-B, 5.00% 5/1/2057 (put 11/1/<br> 2026)  | 1000 | 1009 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2023-B, AMT, 5.00% 7/1/2028  | 1570 | 1644 |
| San Diego Unified School Dist., GO Bonds, CAB, Series 2009-1, 0% 7/1/2030 (escrowed to maturity)  | 1800 | 1604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series <br> 2018-G, AMT, 5.00% 5/1/2027  | 780 | 795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City and County of San Francisco, Public Utilities Commission, Wastewater Rev. Green Bonds, Series 2023-C, <br> 4.00% 10/1/2048 (put 10/1/2029)  | 1515 | 1576 |
| San Francisco Unified School Dist., GO Bonds, 2016 Election, Series 2022-C, 5.00% 6/15/2027  | 1175 | 1208 |
| City of San Jose, Multi Family Housing Rev. Bonds (Parkmoor), Series 2023-F-2, 5.00% 6/1/2027 (put 6/1/2026)  | 260 | 260 |
| San Mateo Union High School Dist., GO Rev. Ref. Bonds, Series 2026, 5.00% 9/1/2029  | 2315 | 2518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Santa Margarita Water Dist., Community Facs. Dist. No. 99-1 (Talega), Special Tax Rev. Ref. Bonds, Series 2014-B, <br> 5.00% 9/1/2029  | 1150 | 1152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southern California Public Power Auth., Rev. Ref. Bonds (Canyon Power Project), Series 2025-B, 3.70% 7/1/2040 <br> (put 7/1/2027)  | 7800 | 7812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southern California Public Power Auth., Rev. Ref. Bonds (Milford Wind Corridor Phase I Project), Series 2019-1, <br> 5.00% 7/1/2029  | 1500 | 1598 |
| Statewide Communities Dev. Auth., Rev. Bonds (Kaiser Foundation Hospitals), Series 2025-A, 5.00% 10/1/2028 <sup>(c)</sup>  | 15500 | 16269 |
| Statewide Communities Dev. Auth., Rev. Bonds (Kaiser Foundation Hospitals), Series 2025-B, 5.00% 10/1/2032 <sup>(c)</sup>  | 3000 | 3331 |
| Stockton Unified School Dist., GO Rev. Ref. Bonds, Series 2023-B, AGI, 5.00% 8/1/2027  | 800 | 827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tobacco Securitization Auth. of Southern California, Tobacco Settlement Asset-Backed Rev. Ref. Bonds (San <br> Diego County Tobacco Asset Securitization Corp.), Series 2019-A-1, 5.00% 6/1/2027  | 1605 | 1645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tobacco Securitization Auth. of Southern California, Tobacco Settlement Asset-Backed Rev. Ref. Bonds (San <br> Diego County Tobacco Asset Securitization Corp.), Series 2019-A, 5.00% 6/1/2028  | 750 | 785 |
| Tulare Joint Union High School Dist., GO Bonds, CAB, 2004 Election, Series 2004-A, NATL, 0% 8/1/2026  | 500 | 497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Tustin, Community Facs. Dist. No. 06-1 (Tustin Legacy / Columbus Villages), Special Tax Rev. Ref. Bonds, <br> Series 2015-A, 5.00% 9/1/2030  | 2750 | 2772 |
| Ukiah Unified School Dist., GO Bonds, CAB, 2005 Election, Series 2006, NATL, 0% 8/1/2028  | 500 | 471 |
| Regents of the University of California, General Rev. Bonds, Series 2026-CF, 5.00% 11/15/2032  | 3000 | 3401 |
| Regents of the University of California, Limited Project Rev. Bonds, Series 2022-S, 5.00% 5/15/2026  | 25 | 25 |
| Various Purpose GO Bonds, Series 2025, 5.00% 3/1/2028  | 1985 | 2080 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025, 5.00% 3/1/2030  | 1250 | 1361 |
| Various Purpose GO Rev. Ref. Bonds, Series 2026, 5.00% 10/1/2031  | 5870 | 6556 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025, 5.00% 3/1/2033  | 1300 | 1479 |
| Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2022-A, 5.50% 12/1/2052  | 1220 | 1288 |
| Dept. of Veterans Affairs, Veterans GO Bonds, Series 2019-CS, 4.00% 12/1/2049  | 675 | 678 |
| Dept. of Veterans Affairs, Veterans GO Bonds, Series 2020-CT, 3.00% 12/1/2050  | 2115 | 2101 |
| Dept. of Veterans Affairs, Veterans GO Bonds, Series 2022-CU, 5.50% 12/1/2052  | 285 | 299 |
| Walnut Valley Unified School Dist., GO Bonds, CAB, 2007 Election, Series 2011-B, 0% 8/1/2031  | 1030 | 841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dept. of Water Resources, Water System Rev. Bonds (Central Valley Project), Series 2016-AW, 5.00% 12/1/2033 <br> (preref. 12/1/2026)  | 230 | 233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dept. of Water Resources, Water System Rev. Bonds (Central Valley Project), Series 2017-AX, 5.00% 12/1/2033 <br> (preref. 12/1/2027)  | 245 | 255 |
| Wright Elementary School Dist., GO Bonds, CAB, Series 2003-A, NATL, 0% 8/1/2028  | 320 | 299 |
|  |  | 243053 |
| **Colorado 2.07%** |  |  |
| Adams County School Dist. No. 14, GO Bonds, Series 2025, 5.00% 12/1/2033  | 1180 | 1348 |
| Bridge and Tunnel Enterprise, Infrastructure Rev. Bonds, Series 2025-A, AGI, 5.00% 12/1/2031  | 1000 | 1112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City and County of Broomfield, Baseline Metropolitan Dist. No. 1, Special Rev. Ref. and Improvement Bonds, <br> Series 2024-A, AGI, 5.00% 12/1/2027  | 1000 | 1035 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 5 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Colorado (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City and County of Broomfield, Baseline Metropolitan Dist. No. 1, Special Rev. Ref. and Improvement Bonds, <br> Series 2024-A, AGI, 5.00% 12/1/2029  | USD400 | $430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canyons Metropolitan Dist. No. 5, Limited Tax GO and Special Rev. Ref. and Improvement Bonds, Series 2024-A, <br> BAM, 5.00% 12/1/2028  | 200 | 210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canyons Metropolitan Dist. No. 5, Limited Tax GO and Special Rev. Ref. and Improvement Bonds, Series 2024-A, <br> BAM, 5.00% 12/1/2029  | 200 | 214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canyons Metropolitan Dist. No. 5, Limited Tax GO and Special Rev. Ref. and Improvement Bonds, Series 2024-A, <br> BAM, 5.00% 12/1/2031  | 200 | 219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canyons Metropolitan Dist. No. 5, Limited Tax GO and Special Rev. Ref. and Improvement Bonds, Series 2024-A, <br> BAM, 5.00% 12/1/2032  | 250 | 277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canyons Metropolitan Dist. No. 5, Limited Tax GO and Special Rev. Ref. and Improvement Bonds, Series 2024-A, <br> BAM, 5.00% 12/1/2033  | 250 | 279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canyons Metropolitan Dist. No. 5, Limited Tax GO and Special Rev. Ref. and Improvement Bonds, Series 2024-A, <br> BAM, 5.00% 12/1/2034  | 250 | 280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Colorado Springs, Multi Family Housing Rev. Bonds (Bradley Ridge Apartments Project), Series 2025, <br> 3.15% 12/1/2045 (put 12/1/2029)  | 2610 | 2617 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-A, AMT, 5.00% 11/15/2027  | 1995 | 2060 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-A, AMT, 5.00% 11/15/2028  | 4500 | 4729 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-B, 5.00% 11/15/2028  | 125 | 133 |
| City and County of Denver, Airport System Rev. Bonds, Series 2018-A, AMT, 5.00% 12/1/2029  | 1000 | 1050 |
| City and County of Denver, Airport System Rev. Bonds, Series 2018-A, AMT, 5.00% 12/1/2031  | 1625 | 1701 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2022-A, AMT, 5.00% 11/15/2029  | 2000 | 2138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Facs. Auth., Hospital Rev. Bonds (Parkview Medical Center, Inc. Project), Series 2016, 5.00% 9/1/2046 <br> (preref. 9/1/2026)  | 125 | 126 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2025-A, 5.00% 9/1/2032  | 1610 | 1769 |
| Health Facs. Auth., Rev. Bonds (Covenant Living Communities and Services), Series 2025-A, 5.00% 12/1/2026  | 740 | 746 |
| Health Facs. Auth., Rev. Bonds (Covenant Living Communities and Services), Series 2025-A, 5.00% 12/1/2027  | 800 | 820 |
| Health Facs. Auth., Rev. Bonds (Covenant Living Communities and Services), Series 2025-A, 5.00% 12/1/2028  | 1000 | 1039 |
| Housing and Fin. Auth., Multi Family Housing Bonds, Series 2024-B-2, Class I, 3.10% 10/1/2027  | 5295 | 5308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing and Fin. Auth., Multi Family Housing Rev. Bonds (Creekside Flats Project), Series 2026, 3.00% 5/1/2048 <br> (put 11/1/2029)  | 860 | 860 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2017-C, Class I, 4.00% 5/1/2048  | 150 | 150 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2018-B-1, Class I, 4.00% 11/1/2048  | 155 | 155 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2018-C, Class I, 4.25% 11/1/2048  | 270 | 271 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-C, Class I, 4.25% 5/1/2049  | 1965 | 1976 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-E, Class I, 4.25% 5/1/2049  | 370 | 373 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-E, Class I, 3.00% 11/1/2051  | 1035 | 1024 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-L, Class I, 3.25% 11/1/2051  | 1420 | 1407 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2022-B, Class I, 3.25% 5/1/2052  | 3730 | 3698 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2022-E, Class I, 5.25% 11/1/2052  | 3350 | 3465 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2023-I, Class III, 6.00% 5/1/2053  | 1175 | 1273 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2025-F, Class I, 6.50% 5/1/2055  | 1655 | 1867 |
| Joint School Dists. No. 28J, GO Bonds, Series 2025, 5.50% 12/1/2026  | 1000 | 1017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, <br> 5.00% 7/15/2027  | 205 | 209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, <br> 5.00% 1/15/2029  | 400 | 418 |
|  |  | 47803 |
| **Connecticut 0.73%** |  |  |
| GO Bonds, Series 2021-A, 4.00% 1/15/2028  | 1455 | 1490 |
| Health and Educational Facs. Auth., Rev. Bonds (Hartford Healthcare Issue), Series 2021-A, 5.00% 7/1/2028  | 925 | 968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2016-A-2, 2.00% 7/1/2042 (put 7/1/<br> 2026)  | 500 | 499 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 6 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Connecticut (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% <br>11/15/2027  | USD750 | $767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% <br>11/15/2028  | 545 | 565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2025-B-1, AMT, 5.25% <br>11/15/2028  | 495 | 515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/<br> 15/2029  | 560 | 588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2025-B-1, AMT, 5.25% 11/<br> 15/2029  | 1590 | 1673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/<br> 15/2030  | 440 | 467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2025-B-1, AMT, 5.25% 11/<br> 15/2030  | 1840 | 1954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2025-B-1, AMT, 5.25% 11/<br> 15/2031  | 2500 | 2673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2024-B, AMT, 4.125% 11/<br> 15/2040  | 1095 | 1069 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-A-2, AMT, 4.00% 11/15/2041  | 290 | 290 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-E-1, 4.25% 5/15/2042  | 260 | 262 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-F-1, 3.50% 11/15/2043  | 280 | 279 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-A-1, 4.00% 11/15/2047  | 215 | 215 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-C-1, 4.00% 11/15/2047  | 100 | 100 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-D-1, 4.00% 11/15/2047  | 210 | 210 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2021-B-1, 3.00% 11/15/2049  | 835 | 824 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2022-A-1, 3.50% 11/15/2051  | 500 | 498 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2023-B, 5.75% 11/15/2053  | 850 | 903 |
|  |  | 16809 |
| **Delaware 0.11%** |  |  |
| GO Bonds, Series 2024-A, 5.00% 5/1/2028  | 1375 | 1444 |
| GO Rev. Ref. Bonds, Series 2020-B, 5.00% 7/1/2028  | 1005 | 1059 |
|  |  | 2503 |
| **District of Columbia 1.28%** |  |  |
| GO Bonds, Series 2026-A, 5.00% 6/1/2029  | 2320 | 2488 |
| GO Bonds, Series 2021-D, 5.00% 2/1/2030  | 700 | 760 |
| GO Bonds, Series 2024-A, 5.00% 8/1/2030  | 490 | 536 |
| GO Rev. Ref. Bonds, Series 2026-B, 5.00% 6/1/2027  | 1760 | 1804 |
| GO Rev. Ref. Bonds, Series 2026-B, 5.00% 6/1/2028  | 1185 | 1245 |
| Hospital Rev. Ref. Bonds (Children's Hospital Obligated Group Issue), Series 2015, 5.00% 7/15/2035  | 800 | 801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Belmont Crossing Phase II), Series 2025, <br> 5.00% 3/1/2029 (put 2/1/2028)  | 1590 | 1641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (The Edmonson), Series 2024, 5.00% <br> 12/1/2028 (put 12/1/2027)  | 695 | 716 |
| Housing Fin. Agcy., Multi Family Rev. Bonds, Series 2025-B, 3.15% 2/1/2030 (put 2/1/2029)  | 1000 | 1003 |
| Income Tax Secured Rev. Ref. Bonds, Series 2019-C, 5.00% 10/1/2026  | 3385 | 3417 |
| Income Tax Secured Rev. Ref. Bonds, Series 2025-A, 5.00% 6/1/2031  | 1795 | 1989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2017-A, AMT, 5.00% <br> 10/1/2026  | 1000 | 1008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% <br> 10/1/2026  | 1500 | 1513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/<br> 2026  | 2000 | 2017 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 7 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **District of Columbia (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, AMT, 5.00% <br>10/1/2027  | USD1,000 | $1029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% <br>10/1/2027  | 490 | 504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2017-A, AMT, 5.00% <br>10/1/2028  | 1375 | 1414 |
| Metropolitan Washington DC Airports Auth., Rev and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 10/1/2028  | 1500 | 1573 |
| Water and Sewer Auth., Public Utility Multimodal Rev. Bonds, Series 2022-E, 3.00% 10/1/2057 (put 10/1/2027)  | 4000 | 3991 |
|  |  | 29449 |
| **Florida 3.35%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the <br> University of Florida, Inc. Project), Series 2025-B-3, 3.625% 10/1/2030  | 520 | 520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Brevard, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Emerald Place Apartments), Series <br> 2025, 3.30% 2/1/2028 (put 2/1/2027)  | 1285 | 1288 |
| County of Broward, Port Facs. Rev. Ref. Bonds, Series 2019-D, AMT, 5.00% 9/1/2026  | 1535 | 1544 |
| Central Florida Expressway Auth., Rev. Ref. Bonds, Series 2016-B, 4.00% 7/1/2035 (preref. 7/1/2026)  | 8645 | 8663 |
| Board of Education, Lottery Rev. Ref. Bonds, Series 2016-B, 5.00% 7/1/2027  | 3175 | 3188 |
| Board of Education, Public Education Capital Outlay Bonds, Series 2016-G, 4.00% 6/1/2040 (preref. 6/1/2027)  | 1200 | 1219 |
| Board of Education, Public Education Capital Outlay Bonds, Series 2016-G, 4.00% 6/1/2042 (preref. 6/1/2027)  | 1985 | 2017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2016-A, AMT, 5.00% 10/1/2029 (preref. 10/1/<br> 2026)  | 1000 | 1009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2017-A, AMT, 5.00% 10/1/2030 (preref. 10/1/<br> 2027)  | 1025 | 1057 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Everglades Townhomes), Series 2023, 2.80% 2/1/2027  | 1000 | 996 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-1, 4.00% 7/1/2049  | 205 | 205 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-2, 4.25% 1/1/2050  | 380 | 382 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2020-2, 3.00% 7/1/2051  | 180 | 178 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2020-1, 3.50% 7/1/2051  | 325 | 325 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2021-2, 3.00% 7/1/2052  | 3395 | 3352 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2022-1, 3.50% 7/1/2052  | 585 | 583 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2023-3, 5.75% 1/1/2054  | 935 | 1016 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2024-5, 6.25% 1/1/2055  | 395 | 431 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2024-1, 6.25% 7/1/2055  | 865 | 957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Corp., Multi Family Mortgage Housing Rev. Bonds (Arbours at Emerald Springs), Series 2025-L, <br> 3.15% 12/1/2028 (put 12/1/2027)  | 355 | 356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Corp., Multi Family Mortgage Housing Rev. Bonds (Brownsville Transit Village V), Series 2024-B, <br> 3.35% 10/1/2027 (put 10/1/2026)  | 1235 | 1238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (Capri Place), Series 2026-A, 3.00% 2/1/2044 (put 8/1/<br> 2029)  | 725 | 724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (Mariposa Grove), Series 2025-R, 3.15% 1/1/2044 (put 1/<br> 1/2029)  | 3110 | 3115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (Residences at Marina Village), Series 2025-S, 2.85% <br> 10/1/2043 (put 10/1/2028)  | 2980 | 2970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (Southward Village CNI Phase 2), Series 2025-T, 3.20% <br> 12/1/2044 (put 12/1/2028)  | 2010 | 2014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jacksonville Housing Fin. Auth., Multi Family Housing Rev. Bonds (Egret Landing), Series 2025, 3.40% 7/1/2058 <br> (put 7/1/2028)  | 1400 | 1404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jacksonville Housing Fin. Auth., Multi Family Housing Rev. Bonds (Village At Lake Forest), Series 2025, 3.15% <br> 1/1/2046 (put 7/1/2029)  | 5170 | 5183 |
| County of Lee, Airport Rev. Bonds, Series 2021-B, AMT, 5.00% 10/1/2029  | 350 | 373 |
| County of Lee, Airport Rev. Bonds, Series 2026-A-2, AMT, 5.00% 10/1/2056 (put 10/1/2031)  | 865 | 930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Lee, Housing Fin. Auth., Multi Family Housing Rev. Bonds (5300-5360 Summerlin), Series 2026, 2.65% <br> 12/1/2047 (put 9/1/2029)  | 620 | 610 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 8 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Florida (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Lee, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Ekos on Evans), Series 2025, 3.50% <br> 12/1/2042 (put 12/1/2027)  | USD2,850 | $2862 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2024-A, AMT, 5.00% 10/1/2029  | 1665 | 1773 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2024-A, AMT, 5.00% 10/1/2032  | 1000 | 1099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Miami-Dade, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Bonita Pointe), Series 2026, FHA, <br> 2.65% 4/1/2029 (put 4/1/2028)  | 1095 | 1088 |
| County of Miami-Dade, Seaport Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/2030  | 2670 | 2854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Miami-Dade, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Residences At Palm Court), Series <br> 2025-B, 2.95% 9/1/2029 (put 9/1/2028)  | 1490 | 1483 |
| County of Okaloosa, Mid-Bay Bridge Auth., Rev. Ref. Bonds, Series 2025, AGI, 5.00% 10/1/2030  | 5000 | 5407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2019-A, <br> 5.00% 10/1/2026  | 500 | 504 |
| Orlando Utilities Commission, Utility System Rev. Bonds, Series 2024-A, 5.00% 10/1/2031  | 500 | 558 |
| Orlando Utilities Commission, Utility System Rev. Bonds, Series 2024-A, 5.00% 10/1/2032  | 500 | 565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Osceola County Housing Fin. Auth., Multi Family Housing Rev. Bonds (Crestwood Apartments), Series 2026-B, <br> 2.65% 9/1/2043 (put 9/1/2028)  | 490 | 484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Pinellas, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Indigo Apartments), Series 2025, 3.40% <br> 7/1/2028 (put 7/1/2027)  | 2605 | 2617 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2026  | 100 | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dept. of Transportation, Right-of-Way Acquisition and Bridge Construction Bonds, Series 2016-A, 5.00% 7/1/<br> 2027  | 315 | 316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dept. of Transportation, Right-of-Way Acquisition and Bridge Construction Bonds, Series 2018-B, 5.00% 7/1/<br> 2027  | 445 | 458 |
| Dept. of Transportation, Turnpike Rev. Bonds, Series 2025-D, 5.00% 7/1/2028  | 4165 | 4381 |
| Dept. of Transportation, Turnpike Rev. Ref. Bonds, Series 2023-A, 5.00% 7/1/2026  | 1515 | 1521 |
| Dept. of Transportation Fncg. Corp., Rev. Bonds, Series 2022, 5.00% 7/1/2026  | 1000 | 1004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Wildwood, Village Community Dev. Dist. No. 15, Special Assessment Rev. Bonds, Series 2024, 3.75% <br> 5/1/2029 <sup>(c)</sup>  | 355 | 356 |
|  |  | 77277 |
| **Georgia 2.74%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Athens Housing Auth., Multi Family Housing Rev. Bonds, (North Downtown Athens Phase II), Series 2025, 3.23% <br> 6/1/2045 (put 6/1/2029)  | 2305 | 2317 |
| City of Atlanta, Airport General Rev. Ref. Bonds, Series 2021-B, 5.00% 7/1/2027  | 430 | 442 |
| City of Atlanta, Airport General Rev. Ref. Bonds, Series 2021-C, AMT, 5.00% 7/1/2028  | 665 | 694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Atlanta, Urban Residential Fin. Auth., Multi Family Housing Rev. Bonds (Auburn Square), Series 2025-B, <br> 3.15% 2/1/2030 (put 2/1/2029)  | 1675 | 1681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Atlanta, Urban Residential Fin. Auth., Multi Family Housing Rev. Bonds (Martin House), Series 2025, 3.20% <br> 5/1/2029 (put 5/1/2028)  | 2600 | 2604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Atlanta, Urban Residential Fin. Auth., Multi Family Rev. Bonds (Metropolitan Place), Series 2024, 2.99% <br> 10/1/2042 (put 10/1/2027)  | 5600 | 5607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Atlanta, Urban Residential Fin. Auth., Multi Family Rev. Bonds (North Block), Series 2025, 3.40% 2/1/2029 <br> (put 2/1/2028)  | 1050 | 1055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Bartow, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Bowen Project), Series <br> 1997-1, 1.80% 9/1/2029  | 560 | 521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Vogtle Project), Series <br> 2012-01, 2.90% 12/1/2049 (put 8/21/2029)  | 6155 | 6111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Vogtle Project), Series <br> 2012-2, 3.30% 12/1/2049 (put 8/21/2029)  | 945 | 950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Columbus, Housing Auth., Multi Family Housing Rev. Bonds (HACG RAD II Project), Series 2025, 3.30% <br> 11/1/2028 (put 11/1/2027)  | 875 | 878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Decatur, Housing Auth., Multi Family Housing Rev. Bonds (Philips Tower Project), Series 2025, 3.25% <br> 9/1/2028 (put 9/1/2027)  | 1050 | 1052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Fayette Dev., Auth. Rev. Bonds (United States Soccer Federation, Inc. Project), Series 2024, 5.00% 10/1/<br> 2026  | 440 | 443 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 9 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Georgia (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Fayette Dev., Auth. Rev. Bonds (United States Soccer Federation, Inc. Project), Series 2024, 5.00% <br>10/1/2027  | USD670 | $685 |
| GO Bonds, Series 2015-A, 5.00% 2/1/2027  | 1000 | 1002 |
| GO Rev. Ref. Bonds, Series 2022-C, 4.00% 7/1/2026  | 10000 | 10023 |
| GO Rev. Ref. Bonds, Series 2016-E, 5.00% 12/1/2027  | 750 | 760 |
| City of Homerville, Housing Auth. Multi Family Housing Rev. Bonds, Series 2024, 3.45% 1/1/2028 (put 1/1/2027)  | 1245 | 1248 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2017-A, 4.00% 12/1/2047  | 70 | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Lawrenceville, Housing Auth., Multi Family Housing Rev. Bonds (Applewood Towers Project), Series <br> 2024-B, 5.00% 10/1/2028 (put 10/1/2027)  | 505 | 519 |
| Main Street Natural Gas, Inc., Gas Project Rev. Bonds, Series 2007-A, 5.50% 9/15/2028  | 1500 | 1573 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2019-A, 5.00% 5/15/2026  | 3000 | 3002 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2021-A, 4.00% 7/1/2052 (put 9/1/2027)  | 1250 | 1266 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2022-C, 4.00% 8/1/2052 (put 11/1/2027) <sup>(c)</sup>  | 3250 | 3248 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2024-A, 5.00% 5/1/2054 (put 9/1/2031)  | 2880 | 3087 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2024-B, 5.00% 12/1/2054 (put 3/1/2032)  | 4695 | 5054 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 4.00% 1/1/2027  | 270 | 273 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2024-A, 5.00% 1/1/2030  | 300 | 323 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2021-A, AGI, 5.00% 1/1/2027  | 220 | 224 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2023-A, AGI, 5.00% 7/1/2029  | 500 | 534 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2023-A, AGI, 5.00% 7/1/2030  | 500 | 544 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2023-A, AGI, 5.00% 7/1/2031  | 500 | 552 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2027  | 200 | 202 |
| Municipal Electric Auth., Project One Bonds, Series 2016-A, BAM, 5.00% 1/1/2028  | 2000 | 2008 |
| Municipal Electric Auth., Project One Bonds, Series 2020-A, 5.00% 1/1/2028  | 1285 | 1337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series <br> 2021, 5.00% 4/1/2028  | 400 | 417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Savannah Econ. Dev. Auth. Recovery Zone Fac. Rev. Ref. Bonds (International Paper Co. Project), Series 2019-A, <br> 3.45% 11/1/2033 (put 10/1/2031)  | 925 | 922 |
|  |  | 63228 |
| **Guam 0.04%** |  |  |
| Power Auth., Rev. Ref. Bonds, Series 2022-A, 5.00% 10/1/2028  | 1000 | 1037 |
| **Hawaii 0.21%** |  |  |
| Airports System Rev. Bonds, Series 2018-A, AMT, 5.00% 7/1/2029  | 1000 | 1042 |
| GO Rev. Ref. Bonds, Series 2016, 5.00% 10/1/2028  | 2080 | 2101 |
| Highway Rev. Bonds, Series 2026-A, 5.00% 1/1/2031  | 1500 | 1654 |
|  |  | 4797 |
| **Idaho 0.17%** |  |  |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 5.00% 3/1/2027  | 200 | 204 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 5.00% 3/1/2028  | 260 | 270 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 5.00% 3/1/2029  | 165 | 175 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2018-A, 5.00% 3/1/2037  | 280 | 290 |
| Housing and Fin. Assn., Single Family Mortgage Bonds, Series 2019-A, 4.00% 1/1/2050  | 335 | 337 |
| Housing and Fin. Assn., Single Family Mortgage Bonds, Series 2024-A, 6.00% 7/1/2054  | 2325 | 2553 |
|  |  | 3829 |
| **Illinois 3.36%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2018-C, AGI, <br> 5.00% 12/1/2027  | 1950 | 2006 |
| City of Chicago, Chicago Midway Airport, Rev. Ref. Bonds, Series 2023-C, AMT, 5.00% 1/1/2027  | 4500 | 4562 |
| City of Chicago, Chicago Midway Airport, Rev. Ref. Bonds, Series 2023-C, AMT, 5.00% 1/1/2028  | 4045 | 4188 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 10 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Illinois (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2024-C, AMT, 5.00% <br>1/1/2031  | USD1,110 | $1198 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Ref. Bonds, Series 2024-A, 5.00% 12/1/2029  | 1225 | 1318 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2023-B, AGI, 5.00% 1/1/2030  | 1885 | 2024 |
| City of Chicago, Water Rev. Bonds, Series 2024-A, 5.00% 11/1/2029  | 2575 | 2751 |
| City of Chicago, Water Rev. Bonds, Series 2024-A, 5.00% 11/1/2030  | 1005 | 1090 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017-2, AGI, 5.00% 11/1/2031  | 2300 | 2372 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2023-B, AGI, 5.00% 11/1/2031  | 1455 | 1603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., GO Bonds, Series <br> 2003-A, NATL, 6.00% 7/1/2029  | 1000 | 1052 |
| County of Cook, GO Rev. Ref. Bonds, Series 2022-A, 5.00% 11/15/2029  | 3005 | 3230 |
| County of Cook, Sales Tax Rev. Bonds, Series 2024, 5.00% 11/15/2028  | 1000 | 1056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), <br> Series 2025-A, 5.00% 7/1/2029  | 270 | 281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), <br> Series 2025-A, 5.00% 7/1/2031  | 190 | 200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), <br> Series 2025-A, 4.25% 7/1/2041  | 470 | 472 |
| Fin. Auth., Rev. Bonds (Ascension Health Credit Group), Series 2016-C, 4.00% 2/15/2041 (preref. 2/15/2027)  | 1900 | 1919 |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2020-B-2, 5.00% 5/15/2050 (put 11/15/2026)  | 1285 | 1286 |
| Fin. Auth., Rev. Bonds (Rush University For Health), Series 2025-A, 5.00% 11/15/2030  | 6250 | 6673 |
| Fin. Auth., Rev. Ref. Green Bonds (Clean Water Initiative Revolving Fund), Series 2025-B, 5.00% 1/1/2030  | 1210 | 1311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2023, AMT, 4.60% <br> 10/1/2053 (put 10/1/2026)  | 4685 | 4696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fin. Auth., Water Facs. Rev. Ref. Bonds (American Water Capital Corp. Project), Series 2020, 3.875% 5/1/2040 (put <br> 9/1/2028)  | 1370 | 1393 |
| GO Bonds, Series 2020, 5.50% 5/1/2026  | 1500 | 1500 |
| GO Bonds, Series 2025-C, 5.25% 9/1/2032  | 3000 | 3366 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds, Series 2021-C, FHA, 0.80% 7/1/2026  | 410 | 408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Auth., Multi Family Housing Rev. Bonds (Island Terrace), Series 2023, 2.80% 8/1/2028 (put 4/1/<br> 2028)  | 345 | 343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Auth., Multi Family Housing Rev. Bonds (Island Terrace), Series 2026, 2.80% 4/1/2029 (put 4/1/<br> 2028)  | 680 | 676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Auth., Multi Family Housing Rev. Bonds (Lakeside Tower), Series 2025-B, 3.15% 8/1/2029 (put 8/1/<br> 2028)  | 610 | 611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Auth., Multi Family Housing Rev. Bonds (Walden Oaks), Series 2024, 5.00% 10/1/2027 (put 10/1/<br> 2026)  | 1450 | 1461 |
| Housing Dev. Auth., Multi Family Rev. Green Bonds, Series 2024-C-2, FHA, 3.60% 8/1/2032 (put 8/1/2028)  | 1175 | 1185 |
| Housing Dev. Auth., Rev. Bonds, Series 2019-C, 4.00% 10/1/2049  | 145 | 146 |
| Housing Dev. Auth., Rev. Bonds, Series 2019-A, 4.25% 10/1/2049  | 110 | 111 |
| Housing Dev. Auth., Rev. Bonds, Series 2020-A, 3.75% 4/1/2050  | 1025 | 1029 |
| Housing Dev. Auth., Rev. Bonds, Series 2021-D, 3.00% 10/1/2051  | 2485 | 2452 |
| Housing Dev. Auth., Rev. Bonds, Series 2023-H, 5.75% 10/1/2053  | 2085 | 2230 |
| Housing Dev. Auth., Rev. Bonds, Series 2024-A, 6.00% 10/1/2054  | 480 | 519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, <br> 0% 6/15/2031  | 3000 | 2529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2024-B, <br> 4.00% 12/15/2026  | 2470 | 2483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2024-B, <br> 4.00% 12/15/2027  | 470 | 476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2017-B, <br> 5.00% 12/15/2027  | 100 | 103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-B, <br> 5.00% 12/15/2027  | 675 | 676 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 11 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Illinois (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2023-A, <br> 5.00% 12/15/2027  | USD2,500 | $2572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Railsplitter Tobacco Settlement Auth., Tobacco Settlement Rev. Bonds, Series 2017, 5.00% 6/1/2027 (preref. <br>6/1/2026)  | 1000 | 1002 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2017-A, 5.00% 1/1/2027  | 1000 | 1014 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2023-C, 5.00% 1/1/2029  | 1930 | 2033 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2015-A, 5.00% 1/1/2040  | 1275 | 1278 |
| Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2024-A, 5.00% 1/1/2029  | 600 | 637 |
|  |  | 77521 |
| **Indiana 1.73%** |  |  |
| Fin. Auth., Highway Rev. Ref. Bonds, Series 2017-A, 5.00% 6/1/2030 (preref. 12/1/2027)  | 1135 | 1178 |
| Fin. Auth., Rev. Bonds (Ascension Senior Credit Group), Series 2025-A-1, 5.00% 11/15/2028  | 1665 | 1760 |
| Fin. Auth., Rev. Bonds (Ascension Senior Credit Group), Series 2025-A-1, 5.00% 11/15/2029  | 3000 | 3229 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2021-B, 5.00% 2/1/2027  | 330 | 336 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2021-B, 5.00% 2/1/2028  | 425 | 444 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2019-E, 5.00% 2/1/2030  | 1385 | 1475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing and Community Dev. Auth., Multi Family Housing Rev. Bonds, Series 2025-A, 2.90% 3/1/2029 (put 3/1/<br> 2028)  | 1780 | 1776 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-A, 4.00% 7/1/2048  | 1020 | 1023 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2019-A, 4.25% 7/1/2048  | 770 | 774 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.75% 1/1/2049  | 130 | 130 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-B, 3.00% 7/1/2050  | 390 | 385 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-C-1, 3.00% 1/1/2052  | 1440 | 1413 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-C-1, 5.00% 7/1/2053  | 320 | 331 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2023-A-1, 5.75% 7/1/2053  | 1625 | 1716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, <br> 5.00% 6/1/2027  | 1500 | 1521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, <br> 5.00% 6/1/2028  | 1350 | 1383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, <br> 5.00% 6/1/2028  | 255 | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, <br> 5.00% 6/1/2029  | 1225 | 1267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, <br> 5.00% 6/1/2029  | 340 | 353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, <br> 4.00% 6/1/2046  | 335 | 325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series <br> 2023-I-2, AMT, 5.00% 1/1/2028  | 3110 | 3213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series <br> 2023-I-2, AMT, 5.00% 1/1/2029  | 2290 | 2409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Indianapolis Airport Auth. Project), <br> Series 2016-A-1, AMT, 5.00% 1/1/2028  | 300 | 301 |
| City of Indianapolis, Water System Rev. Ref. Bonds, Series 2016-B, 5.00% 10/1/2028  | 4000 | 4036 |
| Municipal Power Agcy., Power Supply System Rev. Bonds, Series 2022-A, 5.00% 1/1/2028  | 700 | 726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Whiting, Environmental Facs. Rev. Bonds (BP Products North America, Inc. Project), Series 2015, AMT, <br> 4.40% 11/1/2045 (put 6/10/2031)  | 4000 | 4177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Whiting, Environmental Facs. Rev. Bonds (BP Products North America, Inc. Project), Series 2016-A, AMT, <br> 4.40% 3/1/2046 (put 6/10/2031)  | 1000 | 1044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Whiting, Environmental Facs. Rev. Ref. Bonds (BP Products North America, Inc. Project), Series 2019-A, <br> AMT, 5.00% 12/1/2044 (put 6/15/2026)  | 3000 | 3006 |
|  |  | 39993 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 12 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Iowa 1.17%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fin. Auth., Single Family Mortgage Bonds, Series 2022-A, 3.00% 1/1/2052  | USD2,375 | $2330 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2019-D, 3.50% 1/1/2049  | 175 | 175 |
| PEFA, Inc., Gas Project Rev. Bonds, Series 2019, 5.00% 9/1/2049 (put 9/1/2026)  | 18345 | 18451 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2023-B, AMT, 5.00% 12/1/2026  | 600 | 606 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2023-B, AMT, 5.00% 12/1/2027  | 1000 | 1029 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2023-B, AMT, 5.00% 12/1/2028  | 435 | 454 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2024-B, AMT, 5.00% 12/1/2028  | 585 | 610 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2025-B, AMT, 5.00% 12/1/2030  | 720 | 765 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2025-B, AMT, 5.00% 12/1/2031  | 725 | 772 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2025-B, AMT, 5.00% 12/1/2032  | 725 | 772 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2025-B, AMT, 4.50% 12/1/2045  | 1025 | 1042 |
|  |  | 27006 |
| **Kansas 0.21%** |  |  |
| Dev. Fin. Auth., Multi Family Rev. Bonds (Emerald Apartments), Series 2026-C, 3.10% 9/1/2028 (put 9/1/2027)  | 750 | 750 |
| Dev. Fin. Auth., Multi Family Rev. Bonds (Seasons), Series 2025-F, 2.95% 9/1/2059 (put 9/1/2027)  | 2375 | 2369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Wichita, Multi Family Housing Rev. Bonds (Market Centre Apartments), Series 2025-4, 3.15% 2/1/2030 <br> (put 2/1/2029)  | 1640 | 1645 |
|  |  | 4764 |
| **Kentucky 2.09%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Carroll, Environmental Facs., Rev. Bonds (Kentucky Utilities Co. Project), Series 2004-A, AMT, 1.75% <br> 10/1/2034 (put 9/1/2026)  | 2000 | 1982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Carroll, Environmental Facs., Rev. Bonds (Kentucky Utilities Co. Project), Series 2016-A, 1.55% 9/1/2042 <br> (put 9/1/2026)  | 2000 | 1981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Econ. Dev. Fin. Auth., Health System Rev. Bonds (Norton Healthcare, Inc.), CAB, Series 2000-B, NATL, 0% 10/1/<br> 2028  | 125 | 114 |
| Higher Education Student Loan Corp., Student Loan Rev. Bonds, Series 2025-A-1, AMT, 5.00% 6/1/2032  | 1530 | 1601 |
| Higher Education Student Loan Corp., Student Loan Rev. Bonds, Series 2025-A-1, AMT, 4.75% 6/1/2040  | 1970 | 1997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Corp., Multi Family Housing Rev. Bonds (Beecher Terrace Phase IV Project), Series 2023, 5.00% 9/1/2043 <br> (put 9/1/2026)  | 2030 | 2033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Corp., Multi Family Housing Rev. Bonds (Winterwood III Rural Housing Portfolio), Series 2024, 3.50% <br> 7/1/2028 (put 7/1/2027)  | 3000 | 3012 |
| Housing Corp., Single Family Mortgage Rev. Bonds, Series 2024-A, 6.25% 7/1/2054  | 510 | 564 |
| Housing Corp., Single Family Mortgage Rev. Bonds, Series 2024-C, 6.25% 1/1/2055  | 295 | 321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series <br> 2016-A, 5.00% 10/1/2033  | 2000 | 2012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Energy Auth., Gas Supply Rev. Bonds, Series 2022-A-2, (USD-SOFR x 0.67 + 1.20%) 3.638% 8/1/2052 (put <br> 8/1/2030) <sup>(b)</sup>  | 570 | 571 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2022-A-1, 4.00% 8/1/2052 (put 8/1/2030)  | 6500 | 6568 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2024-A-1, 5.00% 5/1/2055 (put 7/1/2030)  | 7000 | 7350 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2024-B, 5.00% 2/1/2029  | 625 | 647 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2024-B, 5.00% 2/1/2030  | 525 | 549 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2023-A-1, 5.25% 4/1/2054 (put 2/1/2032)  | 1615 | 1724 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2024-B, 5.00% 1/1/2055 (put 8/1/2032)  | 8015 | 8501 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2025-A, 5.25% 6/1/2055 (put 12/1/2029)  | 4465 | 4725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Trimble, Pollution Control Rev. Ref. Bonds (Louisville Gas and Electric Co. Project), Series 2016-A, AMT, <br> 1.30% 9/1/2044 (put 9/1/2027)  | 1975 | 1913 |
|  |  | 48165 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 13 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Louisiana 1.03%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parish of East Baton Rouge, Sewerage Commission, Multi Modal Rev. Ref. Bonds, Series 2021-A, 1.30% 2/1/2041 <br> (put 2/1/2028)  | USD3,000 | $2853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Corp., Multi Family Housing Rev. Bonds (Arbours at Lafayette Phase II Project), Series 2024, 5.00% <br> 4/1/2028 (put 4/1/2027)  | 2200 | 2238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Corp., Multi Family Housing Rev. Bonds (BW Cooper Senior Project), Series 2025, 3.20% 8/1/2029 (put <br> 8/1/2028)  | 1085 | 1087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Corp., Multi Family Housing Rev. Bonds (Capstone at Covington Place Project), Series 2025, 3.10% <br> 5/1/2043 (put 5/1/2028)  | 1375 | 1375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Corp., Multi Family Housing Rev. Bonds (Deerwood Apartments Project), Series 2024, 4.00% 1/1/2043 <br> (put 7/1/2027)  | 1445 | 1447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Corp., Multi Family Housing Rev. Bonds (NSA East Bank Apartments Project), Series 2025, FHA, 3.15% <br> 4/1/2030 (put 4/1/2029)  | 6010 | 6007 |
| Housing Corp., Single Family Mortgage Rev. Bonds (Home Ownership Program), Series 2023-A, 5.75% 6/1/2054  | 550 | 593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (East Baton Rouge Sewerage <br> Commission Projects), Series 2023, 5.00% 2/1/2027  | 400 | 407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (East Baton Rouge Sewerage <br> Commission Projects), Series 2023, 5.00% 2/1/2029  | 700 | 738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (East Baton Rouge Sewerage <br> Commission Projects), Series 2024, BAM, 5.00% 2/1/2030  | 925 | 997 |
| Louisiana Stadium and Exposition Dist., Rev. Bonds, Series 2023-A, 5.00% 7/1/2030  | 475 | 515 |
| Public Facs. Auth., Rev. and Rev. Ref. Bonds (Ochsner Clinic Foundation Project), Series 2017, 5.00% 5/15/2034  | 4000 | 4059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parish of Tangipahoa, Hospital Service Dist. No. 1, Hospital Rev. Ref. Bonds (North Oaks Health System Project), <br> Series 2021, 5.00% 2/1/2027  | 1500 | 1518 |
|  |  | 23834 |
| **Maine 0.16%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fin. Auth., Student Loan Rev. Bonds (Supplemental Education Loan Program), Series 2025-A-1, AMT, AGI, 5.00% <br> 12/1/2032  | 1170 | 1235 |
| Housing Auth., Mortgage Purchase Bonds, Series 2021-D, 3.00% 11/15/2051  | 2430 | 2400 |
|  |  | 3635 |
| **Maryland 1.43%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2018-A, <br> 4.50% 9/1/2048  | 1020 | 1034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2018-B, <br> AMT, 4.50% 9/1/2048  | 435 | 439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2019-C, <br> 3.50% 3/1/2050  | 350 | 349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2020-A, <br> 3.75% 3/1/2050  | 385 | 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2020-D, <br> 3.25% 9/1/2050  | 2245 | 2229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-A, <br> 3.00% 9/1/2051  | 2175 | 2149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-B, <br> 3.00% 9/1/2051  | 700 | 690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-C, <br> 3.00% 9/1/2051  | 2472 | 2433 |
| GO Bonds, State and Local Facs. Loan of 2017, Series 2017-A-2, 5.00% 8/1/2028  | 1535 | 1583 |
| GO Bonds, State and Local Facs. Loan of 2024, Series 2024-A-1, 5.00% 6/1/2034  | 1000 | 1154 |
| GO Bonds, State and Local Facs. Loan of 2025, Series 2025-A-1, 5.00% 6/1/2029  | 325 | 349 |
| GO Bonds, State and Local Facs. Loan of 2025, Series 2025-B-1, 5.00% 8/1/2029  | 650 | 701 |
| County of Harford, GO Consolidated Public Improvement Bonds, Series 2026-A, 5.00% 10/1/2027  | 5370 | 5557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Higher Educational Facs. Auth., Rev. Bonds (Maryland Institute College of Art Issue), Series 2024, <br> 5.25% 6/1/2032  | 1115 | 1172 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 14 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Maryland (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Higher Educational Facs. Auth., Rev. Bonds (Maryland Institute College of Art Issue), Series 2024, <br> 5.25% 6/1/2042  | USD1,500 | $1511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Montgomery, Housing Opportunities Commission, Single Family Housing Rev. Bonds, Series 2017-A, <br> 4.00% 7/1/2048  | 775 | 775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Montgomery, Housing Opportunities Commission, Single Family Housing Rev. Bonds, Series 2018-A, <br> 4.00% 7/1/2049  | 990 | 991 |
| County of Prince George, GO Consolidated Public Improvement Bonds, Series 2018-A, 5.00% 7/15/2029  | 585 | 617 |
| Dept. of Transportation, Consolidated Transportation Bonds, Series 2019, 5.00% 10/1/2026  | 635 | 641 |
| Dept. of Transportation, Consolidated Transportation Bonds, Series 2025-B, 5.00% 10/1/2029  | 1300 | 1404 |
| Dept. of Transportation, Consolidated Transportation Rev. Ref. Bonds, Series 2025-C, 5.00% 11/1/2029  | 2855 | 3088 |
| Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2020, 5.00% 7/1/2026  | 320 | 321 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2026, 5.00% 6/1/2026  | 3320 | 3327 |
|  |  | 32899 |
| **Massachusetts 1.25%** |  |  |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2024-A, 5.00% 2/1/2027  | 500 | 509 |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2024-B, 5.00% 2/1/2027  | 500 | 509 |
| Clean Water Trust, Revolving Fund Rev. Ref. Green Bonds, Series 2022, 5.00% 2/1/2027  | 750 | 764 |
| Dev. Fin. Agcy., Rev. Bonds (Harvard University Issue), Series 2026-A, 5.00% 2/15/2028  | 9335 | 9749 |
| Dev. Fin. Agcy., Rev. Bonds (Harvard University Issue), Series 2026-A, 5.00% 2/15/2031  | 9105 | 10089 |
| Dev. Fin. Agcy., Rev. Bonds (Harvard University Issue), Series 2026-A, 5.00% 2/15/2033  | 1085 | 1236 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-B, AMT, 4.25% 7/1/2032  | 80 | 81 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2021-B, AMT, 2.00% 7/1/2037  | 145 | 119 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2022-B, AMT, 3.625% 7/1/2038  | 2490 | 2448 |
| Housing Fin. Agcy., Housing Green Bonds, Series 2022-D-3, FHA, 3.35% 6/1/2027  | 1950 | 1950 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 183, 3.50% 12/1/2046  | 40 | 40 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 223, 3.00% 6/1/2047  | 635 | 628 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 224, 5.00% 6/1/2050  | 280 | 290 |
| Housing Fin. Agcy., Single Family Housing Rev. Ref. Bonds, Series 188, AMT, 4.00% 6/1/2043  | 150 | 150 |
| Transportation Fund Rev. Bonds (Rail Enhancement Program), Series 2021-B, 5.00% 6/1/2026  | 350 | 351 |
|  |  | 28913 |
| **Michigan 2.31%** |  |  |
| Great Lakes Water Auth., Sewage Disposal System Rev. Ref. Bonds, Series 2018-B, 5.00% 7/1/2028  | 215 | 226 |
| Hospital Fin. Auth., Hospital Rev. Ref. Bonds (Bronson Healthcare Group, Inc.), Series 2026-B, 5.00% 5/15/2029  | 1000 | 1063 |
| Hospital Fin. Auth., Hospital Rev. Ref. Bonds (Bronson Healthcare Group, Inc.), Series 2026-C, 5.00% 11/15/2029  | 1140 | 1215 |
| Hospital Fin. Auth., Hospital Rev. Ref. Bonds (Bronson Healthcare Group, Inc.), Series 2026-B, 5.00% 5/15/2031  | 1425 | 1558 |
| Hospital Fin. Auth., Hospital Rev. Ref. Bonds (Bronson Healthcare Group, Inc.), Series 2026-B, 5.00% 5/15/2032  | 1150 | 1271 |
| Hospital Fin. Auth., Hospital Rev. Ref. Bonds (Bronson Healthcare Group, Inc.), Series 2026-B, 5.00% 5/15/2033  | 1000 | 1114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hospital Fin. Auth., Rev. Bonds (Ascension Health Credit Group), Series 2010-F-6, 4.00% 11/15/2047 (preref. 11/<br> 15/2026)  | 2045 | 2058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Auth., Multi Family Housing Rev. Bonds (4401 Rosa Parks Apartments Project), Series 2025, 5.00% <br> 2/1/2028 (put 2/1/2027)  | 5310 | 5386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Auth., Multi Family Housing Rev. Bonds (Kalamazoo Community Courtyard Project), Series 2025, <br> 5.00% 12/1/2027 (put 12/1/2026)  | 2000 | 2022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Auth., Multi Family Housing Rev. Bonds (North Port Apartments Project), Series 2025, FHA, 5.00% <br> 8/1/2027 (put 8/1/2026)  | 7070 | 7104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Auth., Multi Family Housing Rev. Bonds (The Dean Apartments At Eastlawn Project), Series 2025, <br> 2.90% 9/1/2045 (put 9/1/2028)  | 3000 | 2989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Auth., Multi Family Housing Rev. Bonds (The Flats at Carriage Commons Phase I Project), Series <br> 2024, 3.80% 7/1/2041 (put 7/1/2026)  | 3000 | 3003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Auth., Multi Family Housing Rev. Bonds (Trumbull Apartments Project), Series 2026, 4.00% <br> 10/1/2029 (put 10/1/2028)  | 700 | 714 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.50% 6/1/2047  | 90 | 90 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2017-B, 3.50% 6/1/2048  | 545 | 544 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 15 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Michigan (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-A, 4.00% 12/1/2048  | USD1,135 | $1137 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-C, 4.25% 6/1/2049  | 1550 | 1558 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.50% 12/1/2050  | 1820 | 1817 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 6/1/2052  | 2060 | 2031 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-A, 5.00% 6/1/2053  | 2000 | 2080 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-D, 5.50% 6/1/2053  | 4280 | 4510 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2024-D, 6.25% 6/1/2055  | 1920 | 2097 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2025-A, 6.25% 12/1/2055  | 6950 | 7678 |
|  |  | 53265 |
| **Minnesota 1.15%** |  |  |
| GO State Trunk Highway Rev. Ref. Bonds, Series 2022-B, 5.00% 8/1/2028  | 500 | 527 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-C, AMT, 4.00% 1/1/2045  | 65 | 65 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2017-E, 4.00% 1/1/2048  | 100 | 100 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2018-B, 4.00% 7/1/2048  | 290 | 290 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2018-E, 4.25% 1/1/2049  | 1085 | 1095 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-B, 3.50% 7/1/2050  | 630 | 629 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-E, 3.50% 7/1/2050  | 515 | 514 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-I, 3.00% 1/1/2051  | 2125 | 2100 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-B, 3.00% 7/1/2051  | 370 | 365 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-D, 3.00% 1/1/2052  | 2880 | 2836 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-F, 3.00% 7/1/2052  | 2480 | 2441 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-H, 3.00% 7/1/2052  | 1795 | 1768 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2022-A, 3.00% 7/1/2052  | 3325 | 3270 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2023-F, 5.75% 7/1/2053  | 750 | 797 |
| Various Purpose GO Bonds, Series 2025-A, 5.00% 8/1/2028  | 3475 | 3664 |
| Various Purpose GO Bonds, Series 2025-D, 5.00% 8/1/2028  | 3735 | 3938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Washington, Community Dev. Agcy., Multi Family Housing Rev. Bonds (Red Rock Manor Project), Series <br> 2025, 3.15% 2/1/2046 (put 8/1/2028)  | 2125 | 2128 |
|  |  | 26527 |
| **Mississippi 0.04%** |  |  |
| Home Corp., Single Family Mortgage Rev. Bonds, Series 2026-A, 6.25% 12/1/2055  | 830 | 928 |
| **Missouri 1.06%** |  |  |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (BJC Health System), Series 2026-A, 5.00% 4/1/2033  | 4000 | 4478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Educational Facs. Auth., Health Facs. Rev. Bonds (BJC Health System), Series 2021-B, 4.00% 5/1/2051 <br> (put 5/1/2026)  | 1000 | 1000 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (CoxHealth), Series 2025-A, 5.00% 11/15/2032  | 900 | 990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), <br> Series 2016-B, 3.50% 5/1/2041  | 355 | 354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), <br> Series 2018-A, 4.25% 5/1/2049  | 575 | 578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), <br> Series 2020-A, 3.50% 11/1/2050  | 1330 | 1326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), <br> Series 2020-C, 3.50% 11/1/2050  | 485 | 484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), <br> Series 2020-D, 3.25% 5/1/2051  | 2110 | 2095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), <br> Series 2021-A, 3.00% 5/1/2052  | 655 | 646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), <br> Series 2021-B, 3.00% 5/1/2052  | 2735 | 2698 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 16 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Missouri (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), <br> Series 2021-C, 3.25% 11/1/2052  | USD630 | $625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), <br> Series 2023-E, 6.50% 5/1/2054  | 915 | 1020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), <br> Series 2024-A, 5.75% 5/1/2055  | 2480 | 2701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), <br> Series 2025-A, 6.00% 5/1/2056  | 625 | 683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kansas City Area Transportation Auth., Multi Family Housing Rev. Bonds (Mabion Fac.), Series 2024-A, 3.05% <br> 10/1/2045 (put 10/1/2027)  | 4215 | 4217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of St. Louis, Industrial Dev. Auth., Multi Family Rev. Bonds (The Brewery Apartments), Series 2025, 3.15% <br> 4/1/2046 (put 4/1/2028)  | 620 | 621 |
|  |  | 24516 |
| **Montana 0.43%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Board of Housing, Multi Family Housing Rev. Bonds (Aurora Apartments), Series 2024, 3.32% 7/1/2046 (put 2/1/<br> 2028)  | 4355 | 4373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Board of Housing, Multi Family Housing Rev. Bonds (Franklin School Apartments Project), Series 2025-A, 3.625% <br> 10/1/2028 (put 10/1/2026)  | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Board of Housing, Multi Family Housing Rev. Bonds (Hidden Creek 4 Project), Series 2026, 3.05% 11/1/2046 (put <br> 5/1/2029)  | 685 | 685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Board of Housing, Multi Family Housing Rev. Bonds (Twin Creek 4 Apartments Project), Series 2024, 5.00% <br> 9/1/2028 (put 9/1/2027)  | 1084 | 1112 |
| Board of Housing, Single Family Mortgage Bonds, Series 2016-A-2, 3.50% 6/1/2044  | 30 | 30 |
| Board of Housing, Single Family Mortgage Bonds, Series 2019-A, FHA, 4.25% 12/1/2045  | 590 | 592 |
| Board of Housing, Single Family Mortgage Bonds, Series 2020-C, 3.00% 12/1/2050  | 530 | 525 |
| Board of Housing, Single Family Mortgage Bonds, Series 2020-B, 4.00% 12/1/2050  | 445 | 449 |
| Board of Housing, Single Family Mortgage Bonds, Series 2021-B, 3.00% 12/1/2051  | 215 | 213 |
| Board of Housing, Single Family Mortgage Bonds, Series 2022-A, 3.00% 6/1/2052  | 885 | 874 |
|  |  | 9853 |
| **Nebraska 0.26%** |  |  |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2017-B, AMT, 3.50% 3/1/2040  | 25 | 25 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2016-C, 3.50% 9/1/2046  | 30 | 30 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-A, 4.00% 9/1/2048  | 150 | 151 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-C, 4.00% 9/1/2048  | 1555 | 1565 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2019-B, AMT, 4.00% 9/1/2049  | 1105 | 1106 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2020-C, 3.00% 9/1/2050  | 245 | 242 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2021-C, 3.00% 9/1/2050  | 3020 | 2977 |
|  |  | 6096 |
| **Nevada 0.37%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Division, Multi Unit Housing Rev. Bonds (Carville Park Apartments), Series 2024, 5.00% 7/1/2028 (put 7/<br> 1/2027)  | 745 | 762 |
| Housing Division, Single Family Mortgage Rev. Ref. Bonds, Series 2022-A, 3.50% 4/1/2051  | 570 | 569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Las Vegas, Special Improvement Dist. No. 818 (Summerlin Village 27), Local Improvement Bonds, Series <br> 2024, 4.50% 12/1/2027  | 300 | 305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series <br> 2022-B, 5.00% 7/1/2029  | 1210 | 1296 |
| Las Vegas Valley Water Dist., Limited Tax GO Water Rev. Ref. Bonds, Series 2020-A, 5.00% 6/1/2026  | 1685 | 1688 |
| Las Vegas Valley Water Dist., Limited Tax GO Water Rev. Ref. Bonds, Series 2016-B, 5.00% 6/1/2031  | 1750 | 1754 |
| Las Vegas Valley Water Dist., Limited Tax GO Water Rev. Ref. Bonds, Series 2016-B, 5.00% 6/1/2034  | 2195 | 2199 |
|  |  | 8573 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 17 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **New Hampshire 0.51%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Education Facs. Auth., Education Loan Rev. Bonds (Granite Edvance Corp. Issue), Series 2024-B, AMT, <br> 5.00% 11/1/2029  | USD750 | $784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Education Facs. Auth., Education Loan Rev. Bonds (Granite Edvance Corp. Issue), Series 2024-B, AMT, <br> 4.00% 11/1/2044  | 390 | 387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Education Facs. Auth., Education Loan Rev. Bonds (New Hampshire Higher Education Loan Corp. <br> Issue), Series 2023-B, AMT, 5.00% 11/1/2043  | 475 | 494 |
| Housing Fin. Auth., Single Family Mortgage Acquisition Rev. Bonds, Series 2025-E, 6.25% 7/1/2056  | 3295 | 3726 |
| Housing Fin. Auth., Single Family Mortgage Rev. Bonds, Series 2023-A, 6.00% 7/1/2053  | 335 | 356 |
| Housing Fin. Auth., Single Family Mortgage Rev. Bonds, Series 2023-B, 6.00% 1/1/2055  | 2370 | 2537 |
| National Fin. Auth., Rev. Bonds (Winston-Salem Sustainable Energy Partners), Series 2025-A, 5.00% 6/1/2031  | 660 | 713 |
| National Fin. Auth., Rev. Bonds (Winston-Salem Sustainable Energy Partners), Series 2025-A, 5.00% 6/1/2032  | 2500 | 2720 |
|  |  | 11717 |
| **New Jersey 2.60%** |  |  |
| City of Bayonne, General Improvement Rev. Ref. Bonds, Series 2016, BAM, 5.00% 7/1/2031 (preref. 7/1/2026)  | 1000 | 1004 |
| City of Bayonne, General Improvement Rev. Ref. Bonds, Series 2016, BAM, 5.00% 7/1/2032 (preref. 7/1/2026)  | 1000 | 1004 |
| City of Bayonne, General Improvement Rev. Ref. Bonds, Series 2016, BAM, 5.00% 7/1/2035 (preref. 7/1/2026)  | 1000 | 1004 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2017-DDD, 5.00% 6/15/2031 (preref. 6/15/2027)  | 1670 | 1716 |
| Econ. Dev. Auth., School Facs. Construction Rev. Ref. Bonds, Series 2023-RRR, 5.00% 3/1/2028  | 3150 | 3275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020, AMT, 1.10% <br> 11/1/2029 (put 12/1/2027)  | 2325 | 2208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Facs. Fncg. Auth., Rev. and Rev. Ref. Bonds (RWJ Barnabas Health Obligated Group Issue), Series <br> 2026-A, 5.00% 7/1/2031  | 2670 | 2928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Facs. Fncg. Auth., Rev. and Rev. Ref. Bonds (RWJ Barnabas Health Obligated Group Issue), Series <br> 2019-B-3, 5.00% 7/1/2045 (put 7/1/2026)  | 1000 | 1004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series <br> 2017-A, 5.00% 7/1/2037  | 1130 | 1153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series <br> 2017-A, 5.00% 7/1/2038  | 4735 | 4827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series <br> 2017-A, 5.00% 7/1/2039  | 1460 | 1487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Education Student Assistance Auth., Student Loan Rev. and Rev. Ref. Bonds, Series 2022, AMT, 4.00% <br>12/1/2041  | 345 | 341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Education Student Assistance Auth., Student Loan Rev. and Rev. Ref. Bonds, Series 2025, AMT, 4.50% 12/<br> 1/2045  | 4180 | 4225 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2018-A, AMT, 3.75% 12/1/2031  | 155 | 155 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2015-1B, AMT, 5.00% 12/1/2031  | 1000 | 1072 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2019-B, AMT, 3.00% 12/1/2032  | 2500 | 2445 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2020-B, AMT, 3.50% 12/1/2039  | 805 | 785 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2019-B, 5.00% 12/1/2026  | 1025 | 1037 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2024-A, AMT, 5.00% 12/1/2027  | 1275 | 1313 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2024-B, AMT, 5.00% 12/1/2027  | 2440 | 2512 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2019-B, AMT, 3.00% 12/1/2034  | 1500 | 1412 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2020-A, AMT, 3.50% 12/1/2039  | 1360 | 1330 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2023-B, AMT, 4.00% 12/1/2044  | 5535 | 5354 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2024-B, AMT, 4.25% 12/1/2045  | 2555 | 2548 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2018-A, 4.50% 10/1/2048  | 1245 | 1263 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2019-C, 4.75% 10/1/2050  | 210 | 213 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2020-E, 3.50% 4/1/2051  | 750 | 749 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2023-J, 5.50% 4/1/2053  | 885 | 948 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2022-I, 5.00% 10/1/2053  | 1245 | 1292 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2024-K, 6.00% 10/1/2055  | 490 | 529 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2018-A, 5.00% 12/15/2032  | 2070 | 2174 |
| Transportation Trust Fund Auth., Transportation System Bonds, CAB, Series 2010-A, BAM, 0% 12/15/2028  | 1640 | 1520 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 18 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **New Jersey (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Turnpike Auth., Turnpike Rev. Bonds, Series 2020-D, 5.00% 1/1/2028  | USD2,720 | $2787 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2025-B, 5.00% 1/1/2030  | 2185 | 2367 |
|  |  | 59981 |
| **New Mexico 0.31%** |  |  |
| Educational Assistance Foundation, Education Loan Bonds, Series 2021-1-A, AMT, 2.05% 9/1/2051  | 415 | 377 |
| GO Bonds (Capital Projects), Series 2025, 5.00% 3/1/2027 (escrowed to maturity)  | 2225 | 2268 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2016-A-2, Class I, AMT, 3.50% 3/1/2046  | 105 | 105 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2017-B-2, Class I, AMT, 3.75% 3/1/2048  | 180 | 180 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2018-C, Class I, 4.00% 1/1/2049  | 395 | 396 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2019-C-1, Class I, 4.00% 7/1/2050  | 220 | 221 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2022-D, Class I, 5.25% 3/1/2053  | 2560 | 2705 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2023-C, Class I, 5.75% 3/1/2054  | 795 | 853 |
|  |  | 7105 |
| **New York 9.31%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 5.00% 3/15/2027 <br> (escrowed to maturity)  | 1565 | 1599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 5.00% 3/15/2027 <br> (escrowed to maturity)  | 1485 | 1515 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2026-A, 5.00% 3/15/2028  | 2700 | 2823 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-E, 5.00% 3/15/2027 (escrowed to maturity)  | 1065 | 1088 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2024-B, 5.00% 3/15/2030  | 2120 | 2317 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2025-A, 5.00% 3/15/2032  | 2470 | 2789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Environmental Facs. Corp., Clean Water and Drinking Water Revolving Funds Rev. Bonds (New York City <br> Municipal Water Fin. Auth. Projects - Second Resolution Bonds), Series 2026-A, 5.00% 6/15/2028  | 1200 | 1266 |
| Housing Fin. Agcy., 160 West 62nd Street Housing Rev. Bonds, Series 2011-A-1, 3.60% 11/1/2044 (put 4/1/2032)  | 1895 | 1910 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-J-2, 1.10% 11/1/2061 (put 5/1/2027)  | 3380 | 3292 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2023-A-2, 3.60% 11/1/2062 (put 5/1/2027)  | 3410 | 3411 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2025-D-2, 3.20% 5/1/2065 (put 11/1/2030)  | 5335 | 5341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 0.95% 11/15/<br> 2027  | 3645 | 3468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-2, 5.00% 11/15/2045 (put <br>5/15/2030)  | 1000 | 1070 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2028  | 3490 | 3646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Monroe, Industrial Dev. Agcy., Multi Family Housing Rev. Bonds (Andrews Terrace Community Partners, <br> L.P. Project), Series 2023-B-2, 5.00% 7/1/2028 (put 7/1/2027)  | 1520 | 1554 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 223, 1.95% 4/1/2027  | 1750 | 1726 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 206, AMT, 4.00% 10/1/2037  | 115 | 115 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 233, 3.00% 10/1/2045  | 2975 | 2937 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 213, 4.25% 10/1/2047  | 965 | 970 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 239, 3.25% 10/1/2051  | 690 | 683 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 242, 3.50% 10/1/2052  | 85 | 85 |
| New York City GO Bonds, Fiscal 2018, Series 2018-1, 5.00% 8/1/2031  | 1560 | 1600 |
| New York City GO Bonds, Fiscal 2020, Series 2020-C-1, 5.00% 8/1/2027  | 1000 | 1030 |
| New York City GO Bonds, Fiscal 2022, Series 2022-C, 5.00% 8/1/2031  | 490 | 541 |
| New York City GO Bonds, Fiscal 2022, Series 2022-A-1, 5.00% 8/1/2033  | 15 | 16 |
| New York City GO Bonds, Fiscal 2023, Series 2023-F-1, 5.00% 8/1/2027  | 2260 | 2327 |
| New York City GO Bonds, Fiscal 2023, Series 2023-F-1, 5.00% 8/1/2028  | 600 | 631 |
| New York City GO Bonds, Fiscal 2023, Series 2023-F-1, 5.00% 8/1/2030  | 665 | 725 |
| New York City GO Bonds, Fiscal 2025, Series 2025-F, 5.00% 8/1/2029  | 5830 | 6249 |
| New York City GO Bonds, Fiscal 2025, Series 2025-G-1, 5.00% 2/1/2030  | 1150 | 1243 |
| New York City GO Bonds, Fiscal 2025, Series 2025-A, 5.00% 8/1/2031  | 1700 | 1878 |
| New York City GO Bonds, Fiscal 2025, Series 2025-A, 5.00% 8/1/2032  | 5570 | 6231 |
| New York City GO Bonds, Fiscal 2026, Series 2026-D, 5.00% 10/1/2032  | 4000 | 4483 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 19 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **New York (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2024-B-2, <br> 3.70% 5/1/2064 (put 7/3/2028)  | USD4,185 | $4224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2024-F-2, <br> 3.40% 11/1/2064 (put 1/2/2029)  | 6185 | 6209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2026-E-2, <br> 3.125% 11/1/2065 (put 7/1/2030)  | 2330 | 2324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2026-A-2, <br> 3.25% 11/1/2065 (put 2/1/2030)  | 5000 | 5020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series <br> 2023-E-2, 3.80% 11/1/2063  | 1830 | 1845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series <br> 2025-A-2, 3.25% 11/1/2064 (put 7/1/2029)  | 4230 | 4250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series <br> 2025-C-2, 3.75% 5/1/2065 (put 7/2/2029)  | 4505 | 4556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Dev. Corp., Multi Family Mortgage Rev. Bonds (8 Spruce Street), Series 2024-D, 4.00% 12/<br> 15/2031  | 110 | 111 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2026-S-2, 5.00% 7/15/2030  | 3520 | 3866 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2017, Series 2017-C, 5.00% 11/1/2032  | 1470 | 1503 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2022, Series 2022-A-1, 5.00% 11/1/2027  | 775 | 803 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-G-1, 5.00% 5/1/2028  | 1985 | 2077 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-F, 5.00% 11/1/2027  | 800 | 829 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-A, 5.00% 11/1/2028  | 4300 | 4551 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-C-C1, 5.00% 5/1/2030  | 1630 | 1775 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-A-1, 5.00% 11/1/2030  | 1500 | 1647 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-G, 5.00% 11/1/2030  | 4165 | 4573 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-H-1, 5.00% 11/1/2030  | 1100 | 1208 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-F-F1, 5.00% 11/1/2031  | 6500 | 7244 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-H-H1, 5.00% 11/1/2031  | 1400 | 1560 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-D-1, 5.00% 11/1/2027  | 5980 | 6194 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-F-1, 5.00% 2/1/2028  | 870 | 907 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-D-1, 5.00% 11/1/2028  | 2280 | 2413 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-F-1, 5.00% 2/1/2029  | 835 | 888 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-A-1, 5.00% 5/1/2030  | 2330 | 2537 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-D-1, 5.00% 11/1/2033  | 5000 | 5681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Trust for Cultural Resources, Rev. Bonds (Lincoln Center for the Performing Arts, Inc.), Series <br> 2026-A, 5.00% 12/1/2030  | 5000 | 5436 |
| Port Auth., Consolidated Bonds, Series 226, AMT, 5.00% 10/15/2027  | 3705 | 3822 |
| Port Auth., Consolidated Bonds, Series 246, AMT, 5.00% 9/1/2028  | 2000 | 2100 |
| Port Auth., Consolidated Bonds, Series 207, AMT, 5.00% 9/15/2028  | 4455 | 4615 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2026-A, 5.00% 1/1/2028  | 1920 | 2001 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2022-A-1, 5.00% 3/15/2027 (escrowed to maturity)  | 2000 | 2042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), <br> Series 2022, AMT, 5.00% 12/1/2028  | 5510 | 5748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), <br> Series 2020-A, AMT, 5.00% 12/1/2029  | 1000 | 1058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Bonds Anticipation Notes (MTA Bridges and Tunnels), <br> Series 2026-A, 5.00% 2/1/2028  | 12455 | 12975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Bonds Anticipation Notes (MTA Bridges and Tunnels), <br> Series 2026-A-2, 5.00% 2/1/2029  | 5000 | 5329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Green Bonds (MTA Bridges and Tunnels), Series <br> 2022-E-1, 5.00% 11/15/2027  | 4950 | 5105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Triborough Bridge and Tunnel Auth., Real Estate Transfer Tax Rev. Bonds (MTA Bridges and Tunnels), Series <br> 2025-A, 5.00% 12/1/2031  | 1600 | 1800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Triborough Bridge and Tunnel Auth., Sales Tax Rev. Bonds (MTA Bridges and Tunnels), Series 2024-A-1, 5.00% 5/<br> 15/2030  | 625 | 685 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 20 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **New York (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Triborough Bridge and Tunnel Auth., Sales Tax Rev. Bonds (MTA Bridges and Tunnels), Series 2024-A-1, 5.00% <br>5/15/2031  | USD900 | $1003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Triborough Bridge and Tunnel Auth., Sales Tax Rev. Bonds (MTA Bridges and Tunnels), Series 2024-A-1, 5.00% <br>5/15/2032  | 800 | 903 |
| TSASC, Inc., Tobacco Settlement Bonds, Series 2017-A, 5.00% 6/1/2027  | 1500 | 1533 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2025-TE-2, 5.00% 6/15/2032  | 8500 | 9302 |
|  |  | 214811 |
| **North Carolina 2.67%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Charlotte, Charlotte Douglas International Airport, Airport Rev. Bonds, Series 2023-B, AMT, 5.00% 7/1/<br> 2026  | 375 | 376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Charlotte, Charlotte Douglas International Airport, Airport Rev. Bonds, Series 2023-B, AMT, 5.00% 7/1/<br> 2027  | 500 | 512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Charlotte, Charlotte Douglas International Airport, Airport Rev. Bonds, Series 2023-B, AMT, 5.00% 7/1/<br> 2028  | 500 | 522 |
| City of Charlotte, GO Rev. Ref. Bonds, Series 2025-B, 5.00% 7/1/2027  | 2465 | 2536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Durham, Housing Auth. Multi Family Housing Rev. Bonds (Page Corners Apartments), Series 2025, 3.15% <br> 7/1/2059 (put 7/1/2028)  | 2215 | 2220 |
| Educational Assistance Auth., Student Loan Rev. Bonds, Series 2023-A, AMT, 5.00% 6/1/2043  | 1270 | 1303 |
| Educational Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2025-A, AMT, 5.00% 6/1/2045  | 1600 | 1649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gastonia Housing Auth. Multi Family Housing Rev. Bonds (Stonecroft Village), Series 2024-B, 3.50% 5/1/2028 (put <br> 5/1/2027)  | 2024 | 2034 |
| GO Rev. Ref. Bonds, Series 2026-A, 5.00% 6/1/2028  | 2250 | 2367 |
| GO Rev. Ref. Bonds, Series 2026-A, 5.00% 6/1/2029  | 4000 | 4300 |
| GO School Bonds, Series 2023, 5.00% 9/1/2029  | 500 | 540 |
| GO School Bonds, Series 2023, 5.00% 9/1/2030  | 520 | 573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Home Ownership Rev. and Rev. Ref. Bonds (1998 Trust Agreement), Series 45, 3.00% 7/1/<br> 2051  | 165 | 163 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 44, 2.05% 1/1/2028  | 745 | 727 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 40, 4.25% 7/1/2047  | 725 | 729 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 47, 3.00% 7/1/2051  | 3715 | 3671 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 51, 5.75% 1/1/2054  | 1760 | 1872 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 49, 6.00% 7/1/2053  | 340 | 361 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 50, 5.50% 1/1/2054  | 1825 | 1954 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 53-A, 6.25% 1/1/2055  | 935 | 1009 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 54-A, 6.25% 1/1/2055  | 845 | 937 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 55-A, 6.25% 7/1/2055  | 900 | 982 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 60, 6.25% 7/1/2057  | 750 | 854 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 38-B, 4.00% 7/1/2047  | 600 | 601 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 42, 4.00% 1/1/2050  | 595 | 598 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 44, 4.00% 7/1/2050  | 1760 | 1771 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 46-A, 3.00% 7/1/2051  | 1085 | 1070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Fitch Irick Portfolio), Series 2024, 5.00% 4/1/2029 (put 4/1/<br> 2028)  | 1000 | 1038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Corp., Multi Family Housing Rev. Bonds (Weaver-PPM Portfolio), Series 2024, 4.00% 3/1/2028 (put <br> 3/1/2027)  | 2680 | 2700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inlivian Multi Family Housing Rev. Bonds (Central at Old Concord), Series 2025, 3.30% 11/10/2043 (put 11/1/<br> 2028)  | 1915 | 1929 |
| Limited Obligation Rev. Ref. Bonds, Series 2025-B, 5.00% 5/1/2027  | 3110 | 3184 |
| Limited Obligation Rev. Ref. Bonds, Series 2025-B, 5.00% 5/1/2028  | 2670 | 2799 |
| County of Mecklenburg, Limited Obligation Bonds, Series 2025, 5.00% 2/1/2030  | 1615 | 1755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (The United Methodist Retirement Homes <br> Project), Series 2024-B-2, 3.75% 10/1/2028  | 5 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Town of Morehead City, Multi Family Housing Rev. Bonds (Elijah's Landing), Series 2024, FHA, 4.05% 1/1/2028 <br> (put 1/1/2027)  | 3490 | 3512 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 21 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **North Carolina (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Raleigh, Housing Auth., Multi Family Housing Rev. Bonds (Tyron Flats), Series 2025, 2.95% 9/1/2059 (put <br> 3/1/2029)  | USD3,790 | $3777 |
| Raleigh-Durham Airport Auth., Airport Rev. Ref. Bonds, Series 2015-B, AMT, 5.00% 5/1/2026  | 1615 | 1615 |
| Raleigh-Durham Airport Auth., Airport Rev. Ref. Bonds, Series 2015-B, AMT, 5.00% 5/1/2028  | 1000 | 1002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Wilmington Housing Auth., Multi Family Housing Rev. Bonds (Avenue Flats), Series 2025, 2.95% 5/1/2044 <br> (put 5/1/2028)  | 2030 | 2029 |
|  |  | 61576 |
| **North Dakota 1.10%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Cass, Joint Water Resource Dist., Temporary Rev. Ref. Improvement Bonds, Series 2024-A, 3.45% 4/1/<br> 2027  | 6290 | 6291 |
| Housing Fin. Agcy., Homeownership Rev. Bonds (Home Mortgage Fin. Program), Series 2016-D, 3.50% 7/1/2046  | 285 | 284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2016-B, AMT, 4.00% 1/1/<br> 2047  | 580 | 580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2017-D, FHA, 4.00% 1/1/<br> 2048  | 170 | 170 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2017-F, 4.00% 7/1/2048  | 650 | 651 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2018-A, 4.00% 1/1/2049  | 2275 | 2278 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2018-D, 4.25% 1/1/2049  | 1585 | 1592 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-A, 4.25% 7/1/2049  | 190 | 191 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-C, 4.00% 1/1/2050  | 475 | 480 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-F, 3.75% 7/1/2050  | 280 | 280 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2020-B, 3.00% 7/1/2051  | 875 | 865 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-A, 3.00% 1/1/2052  | 430 | 424 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-B, 3.00% 7/1/2052  | 1475 | 1446 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2022-A, 4.00% 1/1/2053  | 3705 | 3744 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2023-A, 5.75% 7/1/2053  | 1515 | 1603 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2023-D, 5.75% 1/1/2054  | 835 | 888 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2024-A, 6.00% 7/1/2054  | 425 | 458 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2024-C, 6.25% 1/1/2055  | 2515 | 2791 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2024-D, 6.00% 7/1/2055  | 270 | 299 |
|  |  | 25315 |
| **Ohio 3.01%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Air Quality Dev. Auth. Rev. Ref. Bonds, (American Electric Power Co. Project), Series 2005-C, AMT, 3.70% 4/1/<br> 2028  | 1695 | 1706 |
| Air Quality Dev. Auth. Rev. Ref. Bonds, (American Electric Power Co. Project), Series 2005-B, AMT, 3.70% 7/1/2028  | 1965 | 1979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Air Quality Dev. Auth. Rev. Ref. Bonds, (American Electric Power Co. Project), Series 2005-A, AMT, 3.75% 1/1/<br> 2029  | 1000 | 1009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Air Quality Dev. Auth., Air Quality Dev. Rev. Ref. Bonds (Duke Energy Corp. Project), Series 2022-B, AMT, 4.25% <br> 11/1/2039 (put 6/1/2027)  | 3220 | 3248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Akron, Bath and Copley Joint Township Hospital Dist., Hospital Facs. Rev. Ref. Bonds (Summa Health Obligated <br> Group), Series 2020, 5.00% 11/15/2028 (escrowed to maturity)  | 460 | 486 |
| GO Infrastructure Improvement Bonds, Series 2026-A, 5.00% 3/1/2029  | 1880 | 2008 |
| GO Infrastructure Improvement Rev. Ref. Bonds, Series 2022-B, 4.00% 3/1/2027  | 1000 | 1012 |
| GO Infrastructure Improvement Rev. Ref. Bonds, Series 2021-B, 5.00% 2/1/2030  | 170 | 185 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2023, 4.00% 7/1/2029  | 515 | 528 |
| Higher Education GO Rev. Ref. Bonds, Series 2025-B, 5.00% 11/1/2028  | 2575 | 2732 |
| Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2026-A, 5.00% 1/1/2029  | 16200 | 17162 |
| Hospital Rev. Bonds (University Hospitals Health System, Inc.), Series 2025-A, 5.00% 1/15/2027  | 1755 | 1778 |
| Hospital Rev. Bonds (University Hospitals Health System, Inc.), Series 2025-A, 5.00% 1/15/2031  | 4125 | 4477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Beechwood Apartments), Series 2025, 3.37% 3/1/2028 (put <br> 3/1/2027)  | 2350 | 2356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Community Pendleton Project), Series 2025, 3.40% <br> 7/1/2042 (put 2/1/2028)  | 1300 | 1304 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 22 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Ohio (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Seton Square Portsmouth Apartments Project), Series <br> 2025-A, 5.00% 10/1/2028 (put 10/1/2027)  | USD3,140 | $3225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Multi Family Housing Rev. Bonds (The Scarborough), Series 2026-B, 2.75% 10/1/2029 (put <br> 10/1/2028)  | 645 | 639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2016-K, <br> 3.50% 9/1/2046  | 185 | 185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2016-D, <br> 4.00% 3/1/2047  | 85 | 85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2017-B, <br> AMT, 4.50% 3/1/2047  | 75 | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2017-D, <br> 4.00% 3/1/2048  | 760 | 761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2019-A, <br> 4.50% 9/1/2049  | 995 | 1004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2020-A, <br> 3.75% 9/1/2050  | 1255 | 1259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2021-C, <br> 3.25% 3/1/2051  | 1960 | 1941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2021-A, <br> 3.00% 3/1/2052  | 1100 | 1085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2025-B, <br> 6.50% 3/1/2056  | 4290 | 4890 |
| Miami University, General Receipts and Rev. Ref. Bonds, Series 2022-A, 5.00% 9/1/2027  | 575 | 593 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 5.00% 8/1/2029  | 175 | 186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Summit, Dev. Fin. Auth. Multi Family Housing Rev. Bonds (Wintergreen Ledges Apartments), Series <br> 2025, 5.00% 4/1/2028 (put 4/1/2027)  | 3780 | 3846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2022-A, 5.00% <br> 2/15/2028  | 500 | 521 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 6/1/2026  | 300 | 300 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 12/1/2026  | 450 | 456 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 6/1/2029  | 245 | 263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Dev. Auth., Water Dev. Rev. and Rev. Ref. Bonds (Fresh Water Revolving Fund), Series 2026-A, 5.00% 6/1/<br> 2032  | 2750 | 3097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Dev. Auth., Water Dev. Rev. and Rev. Ref. Bonds (Fresh Water Revolving Fund), Series 2026-A, 5.00% 12/1/<br> 2032  | 1750 | 1983 |
| Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2017-A, 5.00% 6/1/2028  | 250 | 257 |
| Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2023-C, 5.00% 6/1/2028  | 725 | 761 |
|  |  | 69382 |
| **Oklahoma 0.39%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2022-A, 5.00% <br> 3/1/2052  | 2195 | 2273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2023-B, 5.75% 9/<br> 1/2053  | 895 | 970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2024-A, 6.00% <br> 9/1/2054  | 910 | 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2024-B, 6.25% 9/<br> 1/2055  | 735 | 816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2024-C, 6.00% <br> 3/1/2056  | 1805 | 1990 |
| Tulsa County Independent School Dist. No. 1, Combined Purpose GO Bonds, Series 2021-B, 2.00% 9/1/2026  | 2000 | 1990 |
|  |  | 9039 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 23 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Oregon 0.93%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Dept. of Administrative Services, State Lottery Rev. Bonds, Series 2025-A, 5.00% 4/1/2029  | USD2,735 | $2929 |
| GO Bonds (Article XI-M, XI-N, and XI-P State Grant Programs), Series 2023-A, 5.00% 6/1/2026  | 1200 | 1202 |
| GO Bonds (Article XI-Q State Projects), Series 2023-A, 5.00% 5/1/2027  | 776 | 795 |
| GO Bonds (Article XI-Q State Projects), Series 2025-K, 5.00% 11/1/2027  | 2770 | 2873 |
| GO Bonds (Veteran's Welfare Bonds Series 99B), Series 2017-Q, 3.50% 12/1/2047  | 220 | 220 |
| GO Bonds (Veteran's Welfare Bonds Series 108), Series 2021-O, 3.00% 12/1/2051  | 1780 | 1745 |
| GO Bonds (Veteran's Welfare Bonds Series 109), Series 2022-D, 5.00% 12/1/2052  | 1215 | 1261 |
| GO Bonds (Veteran's Welfare Bonds Series 111), Series 2023-E, 5.50% 12/1/2053  | 575 | 616 |
| GO Rev. Ref. Bonds (Article XI-F1 State Projects), Series 2025-F, 5.00% 8/1/2030  | 1500 | 1647 |
| GO Rev. Ref. Bonds (Article XI-G State Projects), Series 2025-G, 5.00% 8/1/2029  | 1560 | 1681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing and Community Services Dept., Housing Dev. Rev. Bonds (Verde Pines Project), Series 2025-O, 3.10% <br> 12/1/2059 (put 2/1/2028)  | 870 | 871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series <br> 2017-A, 4.00% 7/1/2047  | 560 | 560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series <br> 2024-C, 6.50% 7/1/2054  | 565 | 626 |
| Port of Portland, Portland International Airport Rev. Ref. Green Bonds, Series 30-A, AMT, 5.00% 7/1/2031  | 4000 | 4354 |
| Dept. of Transportation, Highway User Tax Rev. Bonds, Series 2026-A, 5.00% 11/15/2028  | 155 | 164 |
|  |  | 21544 |
| **Pennsylvania 3.00%** |  |  |
| Central Dauphin School Dist., GO Bonds, Series 2016, 5.00% 2/1/2027 (preref. 8/1/2026)  | 995 | 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2009, 0.95% <br> 12/1/2033 (put 12/1/2026)  | 5000 | 4931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2011, AMT, <br> 4.25% 7/1/2041 (put 7/1/2027)  | 2000 | 2021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2021-A-2, <br> AMT, 4.60% 10/1/2046 (put 10/1/2026)  | 17500 | 17539 |
| County of Erie, Erie City Water Auth., Water Rev. Bonds, Series 2016, 5.00% 12/1/2043 (preref. 12/1/2026)  | 1200 | 1216 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/1/2026  | 95 | 95 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/1/2027  | 525 | 532 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/1/2030  | 400 | 420 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2023-A, AMT, 5.00% 6/1/2030  | 3055 | 3214 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2025-1A, AMT, 5.00% 6/1/2030  | 2550 | 2675 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2024-1A, AMT, 5.00% 6/1/2031  | 1275 | 1347 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2025-1A, AMT, 5.00% 6/1/2031  | 1670 | 1764 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2020, 2.45% 6/1/2041  | 240 | 218 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2024-1A, AMT, 4.125% 6/1/2045  | 636 | 620 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2025-1A, AMT, 4.75% 6/1/2046  | 140 | 137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher Educational Facs. Auth., Health System Rev. Bonds, Series 2016-AT-1, 5.00% 6/15/2030 (escrowed to <br> maturity)  | 595 | 596 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-123-A, AMT, 4.00% 4/1/2039  | 95 | 94 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2015-118-A, AMT, 3.50% 4/1/2040  | 55 | 55 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2016-119, 3.50% 10/1/2041  | 20 | 20 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-122, 4.00% 10/1/2046  | 655 | 655 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2020-133, 3.00% 10/1/2050  | 1775 | 1752 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2020-132-A, 3.50% 4/1/2051  | 130 | 130 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-135-A, 3.00% 10/1/2051  | 445 | 441 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2022-138-A, 3.00% 10/1/2052  | 1155 | 1121 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2022-140-A, 5.00% 10/1/2052  | 405 | 421 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2023-141-A, 5.75% 10/1/2053  | 4945 | 5256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Special Limited Obligation Multi Family Housing Dev. Bonds (Fairhill Phase I), Series 2025, <br> 3.15% 1/1/2046 (put 7/1/2029)  | 2000 | 2005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Agcy., Special Limited Obligation Multi Family Housing Dev. Bonds (Fairhill Phase II), Series 2025, <br> 3.15% 1/1/2046 (put 7/1/2029)  | 3335 | 3343 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 24 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Pennsylvania (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Philadelphia, Industrial Dev. Auth., Hospital Rev. Bonds (The Children's Hospital of Philadelphia Project), <br> Series 2017, 5.00% 7/1/2034  | USD1,515 | $1549 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2022-C, 5.00% 6/1/2030  | 800 | 868 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2022-C, 5.00% 6/1/2031  | 780 | 860 |
| Philadelphia School Dist., GO Bonds, Series 2021-A, 5.00% 9/1/2028  | 1265 | 1329 |
| Philadelphia School Dist., GO Green Bonds, Series 2021-B, 5.00% 9/1/2026  | 1000 | 1007 |
| Philadelphia School Dist., GO Green Bonds, Series 2021-B, 5.00% 9/1/2027  | 600 | 617 |
| Philadelphia School Dist., GO Green Bonds, Series 2021-B, 5.00% 9/1/2028  | 365 | 383 |
| Philadelphia School Dist., GO Green Bonds, Series 2021-B, 5.00% 9/1/2029  | 1080 | 1152 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2026  | 400 | 405 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2027  | 1000 | 1035 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2025-A, 5.00% 12/1/2028  | 1100 | 1168 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2025-A, 5.00% 12/1/2029  | 1210 | 1309 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2025-B, 5.00% 12/1/2031  | 1250 | 1390 |
| Turnpike Commission, Turnpike Rev. Ref. Bonds, Series 2017-A-2, 5.00% 12/1/2027  | 515 | 534 |
| Turnpike Commission, Turnpike Rev. Ref. Bonds, Series 2024-1, 5.00% 12/1/2028  | 510 | 542 |
| Turnpike Commission, Turnpike Rev. Ref. Bonds, Series 2025-2, 5.00% 12/1/2045 (put 12/1/2032)  | 1220 | 1366 |
|  |  | 69132 |
| **Puerto Rico 0.05%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. <br> Bonds (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 7/1/2028  | 1140 | 1176 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, CAB, Series 2018-A-1, 0% 7/1/2031  | 45 | 38 |
|  |  | 1214 |
| **Rhode Island 0.42%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Educational Building Corp., Higher Education Facs. Rev. Bonds (Brown University Issue), Series <br> 2019-A, 5.00% 9/1/2029  | 1085 | 1168 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 69-B, 4.00% 10/1/2048  | 190 | 191 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 75-A, 3.00% 10/1/2051  | 2505 | 2478 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 81-A, 6.25% 10/1/2053  | 1205 | 1305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing and Mortgage Fin. Corp., Multi Family Dev. Green Bonds, Series 2024-1-A, FHA, 3.60% 10/1/2054 (put <br> 10/1/2027)  | 1750 | 1750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rhode Island Infrastructure Bank, State Revolving Fund Rev. Bonds (Master Trust), Series 2026-B, 5.00% 10/1/<br> 2028  | 560 | 593 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2022-A, AMT, 4.125% 12/1/2041  | 1695 | 1648 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2023-A, AMT, 4.125% 12/1/2042  | 355 | 342 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2024-A, AMT, 4.125% 12/1/2043  | 235 | 226 |
|  |  | 9701 |
| **South Carolina 0.53%** |  |  |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2017-B, FHA, 4.00% 7/1/2047  | 15 | 15 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2018-A, 4.50% 7/1/2048  | 240 | 241 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2020-A, 4.00% 7/1/2050  | 730 | 736 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2021-A, 3.00% 1/1/2052  | 400 | 395 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2020-B, 3.25% 1/1/2052  | 795 | 791 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2022-A, 4.00% 1/1/2052  | 585 | 592 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2022-B, 5.00% 1/1/2052  | 2580 | 2689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (573 Meeting Street Project), Series 2024, 3.00% <br> 4/1/2043 (put 4/1/2027)  | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (Poplar Square Apartments Project), Series 2025, <br> 5.00% 4/1/2028 (put 4/1/2027)  | 1125 | 1145 |
| Patriots Energy Group Fncg. Agcy., Gas Supply Rev. Bonds, Series 2023-B-1, 5.25% 2/1/2054 (put 3/1/2031)  | 230 | 247 |
| Public Service Auth., Rev. Ref. Obligations, Series 2016-A, 5.00% 12/1/2031  | 1360 | 1362 |
| Public Service Auth., Rev. Ref. Obligations, Series 2016-A, 5.00% 12/1/2031  | 655 | 656 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 25 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **South Carolina (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Public Service Auth., Rev. Ref. Obligations, Series 2016-A, 5.00% 12/1/2033  | USD710 | $711 |
| Public Service Auth., Rev. Ref. Obligations, Series 2016-A, 5.00% 12/1/2033  | 340 | 341 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2025-B, 5.00% 12/1/2028  | 1210 | 1280 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 5.00% 12/1/2029  | 85 | 92 |
|  |  | 12293 |
| **South Dakota 0.56%** |  |  |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2016-D, 3.50% 11/1/2046  | 85 | 85 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2018-A, 4.00% 11/1/2048  | 110 | 110 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2018-B, 4.50% 11/1/2048  | 760 | 765 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2021-B, 3.00% 11/1/2051  | 1395 | 1377 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2022-C, 5.00% 5/1/2053  | 1510 | 1559 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2023-G, 6.25% 5/1/2055  | 1165 | 1255 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2024-A, 6.25% 5/1/2055  | 5150 | 5579 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2024-C, 6.25% 11/1/2055  | 1990 | 2214 |
|  |  | 12944 |
| **Tennessee 1.74%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Educational Facs. Auth., Collateralized Multi Family Rev. Bonds (BTT Dev. IV and Housing Associates <br> Rural Dev. Program), Series 2024, 3.00% 4/1/2028 (put 4/1/2027)  | 6495 | 6491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Educational Facs. Board of the Metropolitan Government of Nashville and Davidson County, Multi <br> Family Rev. Bonds (Trinity Flats Apartments), Series 2024-B, 3.65% 10/1/2046 (put 7/1/2028)  | 1040 | 1049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Educational Facs. Board of the Metropolitan Government of Nashville and Davidson County, Rev. <br> Bonds (Vanderbilt University Medical Center), Series 2026-B, 5.00% 7/1/2032  | 5525 | 6112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Educational Facs. Board, Rev. Bonds (Ascension Senior Credit Group), Series 2025-B-1, 5.00% <br> 11/15/2048 (put 2/1/2028)  | 3540 | 3828 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-2-B, 4.00% 1/1/2042  | 640 | 642 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-1, 4.00% 7/1/2042  | 415 | 416 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-2-A, 4.00% 7/1/2045  | 105 | 105 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, 4.00% 1/1/2046  | 135 | 135 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2016-1-B, 3.50% 1/1/2047  | 105 | 105 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2022-2, 5.00% 1/1/2053  | 435 | 449 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2025-1A, 6.00% 1/1/2056  | 2185 | 2394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Knoxville Community Dev. Corp., Multi Family Housing Bonds (The Peter Apartments), Series 2025, 3.15% <br> 5/1/2046 (put 5/1/2029)  | 4000 | 4010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Knoxville Community Dev. Corp., Multi Family Housing Rev. Bonds (525 Flats), Series 2024, 2.70% 12/1/2064 (put <br> 6/1/2029)  | 720 | 711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Memphis, Health, Educational and Housing Fac. Board, Multi Family Housing Bonds (Surrey Apartments <br> Project), Series 2026, 2.75% 4/1/2029 (put 4/1/2028)  | 2175 | 2163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Government of Nashville and Davidson County, Industrial Dev. Board, Housing Rev. Bonds (Trinity <br> Lane Apartments Project), Series 2025, 3.15% 7/1/2044 (put 7/1/2029)  | 1150 | 1153 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2026  | 560 | 562 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2028  | 1275 | 1331 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2029  | 1915 | 2032 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2026-B, AMT, 5.00% 7/1/2029  | 775 | 822 |
| Metropolitan Nashville Airport Auth., Subordinate Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2031  | 1500 | 1602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Williamson Industrial Dev. Board, Multi Family Housing Rev. Bonds (Wood Duck Court Apartments), <br> Series 2023, 5.00% 5/1/2042 (put 5/1/2027)  | 4070 | 4109 |
|  |  | 40221 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 26 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Texas 12.34%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affordable Housing Corp., Multi Family Housing Rev. Bonds (Juniper Creek Apartments Project), Series 2023, <br> 3.75% 7/1/2044 (put 7/1/2026)  | USD2,085 | $2087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affordable Housing Corp., Multi Family Housing Rev. Bonds (Norman Commons), Series 2023, 3.625% 1/1/2045 <br> (put 1/1/2027)  | 1150 | 1154 |
| Allen Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025-A, 5.00% 2/15/2027  | 2065 | 2104 |
| Alvin Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2026, 5.00% 2/15/2028  | 2000 | 2088 |
| Alvin Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2026, 5.00% 2/15/2029  | 2775 | 2958 |
| Alvin Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds, Series 2024, 5.00% 2/15/2029  | 750 | 800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2021-A, <br> 4.00% 8/15/2026  | 110 | 110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington Higher Education Fin. Corp., Education Rev. Bonds (Harmony Public Schools), Series 2024, 5.00% 2/15/<br> 2034  | 1300 | 1417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington Higher Education Fin. Corp., Education Rev. Bonds (Trinity Basin Preparatory, Inc.), Series 2023, 5.00% <br> 8/15/2026  | 500 | 503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington Higher Education Fin. Corp., Education Rev. Bonds (Trinity Basin Preparatory, Inc.), Series 2023, 5.00% <br> 8/15/2027  | 560 | 575 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 12/1/2026  | 440 | 443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Austin Affordable PFC, Inc., Multi Family Housing Rev. Bonds (Eagle's Landing Family Apartments), Series 2024-B, <br> 5.00% 9/1/2028 (put 9/1/2027)  | 330 | 339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Austin Affordable PFC, Inc., Multi Family Housing Rev. Bonds (Village at Cottonwood Apartments), Series 2024-B, <br> 5.00% 9/1/2028 (put 9/1/2027)  | 235 | 241 |
| City of Austin, Airport System Rev. Bonds, Series 2022, AMT, 5.00% 11/15/2026  | 2820 | 2849 |
| City of Austin, Airport System Rev. Bonds, Series 2022, AMT, 5.00% 11/15/2027  | 2000 | 2060 |
| City of Austin, Airport System Rev. Ref. Bonds, Series 2025, AMT, 5.00% 11/15/2027  | 1425 | 1468 |
| City of Austin, Airport System Rev. Ref. Bonds, Series 2025, AMT, 5.00% 11/15/2028  | 385 | 404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bexar Management and Dev. Corp., Multi Family Housing Rev. Bonds (Miller's Pond Apartments), Series 2026, <br> FHA, 2.65% 3/1/2029 (put 3/1/2028)  | 455 | 451 |
| County of Bexar, Limited Tax Rev. Ref. Bonds, Series 2017, 5.00% 6/15/2043 (preref. 6/15/2026)  | 8000 | 8022 |
| Boerne Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/1/2027  | 1200 | 1220 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 5.00% 4/1/2027  | 750 | 759 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 5.00% 4/1/2028  | 1400 | 1436 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2024-1-A, AMT, 5.00% 4/1/2030  | 1800 | 1885 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 4.50% 4/1/2046  | 2145 | 2150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Area Housing Fin. Corp., Multi Family Housing Rev. Bonds (Redwood Apartments), Series 2020, 3.20% <br> 1/1/2041 (put 1/1/2027)  | 545 | 545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carrollton-Farmers Branch Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% <br> 2/15/2027  | 7000 | 7132 |
| Central Texas Regional Mobility Auth., Rev. Bond Anticipation Notes, Series 2021-C, 5.00% 1/1/2027  | 1500 | 1501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clifton Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Idea Public Schools), Series 2025, 5.00% <br> 8/15/2027  | 1650 | 1695 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2026  | 410 | 412 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2027  | 200 | 205 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2028  | 40 | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clifton Higher Education Fin. Corp., Education Rev. Ref. Bonds (Idea Public Schools), Series 2024, 5.00% 8/15/<br> 2026  | 600 | 603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clifton Higher Education Fin. Corp., Education Rev. Ref. Bonds (International Leadership of Texas, Inc.), Series <br> 2024-A, 5.00% 8/15/2027  | 1400 | 1438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clifton Higher Education Fin. Corp., Education Rev. Ref. Bonds (International Leadership of Texas, Inc.), Series <br> 2024-A, 5.00% 8/15/2029  | 1325 | 1409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clifton Higher Education Fin. Corp., Education Rev. Ref. Bonds (International Leadership of Texas, Inc.), Series <br> 2024-A, 5.00% 8/15/2030  | 2270 | 2447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clifton Higher Education Fin. Corp., Education Rev. Ref. Bonds (International Leadership of Texas, Inc.), Series <br> 2025-B, 4.00% 2/15/2055 (put 2/15/2030)  | 750 | 777 |
| Comal Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025, 5.00% 2/1/2027  | 3725 | 3793 |
| Conroe Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025, 5.00% 2/15/2027  | 1080 | 1101 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 27 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Texas (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Corpus Christi Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025, 5.00% 8/15/2029  | USD1,000 | $1074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Palladium Buckner Station), Series 2025, <br> 3.05% 8/1/2030 (put 8/1/2028)  | 2900 | 2901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (The Mondello), Series 2024, FHA, 5.00% <br> 8/1/2027 (put 8/1/2026)  | 480 | 482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dallas Independent School Dist., Unlimited Tax School Building Bonds, Series 2026-B, 5.00% 2/15/2056 (put 2/<br> 15/2030)  | 6225 | 6684 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 5.00% 8/15/2026  | 335 | 337 |
| Del Valle Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 6/15/2026  | 1000 | 1003 |
| Denton Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025-C, 5.00% 8/15/2027  | 2275 | 2340 |
| Denton Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 8/15/2027  | 1650 | 1697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; El Paso Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 4.00% 8/15/2048 (preref. <br>8/15/2029)  | 680 | 709 |
| Forney Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2025, 5.00% 8/15/2029  | 2500 | 2691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fort Bend Grand Parkway Toll Road Auth., Limited Contract Tax and Toll Road Rev. Ref. Bonds, Series 2021-A, <br> 5.00% 3/1/2027  | 330 | 336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fort Bend Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2021-B, 0.72% 8/1/2051 (put 8/1/<br> 2026)  | 3090 | 3066 |
| Fort Worth Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2027  | 1000 | 1019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frisco Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, CAB, Series 1999, 0% 8/15/<br> 2027  | 1000 | 963 |
| City of Georgetown, Utility System Rev. Bonds, Series 2022, AGI, 5.00% 8/15/2026  | 1000 | 1006 |
| Georgetown Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 5.00% 2/15/2027  | 500 | 509 |
| Georgetown Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 5.00% 2/15/2028  | 500 | 522 |
| GO Water Financial Assistance Rev. Ref. Bonds, Series 2021-B, 4.00% 8/1/2030  | 560 | 560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goose Creek Consolidated Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2026-A, 5.00% 2/15/<br> 2028  | 575 | 600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goose Creek Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% <br> 2/15/2027  | 1125 | 1146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goose Creek Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2014-B, <br> 0.60% 2/15/2035 (put 8/17/2026)  | 810 | 804 |
| Gregory-Portland Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2033  | 1850 | 2084 |
| County of Harris, Port of Houston Auth., Rev. Bonds, Series 2023, 5.00% 10/1/2026  | 775 | 783 |
| County of Harris, Port of Houston Auth., Rev. Bonds, Series 2023, 5.00% 10/1/2027  | 900 | 931 |
| County of Harris, Sports Auth., Rev. Ref. Bonds, Series 2024-A, AGI, 5.00% 11/15/2030  | 1320 | 1437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harris County Cultural Education Facs. Fin. Corp., Rev. Ref. Bonds (Houston Methodist), Series 2026-A, 5.00% 12/<br> 1/2029  | 8235 | 8857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harris County Housing Fin. Corp., Multi Family Housing Rev. Notes (Baypointe Apartments), Series 2025, 2.95% <br> 9/1/2043 (put 9/1/2028)  | 1455 | 1451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HHA Fountainview PFC, Multi Family Housing Rev. Notes (Idlewilde Apartments), Series 2026, 2.75% 4/1/2043 <br> (put 10/1/2028)  | 2125 | 2116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (Palladium Old FM 471 W), Series <br> 2024, 3.05% 9/1/2029 (put 9/1/2027)  | 2625 | 2626 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2021-A, 3.00% 1/1/2052  | 1635 | 1608 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2022-B, 5.75% 1/1/2053  | 3075 | 3317 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2023-A, 5.50% 7/1/2053  | 2935 | 3140 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Ref. Bonds, Series 2025-D, 6.25% 1/1/2056  | 2500 | 2801 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2019-A, 4.00% 3/1/2050  | 1460 | 1474 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2020-A, 3.50% 3/1/2051  | 460 | 458 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 3/1/2052  | 5040 | 4947 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2022-B, 6.00% 3/1/2053  | 1675 | 1827 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2023-C, 6.00% 3/1/2054  | 825 | 904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Options, Inc., Multi Family Housing Rev. Bonds (Royal Crest Apartments), Series 2025, 3.05% 2/1/2045 <br> (put 2/1/2028)  | 905 | 906 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 7/1/2027  | 1000 | 1023 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 28 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Texas (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| City of Houston, Airport System Rev. Ref. Bonds, Series 2023-B, AGI, AMT, 5.00% 7/1/2028  | USD2,625 | $2740 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2024-A, 5.00% 11/15/2026  | 290 | 294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Houston, Memorial City Redev. Auth., Tax Increment Contract Rev. and Rev. Ref. Bonds, Series 2019, AGI, <br> 5.00% 9/1/2026  | 320 | 322 |
| Houston Independent School Dist., Maintenance Tax Notes, Series 2025-A, 5.00% 7/15/2045 (put 7/15/2028)  | 6935 | 7243 |
| Irving Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2027  | 1345 | 1371 |
| Irving Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2029  | 760 | 810 |
| Joshua Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 5.00% 8/15/2029  | 500 | 537 |
| Katy Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2028  | 2000 | 2089 |
| Klein Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2016-A, 3.00% 8/1/2028  | 1500 | 1500 |
| Krum Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 8/15/2034  | 1000 | 1141 |
| Lamar Consolidated Independent School Dist., Unlimited Tax Schoolhouse Bonds, Series 2021, 5.00% 2/15/2029  | 345 | 367 |
| Leander Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2027  | 4250 | 4329 |
| Leander Independent School Dist., Unlimited Tax School Building Bonds, CAB, Series 2025-A, 0% 8/15/2026  | 800 | 793 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2023-A, 5.00% 5/15/2027  | 780 | 799 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2023-B, 5.00% 5/15/2039 (put 5/15/2028)  | 1600 | 1657 |
| City of Lubbock, Electric Light and Power System Rev. Ref. Bonds, Series 2023, 5.00% 4/15/2029  | 795 | 846 |
| City of Lubbock, Electric Light and Power System Rev. Ref. Bonds, Series 2023, AGI, 5.00% 4/15/2030  | 1000 | 1086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lubbock Housing Fin. Corp., Multi Family Housing Rev. Bonds (The Ella Apartments), Series 2026, 2.80% <br> 3/1/2029 (put 3/1/2028)  | 300 | 298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mabank Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2024, 5.00% 8/15/<br> 2029  | 760 | 817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medina Valley Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 2.85% 2/15/2049 <br> (put 2/1/2031)  | 290 | 290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mission Econ. Dev. Corp., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2024, AMT, <br> 4.00% 6/1/2054 (put 6/1/2034)  | 2000 | 2016 |
| Municipal Gas Acquisition and Supply Corp. I, Gas Supply Rev. Bonds, Series 2008-D, 6.25% 12/15/2026  | 2345 | 2393 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2026  | 1000 | 1012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Gas Acquisition and Supply Corp. IV, Gas Supply Rev. Bonds, Series 2023-A, 5.50% 1/1/2054 (put <br>1/1/2030)  | 7040 | 7448 |
| Municipal Gas Acquisition and Supply Corp. VI, Gas Supply Rev. Bonds, Series 2025, 5.00% 1/1/2032  | 1600 | 1702 |
| Nacogdoches Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2/15/2027  | 985 | 1003 |
| New Caney Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2027  | 1000 | 1018 |
| New Caney Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2028  | 525 | 547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope Higher Education Fin. Corp., Higher Education Rev. Bonds (Texas Christian University Project), Series <br> 2026-A, 5.00% 3/15/2028  | 500 | 522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope Higher Education Fin. Corp., Higher Education Rev. Bonds (Texas Christian University Project), Series <br> 2026-A, 5.00% 3/15/2029  | 375 | 399 |
| North East Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2024, 3.75% 8/1/2049 (put 8/1/2027)  | 950 | 958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2025-A, AMT, 5.00% 6/1/<br> 2032  | 225 | 237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2024-1-A, AMT, 4.125% <br>6/1/2045  | 505 | 492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2025-A, AMT, 4.50% 6/1/<br> 2046  | 1380 | 1383 |
| Northside Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 8/15/2029  | 1000 | 1077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pecos-Barstow-Toyah Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/<br> 2027  | 700 | 713 |
| City of San Antonio, Electric and Gas Systems Rev. Bonds, Series 2015-D, 1.125% 12/1/2045 (put 12/1/2026)  | 3515 | 3455 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2027  | 90 | 92 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2024-B, 5.00% 2/1/2028  | 550 | 572 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2024-B, 5.00% 2/1/2029  | 200 | 213 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2026-A, 2.90% 2/1/2055 (put 12/1/2027)  | 4110 | 4093 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2026-A, 3.00% 2/1/2055 (put 12/1/2029)  | 5770 | 5741 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2025-A, 3.08% 2/1/2055 (put 12/1/2028)  | 6325 | 6323 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 29 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Texas (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| City of San Antonio, Water System Rev. and Rev. Ref. Bonds, Series 2013-F, 1.00% 5/1/2043 (put 11/1/2026)  | USD1,000 | $989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; San Marcos Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% <br>8/15/2026  | 1740 | 1751 |
| Southwest Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/1/2027  | 860 | 875 |
| Spring Independent School Dist., Unlimited Tax School Building Bonds, Series 2024-A, 5.00% 8/15/2029  | 420 | 451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Tarrant, Housing Fin. Corp., Multi Family Housing Rev. Bonds (The Meridian Apartments), Series <br> 2024-B, 5.00% 9/1/2028 (put 9/1/2027)  | 450 | 462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Tarrant, Housing Fin. Corp., Multi Family Housing Rev. Notes (Wildwood Branch), Series 2025, 3.60% <br> 2/1/2043 (put 2/1/2028)  | 3125 | 3149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Baylor Scott & White Health Project), <br> Series 2026-E, 5.00% 11/15/2028  | 1085 | 1147 |
| Tarrant Regional Water Dist., Water Rev. Ref. and Improvement Bonds, Series 2026, 5.00% 3/1/2032  | 7650 | 8559 |
| Tarrant Regional Water Dist., Water Rev. Ref. and Improvement Bonds, Series 2026, 5.00% 3/1/2033  | 2000 | 2265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Board of Regents of the Texas Woman's University System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, <br> Series 2026, 5.00% 7/1/2029  | 1725 | 1844 |
| Greater Texoma Utility Auth., Contract Rev. Bonds (City of Sherman Project), Series 2024, BAM, 5.00% 10/1/2028  | 3360 | 3534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; THF Public Fac. Corp., Multi Family Housing Rev. Bonds (Covington Acres), Series 2025, 3.34% 2/1/2044 (put 2/1/<br> 2029)  | 2085 | 2099 |
| Tomball Business Improvement Dist. No. 1, Unlimited Tax Bonds, Series 2024, 6.50% 11/15/2028  | 265 | 285 |
| Tomball Business Improvement Dist. No. 1, Unlimited Tax Bonds, Series 2024, 6.00% 11/15/2029  | 280 | 304 |
| Tomball Business Improvement Dist. No. 1, Unlimited Tax Bonds, Series 2024, 6.50% 11/15/2030  | 290 | 327 |
| Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2027  | 1050 | 1070 |
| Transportation Commission, GO Mobility Fund and Rev. Ref. Bonds, Series 2024, 5.00% 10/1/2028  | 1360 | 1436 |
| Transportation Commission, GO Mobility Fund and Rev. Ref. Bonds, Series 2025, 5.00% 10/1/2029  | 1135 | 1224 |
| Transportation Commission, Highway Improvement GO Bonds, Series 2016-A, 5.00% 4/1/2031  | 2990 | 2995 |
| Turnpike Auth., Central Texas Turnpike System, Rev. Bonds, CAB, Series 2002-A, AMBAC, 0% 8/15/2027  | 3370 | 3243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Board of Regents of the University of Houston System, Consolidated Rev. and Rev. Ref. Bonds, Series 2026-A, <br> 5.00% 2/15/2031  | 5000 | 5509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Board of Regents of the University of Houston System, Consolidated Rev. and Rev. Ref. Bonds, Series 2026-A, <br> 5.00% 2/15/2032  | 15000 | 16764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, <br> Series 2025-A, 5.00% 4/15/2029  | 675 | 720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2016-B, 2.00% 7/1/<br> 2028  | 1250 | 1223 |
| Board of Regents of the University of Texas System, Rev. Fncg. System Bonds, Series 2019-B, 5.00% 8/15/2029  | 1050 | 1130 |
| Board of Regents of the University of Texas System, Rev. Fncg. System Bonds, Series 2017-C, 3.00% 8/15/2032  | 500 | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Victory Street Public Facs. Corp., Multi Family Housing Rev. Notes (Independence Heights II), Series 2025, 3.15% <br> 1/1/2047 (put 7/1/2029)  | 5660 | 5674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Dev. Board, State Water Implementation Rev. Fund, Reserve Bonds (Master Trust), Series 2024-A, 5.00% <br> 10/15/2033  | 1500 | 1712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Dev. Board, State Water Implementation Rev. Fund, Reserve Bonds (Master Trust), Series 2024-A, 5.00% <br> 10/15/2037  | 2480 | 2802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2023-A, 5.00% 10/15/<br> 2028  | 230 | 244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2018-B, 5.00% 10/15/<br> 2030  | 780 | 824 |
| Willis Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025, 5.00% 2/15/2027  | 3030 | 3087 |
|  |  | 284698 |
| **Utah 0.58%** |  |  |
| Board of Higher Education, General Rev. Bonds (University of Utah), Series 2023-B, 5.00% 8/1/2029  | 500 | 538 |
| GO Bonds, Series 2019, 5.00% 7/1/2026  | 1000 | 1004 |
| Housing Corp., Multi Family Housing Rev. Bonds (Liberty Corner), Series 2025, 3.00% 9/1/2045 (put 9/1/2029)  | 2435 | 2433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Corp., Multi Family Housing Rev. Bonds (The Cooperative 1881), Series 2026, 2.65% 3/1/2045 (put <br>3/1/2029)  | 385 | 380 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 30 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Utah (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Housing Corp., Single Family Mortgage Bonds, Series 2015-D-2, Class III, FHA, 4.00% 1/1/2045  | USD130 | $130 |
| Housing Corp., Single Family Mortgage Bonds, Series 2023-A, 6.00% 7/1/2053  | 195 | 209 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-A, 6.50% 1/1/2054  | 320 | 348 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-E, 6.00% 7/1/2054  | 470 | 517 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-A, AMT, 5.00% 7/1/2026  | 2250 | 2257 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2023-A, AMT, 5.00% 7/1/2027  | 830 | 849 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2018-A, AMT, 5.00% 7/1/2028  | 1000 | 1043 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2017-A, AMT, 5.00% 7/1/2029  | 800 | 818 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-A, AMT, 5.00% 7/1/2029  | 1500 | 1591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, <br> 5.00% 6/1/2026  | 400 | 400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, <br> 5.00% 6/1/2027  | 320 | 328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, <br> 5.00% 6/1/2029  | 130 | 139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, <br> 5.00% 6/1/2030  | 305 | 331 |
|  |  | 13315 |
| **Vermont 0.07%** |  |  |
| Housing Fin. Agcy., Multiple Purpose Bonds, Series 2014-A, AMT, 4.00% 11/1/2044  | 40 | 40 |
| Housing Fin. Agcy., Multiple Purpose Bonds, Series 2020-A, 3.75% 11/1/2050  | 150 | 150 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2024-A, AMT, 5.25% 6/15/2033  | 700 | 750 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2024-A, AMT, 5.25% 6/15/2034  | 700 | 748 |
|  |  | 1688 |
| **Virginia 2.16%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Amelia, Industrial Dev. Auth., Solid Waste Disposal Rev. and Rev. Ref. Bonds (Waste Management, Inc. <br> Project), Series 2002, AMT, 1.45% 4/1/2027  | 575 | 562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Arlington, Industrial Dev. Auth., Multi Family Housing Rev. Bonds (Barcroft-Charlie 2 and Barcroft-Bravo <br> 5), Series 2025, 3.10% 12/1/2055 (put 2/1/2027)  | 1130 | 1130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Arlington, Industrial Dev. Auth., Multi Family Housing Rev. Bonds (Goodwill Glebe Road Redev.), Series <br> 2025, 2.95% 9/1/2049 (put 9/1/2029)  | 2125 | 2115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth Transportation Board, Transportation Capital Projects Rev. Ref. Bonds, Series 2026, 5.00% 5/15/<br> 2033  | 3605 | 4107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Fairfax, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Dominion Square North Project), <br> Series 2023, 5.00% 1/1/2045 (put 1/1/2028)  | 1885 | 1927 |
| Hampton Roads Sanitation Dist., Wastewater Rev. Bonds, Series 2025-A, 5.00% 7/15/2026  | 6000 | 6029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hampton Roads, Transportation Accountability Commission, Bond Anticipation Notes (Hampton Roads <br> Transportation Fund), Series 2021-A, 5.00% 7/1/2026 (escrowed to maturity)  | 3400 | 3412 |
| Housing Dev. Auth., Mortgage Bonds, Series 2025-G, 3.125% 7/1/2056 (put 4/1/2027)  | 6465 | 6465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Town of Louisa, Industrial Dev. Auth., Pollution Control Rev. Ref. Bonds (Virginia Electric and Power Co. Project), <br> Series 2008-B, 3.125% 11/1/2035 (put 10/1/2030)  | 4400 | 4388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Lynchburg, Econ. Dev. Auth., Hospital Rev. and Rev. Ref. Bonds (Centra Health Obligated Group), Series <br> 2021, 4.00% 1/1/2027  | 850 | 856 |
| City of Norfolk, GO Capital Improvement Bonds, Series 2019, 5.00% 8/1/2044 (preref. 8/1/2028)  | 1000 | 1054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Norfolk, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Braywood Manor Apartments), <br> Series 2023, 5.00% 5/1/2043 (put 5/1/2026)  | 2280 | 2280 |
| Port Auth., Commonwealth Port Fund Rev. Bonds, Series 2020-B, AMT, 5.00% 7/1/2028  | 1615 | 1681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Prince William Industrial Dev. Auth., Prince William County Facs. Rev. Bonds (County Facs. Projects), <br> Series 2025-A, 5.00% 10/1/2027  | 2070 | 2141 |
| Rector and Visitors of the University, Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 4/1/2039  | 3000 | 3049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, <br> 3.00% 12/1/2026  | 235 | 234 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 31 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Virginia (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Business Fncg. Auth., Rev. Ref. Bonds (Elizabeth River Crossings Opco, LLC Project), Series 2022, AMT, <br> 4.00% 1/1/2029  | USD610 | $618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Business Fncg. Auth., Rev. Ref. Bonds (Elizabeth River Crossings Opco, LLC Project), Series 2022, AMT, <br> 4.00% 1/1/2031  | 800 | 813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Wise, Industrial Dev. Auth., Solid Waste and Sewage Disposal Rev. Bonds (Virginia Electric and Power <br> Co. Project), Series 2009-A, 3.125% 10/1/2040 (put 10/1/2030)  | 7000 | 6981 |
|  |  | 49842 |
| **Washington 1.21%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Central Puget Sound Regional Transit Auth., Sales Tax and Motor Vehicle Excise Tax Improvement and Rev. Ref. <br> Green Bonds, Series 2021-S-1, 5.00% 11/1/2028  | 65 | 69 |
| Energy Northwest, Electric Rev. Ref. Bonds (Columbia Generating Station), Series 2025-A, 5.00% 7/1/2030  | 1250 | 1367 |
| Energy Northwest, Electric Rev. Ref. Bonds (Project No. 1), Series 2025-A, 5.00% 7/1/2028  | 2000 | 2105 |
| Energy Northwest, Electric Rev. Ref. Bonds (Project No. 3), Series 2016-A, 5.00% 7/1/2026  | 1075 | 1079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Fin. Commission, Multi Family Housing Rev. Bonds (Camas Flats Apartments Project), Series 2024-B, <br> 5.00% 2/1/2028 (put 2/1/2027)  | 810 | 822 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2017-1-N, 4.00% 12/1/2047  | 15 | 15 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2018-1-N, 4.00% 12/1/2048  | 655 | 657 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2019-1-N, 4.00% 6/1/2049  | 175 | 176 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2020-1-N, 4.00% 12/1/2050  | 830 | 836 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2021-2-N, 3.00% 6/1/2051  | 475 | 466 |
| Housing Fin. Commission, Single Family Program Rev. Ref. Bonds, Series 2022-1-N, 5.00% 12/1/2052  | 560 | 584 |
| County of King, Limited Tax GO Bonds, Series 2024-A, 5.00% 7/1/2026  | 1720 | 1727 |
| County of King, Sewer Improvement and Rev. Ref. Bonds, Series 2016-B, 5.00% 7/1/2041 (preref. 7/1/2026)  | 2680 | 2690 |
| Northshore School Dist., Unlimited Tax GO Rev. Ref. Bonds, Series 2022, 5.00% 12/1/2029  | 400 | 432 |
| City of Seattle, Water System Improvement and Rev. Ref. Bonds, Series 2021, 5.00% 8/1/2027  | 595 | 613 |
| Port of Seattle, Rev. Ref. Bonds, Series 2024-B, AMT, 5.00% 7/1/2026  | 3000 | 3010 |
| Port of Seattle, Rev. Ref. Bonds, Series 2016, 5.00% 2/1/2028  | 1000 | 1001 |
| Port of Seattle, Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 8/1/2029  | 4750 | 5053 |
| City of Tacoma, Electric System Rev. and Rev. Ref. Bonds, Series 2013-A, 4.00% 1/1/2042  | 1810 | 1775 |
| Various Purpose GO Bonds, Series 2023-B, 5.00% 2/1/2037  | 1020 | 1134 |
| Various Purpose GO Bonds, Series 2024-A, 5.00% 8/1/2037  | 730 | 814 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025-R-B, 5.00% 7/1/2030  | 1335 | 1463 |
|  |  | 27888 |
| **West Virginia 0.10%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Ref. Bonds (Kentucky Power Co. - Mitchell Project), Series <br> 2014-A, AMT, 4.70% 4/1/2036 (put 6/17/2026)  | 1485 | 1488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing Dev. Fund, Multi Family Housing Rev. Bonds (Highlawn Place), Series 2026, 2.875% 11/1/2028 (put 2/1/<br> 2028)  | 755 | 753 |
|  |  | 2241 |
| **Wisconsin 1.51%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germantown School Dist., GO School Building and Improvement Bonds, Series 2017-A, 3.00% 4/1/2030 (preref. <br> 4/1/2027)  | 1395 | 1401 |
| GO Rev. Ref. Bonds, Series 2017-2, 5.00% 11/1/2027  | 1000 | 1025 |
| GO Rev. Ref. Bonds, Series 2017-3, 5.00% 11/1/2027  | 1050 | 1076 |
| GO Rev. Ref. Bonds, Series 2026-1, 5.00% 5/1/2028  | 3630 | 3807 |
| GO Rev. Ref. Bonds, Series 2026-1, 5.00% 5/1/2029  | 8000 | 8574 |
| GO Rev. Ref. Bonds, Series 2020-1, 5.00% 5/1/2030  | 1000 | 1093 |
| GO Rev. Ref. Bonds, Series 2025-3, 5.00% 5/1/2032  | 1500 | 1689 |
| GO Rev. Ref. Bonds, Series 2025-1, 5.00% 5/1/2033  | 155 | 176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Educational Facs. Auth., Rev. Bonds (Advocate Aurora Health Care Credit Group), Series 2018-B-2, <br> 5.00% 8/15/2054 (put 6/24/2026)  | 1510 | 1515 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 32 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Wisconsin (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Educational Facs. Auth., Rev. Bonds (Advocate Aurora Health Care Credit Group), Series 2018-C-3, <br> 5.00% 8/15/2054 (put 6/24/2026)  | USD4,845 | $4860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health and Educational Facs. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2016-A, 4.00% <br> 11/15/2046 (preref. 5/15/2026)  | 1205 | 1206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing and Econ Dev. Auth., Multi Family Housing Bonds (100 E. National Project), Series 2024-J, 5.00% <br> 8/1/2058 (put 8/1/2026)  | 505 | 507 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2017-C, 4.00% 3/1/2048  | 45 | 45 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2018-B, 4.00% 3/1/2048  | 140 | 140 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2019-C, 4.00% 3/1/2050  | 430 | 433 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2020-A, 3.50% 9/1/2050  | 1060 | 1058 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-A, 3.00% 3/1/2052  | 1130 | 1113 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-C, 3.00% 9/1/2052  | 445 | 439 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds (Social Bonds), Series 2024-C, 6.00% 3/1/2055  | 1530 | 1666 |
| Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2023-E, 3.875% 11/1/2054 (put 5/1/2027)  | 455 | 455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Fin. Auth., Rev. Ref. Bonds (Providence St. Joseph Health Obligated Group), Series 2021-C, 4.00% <br> 10/1/2041 (put 10/1/2030)  | 140 | 147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Fin. Auth., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2016-A-3, AMT, <br> 1.10% 7/1/2029 (put 6/1/2026)  | 2380 | 2375 |
|  |  | 34800 |
| **Wyoming 0.20%** |  |  |
| Community Dev. Auth., Housing Rev. Bonds, Series 2021-1, 3.00% 6/1/2050  | 2700 | 2656 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2021-3, 3.00% 6/1/2050  | 350 | 347 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2020-1, 4.00% 12/1/2050  | 465 | 469 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2023-1, 5.75% 6/1/2053  | 705 | 742 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2024-1, 6.00% 12/1/2054  | 315 | 341 |
|  |  | 4555 |
| **Total bonds, notes & other debt instruments** (cost: $2,095,801,000) |  | 2099540 |
| Short-term securities 8.03%<br> **Municipals 8.03%**<br>|  |  |
| Freddie Mac, Multi Family Mortgage Certs., Series 2019-M-055, 3.30% 12/15/2028 <sup>(b)(c)</sup>  | 1980 | 1980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Alaska, City of Valdez, Marine Terminal Rev. Ref. Bonds (Exxon Pipeline Co. Project), Series 1993-B, 3.45% <br> 12/1/2033 <sup>(b)</sup>  | 5700 | 5700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Alaska, City of Valdez, Marine Terminal Rev. Ref. Bonds (ExxonMobil Project), Series 2001, 3.45% <br> 12/1/2029 <sup>(b)</sup>  | 1400 | 1400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Arizona, City of Glendale, Industrial Dev. Auth., Rev. Bonds (Midwestern University), Series 2025, 5.00% <br> 5/15/2026  | 1160 | 1161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Arizona, Industrial Dev. Auth., Hospital Rev. Ref. Bonds (Phoenix Children's Hospital), Series 2019-A, <br> 3.35% 2/1/2048 <sup>(b)</sup>  | 4945 | 4945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Arizona, Industrial Dev. Auth., Hospital Rev. Ref. Bonds (Phoenix Children's Hospital), Series 2019-B, <br> 3.35% 2/1/2048 <sup>(b)</sup>  | 2425 | 2425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Arizona, City of Phoenix, Industrial Dev. Auth., Solid Waste Disposal Rev. Ref. Bonds (Republic Services, <br> Inc. Project), Series 2013, AMT, 2.95% 12/1/2035 (put 8/3/2026) <sup>(d)</sup>  | 7270 | 7270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of California, City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-D, <br> 5.00% 7/1/2026  | 1775 | 1782 |
| State of California, City of Los Angeles, Tax and Rev. Anticipation Notes, Series 2025, 5.00% 6/25/2026  | 10000 | 10035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of California, Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series <br> 2021-A, AMT, 2.95% 7/1/2041 (put 10/1/2026) <sup>(d)</sup>  | 8000 | 7994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of California, Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series <br> 2026-A, AMT, 2.80% 3/1/2056 (put 6/15/2026) <sup>(d)</sup>  | 1265 | 1264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of California, Pollution Control Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. <br> Project), Series 2001-A, AMT, 4.20% 7/1/2031 (put 7/2/2029) <sup>(d)</sup>  | 2000 | 2024 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 33 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Short-term securities (continued)<br> **Municipals (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of California, Pollution Control Fncg. Auth., Solid Waste Disposal Rev. Ref. Bonds (Republic Services, Inc. <br> Project), Series 2023, AMT, 2.875% 7/1/2043 (put 8/17/2026) <sup>(c)(d)</sup>  | USD1,545 | $1543 |
| State of Colorado, Educational Loan Program Tax and Rev. Anticipation Notes, Series 2025-B, 5.00% 6/30/2026  | 8850 | 8881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Florida, Fin. Auth., Econ. Dev. Rev. Ref. Bonds (Republic Services, Inc. Project), Series 2010-A, AMT, 2.90% <br> 5/1/2028 (put 6/1/2026) <sup>(d)</sup>  | 2390 | 2389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2010-A, 3.30% <br> 8/1/2044 <sup>(b)</sup>  | 2200 | 2200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2011-A, 3.30% <br> 8/1/2044 <sup>(b)</sup>  | 4000 | 4000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Illinois, Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2019, AMT, <br> 3.45% 11/1/2044 (put 11/2/2026) <sup>(d)</sup>  | 3125 | 3125 |
| State of Iowa, Fin. Auth., Rev. Bonds (UnityPoint Health), Series 2018-E, 3.25% 2/15/2041 <sup>(b)</sup>  | 2400 | 2400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Louisiana, Parish of East Baton Rouge, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series <br> 2010-A, 3.45% 8/1/2035 <sup>(b)</sup>  | 3000 | 3000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Maryland, Health and Higher Educational Facs. Auth., Rev. Bonds (John Hopkins Health System Issue), <br> Series 2025-C, 3.35% 5/15/2053 <sup>(b)</sup>  | 700 | 700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Maryland, County of Montgomery, Rev. Bonds (CHE Trinity Health Credit Group), Series 2013, 2.40% <br> 12/1/2041 (put 6/1/2026) <sup>(d)</sup>  | 8055 | 8055 |
| State of Massachusetts, Clean Water Trust, Revolving Fund Green Bonds, Series 2026-27, 5.00% 2/1/2027  | 2195 | 2235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Michigan, Fin. Auth., Hospital Rev. Bonds (CHE Trinity Health Credit Group), Series 2013-1, 2.40% <br> 12/1/2034 (put 6/1/2026) <sup>(d)</sup>  | 6445 | 6445 |
| State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2012-B, 3.25% 4/1/2042 <sup>(b)</sup>  | 3700 | 3700 |
| State of Minnesota, GO State Trunk Highway Rev. Ref. Bonds, Series 2025-E, 5.00% 8/1/2026  | 4235 | 4260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron USA, Inc. <br> Project), Series 2007-D, 3.45% 12/1/2030 <sup>(b)</sup>  | 3400 | 3400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron USA, Inc. <br> Project), Series 2009-D, 3.45% 12/1/2030 <sup>(b)</sup>  | 2100 | 2100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Mississippi, Business Fin. Corp., Port Fac. Rev. Ref. Bonds (Chevron USA, Inc. Project), Series 2023, 3.45% <br> 6/1/2043 <sup>(b)</sup>  | 800 | 800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of New Hampshire, Health and Education Facs. Auth., Rev. Bonds (Dartmouth College Issue), Series 2007-B, <br> 3.40% 6/1/2041 <sup>(b)</sup>  | 1945 | 1945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of New Mexico, Mortgage Fin. Auth., Multi Family Housing Rev. Bonds (Mountain View II & III Apartments <br> Project), Series 2023, 2.92% 2/1/2042 (put 9/1/2026) <sup>(d)</sup>  | 490 | 490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of New Mexico, Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2025-G-3, Class I, <br> 3.00% 9/1/2057 (put 12/1/2026) <sup>(d)</sup>  | 2655 | 2655 |
| State of New York, New York City GO Bonds, Fiscal 2021, Series 2021-2, 3.50% 4/1/2042 <sup>(b)</sup>  | 195 | 195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General <br> Resolution Rev. Bonds, Fiscal 2015, Series 2015-BB-1, 3.45% 6/15/2049 <sup>(b)</sup>  | 1115 | 1115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General <br> Resolution Rev. Bonds, Fiscal 2016, Series 2016-AA-1, 3.45% 6/15/2048 <sup>(b)</sup>  | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General <br> Resolution Rev. Bonds, Fiscal 2023, Series 2023-CC, 3.45% 6/15/2053 <sup>(b)</sup>  | 550 | 550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-E-3, 3.40% <br> 2/1/2045 <sup>(b)</sup>  | 1800 | 1800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2015, Series 2015-E-4, <br> 3.45% 2/1/2045 <sup>(b)</sup>  | 4055 | 4055 |
| State of New York, Triborough Bridge and Tunnel Auth., General Rev. Bonds, Series 2001-C, 3.45% 1/1/2032 <sup>(b)</sup>  | 1990 | 1990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of New York, Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds, Series 2005-B-3, 3.45% <br> 1/1/2035 <sup>(b)</sup>  | 4800 | 4800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Ohio, County of Cuyahoga, Metropolitan Housing Auth., Multi Family Housing Rev. Bonds (Wade Park <br> Apartments), Series 2022, 3.32% 12/1/2027 (put 6/1/2026) <sup>(d)</sup>  | 2770 | 2771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Ohio, County of Franklin, Rev. Bonds (CHE Trinity Health Credit Group), Series 2013-OH, 2.45% <br> 12/1/2046 (put 8/3/2026) <sup>(d)</sup>  | 2105 | 2105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Pennsylvania, Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), <br> Series 2019-A, AMT, 3.875% 8/1/2038 (put 8/3/2026) <sup>(d)</sup>  | 10000 | 10014 |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 34 of 38

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Short-term securities (continued)<br> **Municipals (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Pennsylvania, Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), <br> Series 2025-A, AMT, 2.875% 6/1/2049 (put 6/1/2026) <sup>(d)</sup>  | USD1,245 | $1244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Texas, Affordable Housing Corp., Multi Family Housing Rev. Bonds (La Vista De Lopez Apartments), <br> Series 2023, 2.80% 2/1/2027  | 245 | 245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Texas, Capital Area Housing Fin. Corp., Multi Family Housing Rev. Bonds (Redwood Apartments), Series <br> 2024, 3.20% 1/1/2041 (put 1/1/2027) <sup>(d)</sup>  | 1320 | 1320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Texas, Grapevine-Colleyville Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025, 5.00% <br> 8/15/2026  | 4615 | 4646 |
| State of Texas, City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2012-B, 3.10% 5/15/2034 <sup>(b)</sup>  | 10000 | 10000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Texas, Mesquite Independent School Dist., Unlimited Tax Building Rev. Ref. Bonds, Series 2025, 5.00% 8/<br> 15/2026  | 565 | 569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Texas, Mission Econ. Dev. Corp., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), <br> Series 2023-A, AMT, 4.25% 6/1/2048 (put 7/1/2027) <sup>(d)</sup>  | 11335 | 11434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Texas, Mission Econ. Dev. Corp., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), <br> Series 2025-A, AMT, 2.875% 6/1/2055 (put 6/1/2026) <sup>(d)</sup>  | 1100 | 1100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Texas, Mission Econ. Dev. Corp., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), <br> Series 2020-B, AMT, 2.875% 7/1/2040 (put 6/1/2026) <sup>(d)</sup>  | 1540 | 1539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Texas, San Antonio Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% <br> 8/15/2026  | 3845 | 3870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Texas, Spring Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2025, <br> 5.00% 8/15/2026  | 1165 | 1173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Virginia, Richmond Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Joyfield at German <br> School Road), Series 2025, 3.10% 12/1/2055 (put 12/1/2026) <sup>(d)</sup>  | 585 | 585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Wyoming, County of Lincoln, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series 2014, 3.45% <br> 10/1/2044 <sup>(b)</sup>  | 4700 | 4700 |
|  |  | 185123 |
| **Total short-term securities** (cost: $185,016,000) |  | 185123 |
| **Total investment securities 99.04%** (cost: $2,280,817,000) |  | 2284663 |
| **Other assets less liabilities 0.96%** |  | 22154 |
| **Net assets 100.00%** |  | $2306817 |

---

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 4/30/2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 597 | 7/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD123,654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(145)<br>|
| 5 Year U.S. Treasury Note Futures | Long | 262 | 7/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (179)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(324)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(b)</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date. 

<sup>(c)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $28,486,000, which represented 1.23% of the net assets of the fund. 

<sup>(d)</sup> For short-term securities, the mandatory put date is considered to be the maturity date.

American Funds Short-Term Tax-Exempt Bond Fund — Page 35 of 38

------

**unaudited**

Valuation disclosures

------

Capital Research and Management Company ("CRMC"), the fund's investment adviser, values the fund's investments at fair value as defined by accounting principles generally accepted in the United States of America. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. Security transactions are recorded by the fund as of the date the trades are executed with brokers.

**Methods and inputs** — The fund's investment adviser uses the following methods and inputs to establish the fair value of the fund's assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.

Fixed-income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the following inputs: benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads, interest rate volatilities, and other relationships observed in the markets among comparable securities; and proprietary pricing models such as yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data. For certain distressed securities, valuation may include cash flows or liquidation values using a net present value calculation based on inputs that include, but are not limited to, financial statements and debt contracts.

Exchange-traded futures are generally valued at the official settlement price on the exchange or market on which such instruments are traded, as of the close of business on the day the futures are being valued. The average month-end notional amount of futures contracts while held was $128,049,000.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund's investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by the fund's investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.

**Processes and structure** — The fund's board of trustees has designated the fund's investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the "Committee") to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser's valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser's global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. The fund's board and audit committee also regularly review reports that describe fair value determinations and methods.

American Funds Short-Term Tax-Exempt Bond Fund — Page 36 of 38

------

**unaudited**

**Classifications** — The fund's investment adviser classifies the fund's assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The fund's valuation levels as of April 30, 2026, were as follows (dollars in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Texas | $— | $284698 | $— | $284698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California |  | 243053 |  | 243053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York |  | 214811 |  | 214811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alabama |  | 94260 |  | 94260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois |  | 77521 |  | 77521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida |  | 77277 |  | 77277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ohio |  | 69382 |  | 69382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pennsylvania |  | 69132 |  | 69132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Georgia |  | 63228 |  | 63228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Carolina |  | 61576 |  | 61576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other |  | 844602 |  | 844602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities  |  | 185123 |  | 185123 |
| Total | $— | $2284663 | $— | $2284663 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Other investments\* | Other investments\* | Other investments\* | Other investments\* |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on futures contracts | $(324)<br>| $— | $— | $(324)<br>|
| Total  | $(324)<br>| $— | $— | $(324)<br>|

---

\*

Futures contracts are not included in the fund's investment portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| Agcy. = Agency |
| AGI = Assured Guaranty insured |
| AMBAC = American Municipal Bond Assurance Company insured |
| AMT = Alternative Minimum Tax |
| Assn. = Association |
| Auth. = Authority |
| BAM = Build America Mutual insured |
| CAB = Capital Appreciation Bonds |
| Certs. = Certificates |
| Dept. = Department |
| Dev. = Development |
| Dist. = District |
| Dists. = Districts |
| Econ. = Economic |

---

---

| |
|:---|
| Fac. = Facility |
| Facs. = Facilities |
| FHA = Federal Housing Administration insured |
| Fin. = Finance |
| Fncg. = Financing |
| GO = General Obligation |
| NATL = National Public Finance Guarantee Corp. insured |
| Preref. = Prerefunded |
| Redev. = Redevelopment |
| Ref. = Refunding |
| Rev. = Revenue |
| SIFMA = Securities Industry and Financial Markets Association |
| SOFR = Secured Overnight Financing Rate |
| USD = U.S. dollars |

---

American Funds Short-Term Tax-Exempt Bond Fund — Page 37 of 38

------

**unaudited**

**Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.**

**Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.**

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

Capital Client Group, Inc., member FINRA.© 2026 Capital Group. All rights reserved.

MFGEFP3-039-0626

American Funds Short-Term Tax-Exempt Bond Fund — Page 38 of 38

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** American Funds Short-Term Tax-Exempt Bond Fund

- **b. Investment Company Act file number:** 811-05750

- **c. CIK number of Registrant:** 0000845376

- **d. LEI of Registrant:** 160311U2LZZUCOQYQK91

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

  - **Street Address 1:** 333 South Hope Street

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90071-1406

  - **Telephone number:** 9499755000

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

- **a. Name of Series:** American Funds Short-Term Tax-Exempt Bond Fund

- **b. EDGAR series identifier (if any):** S000009233

- **c. LEI of Series:** 160311U2LZZUCOQYQK91

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $2315761528.53

**Total Liabilities:** $16938307.46

**Net Assets:** $2298823221.07

**Cash Not Reported:** $120163.57

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -12384.160000000000 | **1-Year:** -159284.440000000000 | **5-Year:** -315450.230000000000 | **10-Year:** -173495.860000000000 | **30-Year:** -47333.910000000000

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

- **3-Month:** -452.212737100000 | **1-Year:** -2325.900000000000 | **5-Year:** -2770.670000000000 | **10-Year:** -1155.530000000000 | **30-Year:** -199.474723800000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000025125 | 0.60%                | -0.96%               | 0.42%                |
| Class ID C000079135 | 0.59%                | -0.98%               | 0.41%                |
| Class ID C000079136 | 0.61%                | -0.95%               | 0.43%                |
| Class ID C000179995 | 0.61%                | -0.94%               | 0.44%                |
| Class ID C000186457 | 0.62%                | -0.95%               | 0.44%                |
| Class ID C000189424 | 0.61%                | -0.95%               | 0.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2168754.95              | $6859584.75                                |
| Month 2  | $695304.91               | $-27241708.58                              |
| Month 3  | $-241708.19              | $3107026.94                                |

**Designated Index Information**

- **Index Name:** Bloomberg Municipal Short 1-5 Years Index

- **Index Identifier:** I22080US

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CALIFORNIA ST MUNI FIN AUTH                                                      | SAN JOSE SOUTH 1ST STREET ASSOCIATES LP (MPT) 3.45% 12-01-29                                         | CUSIP: 130483GP9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1920000 | PA      | $1937310.72   | 0.08%             | 2029-12-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH                                                      | VIEW AT SAN BRUNO LP (MPT) 5.0% 06-01-56                                                             | CUSIP: 130483HC7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1772174.56   | 0.08%             | 2056-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO TRANSIT AUTHORITY SALES TAX RECEIPTS FUND                                | CHICAGO TRANSIT AUTHORITY SALES TAX RECEIPTS FUND 5.0% 12-01-29                                      | CUSIP: 16772PDX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1317951.78   | 0.06%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                                  | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.0% 01-01-56                                  | CUSIP: 13013JFW1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    815000 | PA      | $881132.36    | 0.04%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS COUNTY HOUSING AUTHORITY                                                | HACG RAD II LP HUD SECT 8 (MPT) 3.3% 11-01-28                                                        | CUSIP: 199123CM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $877801.75    | 0.04%             | 2028-11-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY                                      | LELAND STANFORD JUNIOR UNIVERSITY (MPT) 5.0% 03-01-55                                                | CUSIP: 130179XB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $639846.48    | 0.03%             | 2055-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACILITIES AUTHORITY                                             | COVENANT LIVING COMMUNITIES AND SERVICES OBLIGATED GROUP 5.0% 12-01-28                               | CUSIP: 19648FYZ1<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039386.00   | 0.05%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACILITIES AUTHORITY                                             | COVENANT LIVING COMMUNITIES AND SERVICES OBLIGATED GROUP 5.0% 12-01-26                               | CUSIP: 19648FYX6<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    740000 | PA      | $746422.46    | 0.03%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACILITIES AUTHORITY                                             | COVENANT LIVING COMMUNITIES AND SERVICES OBLIGATED GROUP 5.0% 12-01-27                               | CUSIP: 19648FYY4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    800000 | PA      | $819615.20    | 0.04%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA (STATE OF)                                                            | STATE OF CALIFORNIA 5.0% 03-01-33                                                                    | CUSIP: 13063ELW4<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1479147.80   | 0.06%             | 2033-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA (STATE OF)                                                            | STATE OF CALIFORNIA 5.0% 03-01-30                                                                    | CUSIP: 13063ELT1<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1361490.00   | 0.06%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA (STATE OF)                                                            | STATE OF CALIFORNIA 5.0% 03-01-28                                                                    | CUSIP: 13063ELF1<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1985000 | PA      | $2079906.82   | 0.09%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY GNMA/FNMA/FHLMC 6.5% 05-01-55                                 | CUSIP: 19648GB27<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   1655000 | PA      | $1866909.51   | 0.08%             | 2055-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COLORADO BRIDGE & TUNNEL ENTERPRISE                                              | COLORADO BRIDGE & TUNNEL ENTERPRISE AG 5.0% 12-01-31                                                 | CUSIP: 19633TAJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1112378.00   | 0.05%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TEX INDPT SCH DIST                                                | CORPUS CHRISTI INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-29                                     | CUSIP: 220148CZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074261.00   | 0.05%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY                     | CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY 5.25% 11-15-31                          | CUSIP: 207743YE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2673340.00   | 0.12%             | 2031-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY                     | CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY 5.25% 11-15-28                          | CUSIP: 207743YB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $514853.96    | 0.02%             | 2028-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | ILLINOIS HOUSING DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC 3.75% 04-01-50                                | CUSIP: 45201Y6B8<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1028450.15   | 0.04%             | 2050-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS (STATE OF)                                                              | STATE OF ILLINOIS 5.5% 05-01-26                                                                      | CUSIP: 4521526J5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500000.00   | 0.07%             | 2026-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK                                  | INDIANAPOLIS AIRPORT AUTHORITY 5.0% 01-01-28                                                         | CUSIP: 45528UTF8<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300924.90    | 0.01%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | OSF HEALTHCARE SYSTEM OBLIGATED GROUP (MPT) 5.0% 05-15-50                                            | CUSIP: 45204FEH4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1286066.55   | 0.06%             | 2050-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | UNIVERSITY OF CHICAGO MEDICAL CENTER OBLIGATED GROUP FRN 08-01-44                                    | CUSIP: 45203HAH5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4000000.00   | 0.17%             | 2044-08-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| ILLINOIS DEVELOPMENT FINANCE AUTHORITY                                           | WASTE MANAGEMENT INC (MPT) 3.45% 11-01-44                                                            | CUSIP: 451889AT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3125000 | PA      | $3125312.50   | 0.14%             | 2044-11-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY                                | INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC 3.0% 07-01-50                      | CUSIP: 45505TUJ8<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |    390000 | PA      | $384922.20    | 0.02%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | ILLINOIS HOUSING DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC 3.0% 10-01-51                                 | CUSIP: 45203MDC2<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   2485000 | PA      | $2452125.94   | 0.11%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | SHEFFIELD SENIORS LLC FHA 542(C) 0.8% 07-01-26                                                       | CUSIP: 45202BJB3<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    410000 | PA      | $407715.48    | 0.02%             | 2026-07-01      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY                                | INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC 3.0% 01-01-52                      | CUSIP: 45505TVC2<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1413208.80   | 0.06%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FINANCE AUTHORITY                                                     | INDIANA FINANCE AUTHORITY STATE REVOLVING FUND 5.0% 02-01-27                                         | CUSIP: 45506EDN0<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    330000 | PA      | $336085.86    | 0.01%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FINANCE AUTHORITY                                                     | INDIANA FINANCE AUTHORITY STATE REVOLVING FUND 5.0% 02-01-28                                         | CUSIP: 45506EDP5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    425000 | PA      | $443629.03    | 0.02%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACILITIES AUTHORITY                                                | ST LUKE'S HEALTH SYSTEM LTD OBLIGATED GROUP 5.0% 03-01-27                                            | CUSIP: 451295B40<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    200000 | PA      | $203679.80    | 0.01%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACILITIES AUTHORITY                                                | ST LUKE'S HEALTH SYSTEM LTD OBLIGATED GROUP 5.0% 03-01-29                                            | CUSIP: 451295B65<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    165000 | PA      | $175234.79    | 0.01%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACILITIES AUTHORITY                                                | ST LUKE'S HEALTH SYSTEM LTD OBLIGATED GROUP 5.0% 03-01-28                                            | CUSIP: 451295B57<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    260000 | PA      | $270382.84    | 0.01%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA FINANCE AUTHORITY                                                           | IOWA FINANCE AUTHORITY GNMA/FNMA/FHLMC 3.0% 01-01-52                                                 | CUSIP: 462467U74<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   2375000 | PA      | $2330171.88   | 0.10%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY                                | INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY GNMA COLL 4.0% 07-01-48                            | CUSIP: 45505TMF5<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1023102.84   | 0.04%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA MUN PWR AGY                                                              | INDIANA MUNICIPAL POWER AGENCY 5.0% 01-01-28                                                         | CUSIP: 454898XK8<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |    700000 | PA      | $726163.90    | 0.03%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY                                | INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC 5.0% 07-01-53                      | CUSIP: 45505TYE5<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |    320000 | PA      | $331002.88    | 0.01%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA SECONDARY MKT EDL LNS INC                                                | INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 5.0% 06-01-27                                       | CUSIP: 45505NAD6<br>LEI: 549300M19IK303TD4597 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1520718.00   | 0.07%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FINANCE AUTHORITY                                                     | REPUBLIC SERVICES INC (MPT) 2.9% 05-01-28                                                            | CUSIP: 45505RBN4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2390000 | PA      | $2389433.57   | 0.10%             | 2028-05-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | ASCENSION HEALTH CREDIT GROUP 4.0% 02-15-41                                                          | CUSIP: 45204FN43<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1918682.70   | 0.08%             | 2041-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISA VA INDL DEV AUTH                                                          | VIRGINIA ELECTRIC AND POWER CO (MPT) 3.125% 11-01-35                                                 | CUSIP: 546068AZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4388348.80   | 0.19%             | 2035-11-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN                                                      | MARYLAND COMMUNITY DEVELOPMENT ADMINISTRATION RESIDENTIAL REVENUE 3.75% 03-01-50                     | CUSIP: 57419TGV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $385175.18    | 0.02%             | 2050-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSPORTATION AUTHORITY                                            | METROPOLITAN TRANSPORTATION AUTHORITY (MPT) 5.0% 11-15-45                                            | CUSIP: 59261AG68<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069910.00   | 0.05%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTANA ST BRD HSG                                                               | MONTANA BOARD OF HOUSING 4.0% 12-01-50                                                               | CUSIP: 61212WKN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $448449.64    | 0.02%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY 3.5% 12-01-50                                           | CUSIP: 594654JK2<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1820000 | PA      | $1816745.84   | 0.08%             | 2050-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.5% 07-01-50                                       | CUSIP: 60416S6S4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    515000 | PA      | $513645.55    | 0.02%             | 2050-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MARYLAND STATE TRANSPORTATION AUTHORITY                                          | MARYLAND STATE TRANSPORTATION AUTHORITY 5.0% 07-01-26                                                | CUSIP: 574300LX5<br>LEI: 254900MKNK0MO0Z4X426 | Long             | DBT              | MUN               | US        |    320000 | PA      | $321253.76    | 0.01%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN                                                        | MISSOURI HOUSING DEVELOPMENT COMMISSION GNMA/FNMA/FHLMC 3.5% 11-01-50                                | CUSIP: 60637BZD5<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |    485000 | PA      | $483729.30    | 0.02%             | 2050-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MISSION ECONOMIC DEVELOPMENT CORP                                                | WASTE MANAGEMENT INC (MPT) 2.875% 07-01-40                                                           | CUSIP: 605155BS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1539316.24   | 0.07%             | 2040-07-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN                                                      | MARYLAND COMMUNITY DEVELOPMENT ADMINISTRATION 3.25% 09-01-50                                         | CUSIP: 57419TLT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2245000 | PA      | $2228555.38   | 0.10%             | 2050-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MONTANA ST BRD HSG                                                               | MONTANA BOARD OF HOUSING 3.0% 12-01-50                                                               | CUSIP: 61212WLT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $524536.23    | 0.02%             | 2050-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN                                                        | MISSOURI HOUSING DEVELOPMENT COMMISSION GNMA/FNMA/FHLMC 3.25% 05-01-51                               | CUSIP: 60637BB41<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |   2110000 | PA      | $2095101.29   | 0.09%             | 2051-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY 3.0% 01-01-51                                                       | CUSIP: 60416TCR7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2100286.25   | 0.09%             | 2051-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN                                                      | MARYLAND COMMUNITY DEVELOPMENT ADMINISTRATION 3.0% 09-01-51                                          | CUSIP: 57419TQH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2148741.23   | 0.09%             | 2051-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.0% 07-01-51                                       | CUSIP: 60416TEB0<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    370000 | PA      | $364566.18    | 0.02%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN                                                        | MISSOURI HOUSING DEVELOPMENT COMMISSION GNMA/FNMA/FHLMC 3.0% 05-01-52                                | CUSIP: 60637BF21<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |    655000 | PA      | $646125.41    | 0.03%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                               | BJC HEALTHCARE OBLIGATED GROUP (MPT) 4.0% 05-01-51                                                   | CUSIP: 60637ATQ5<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.04%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.0% 01-01-52                                       | CUSIP: 60416TFM5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   2880000 | PA      | $2835564.48   | 0.12%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA                                                   | MAIN STREET NATURAL GAS INC 5.5% 09-15-28                                                            | CUSIP: 56036YDK8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1572595.50   | 0.07%             | 2028-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE                      | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE 5.0% 10-01-26                            | CUSIP: 592647JV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1512753.00   | 0.07%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE                      | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE 5.0% 10-01-28                            | CUSIP: 592647JX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1572990.00   | 0.07%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 3.0% 01-01-52                                                    | CUSIP: 658909C53<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    430000 | PA      | $424093.09    | 0.02%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVESTMENT FINANCE AUTHORITY                                            | NEBRASKA INVESTMENT FINANCE AUTHORITY GNMA/FNMA/FHLMC 3.0% 09-01-50                                  | CUSIP: 63968MZD4<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |   3020000 | PA      | $2977134.12   | 0.13%             | 2050-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SONYMA HOMEOWNER MTG REV                                                         | STATE OF NEW YORK MORTGAGE AGENCY HOMEOWNER MORTGAGE REVENUE 3.0% 10-01-45                           | CUSIP: 64988YKK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2975000 | PA      | $2936958.68   | 0.13%             | 2045-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-27                | CUSIP: 64971XB64<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $802776.00    | 0.03%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEVELOPMENT CORP                                                | NEW YORK LIBERTY DEVELOPMENT CORP 0.95% 11-15-27                                                     | CUSIP: 649519DJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3645000 | PA      | $3468450.78   | 0.15%             | 2027-11-15      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 08-01-33                                                                    | CUSIP: 64966QXH8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |     15000 | PA      | $16444.11     | 0.00%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC COLL 3.0% 07-01-51                             | CUSIP: 658207M28<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   3715000 | PA      | $3671326.46   | 0.16%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 3.0% 07-01-52                                                    | CUSIP: 658909E77<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1446603.30   | 0.06%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SONYMA HOMEOWNER MTG REV                                                         | STATE OF NEW YORK MORTGAGE AGENCY HOMEOWNER MORTGAGE REVENUE SONYMA 3.25% 10-01-51                   | CUSIP: 64988YMZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $682903.35    | 0.03%             | 2051-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION                                     | NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION 2.05% 09-01-51                                          | CUSIP: 647110FU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $376900.51    | 0.02%             | 2051-09-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY                                                          | NEW YORK STATE HOUSING FINANCE AGENCY SONYMA HUD SECT 8 (MPT) 1.1% 11-01-61                          | CUSIP: 64987JRC7<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   3380000 | PA      | $3292380.26   | 0.14%             | 2061-11-01      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA                                                                       | CITY OF NORFOLK VA ST AID WITHHLDG 5.0% 08-01-44                                                     | CUSIP: 655867YK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054430.00   | 0.05%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SONYMA HOMEOWNER MTG REV                                                         | STATE OF NEW YORK MORTGAGE AGENCY HOMEOWNER MORTGAGE REVENUE SONYMA 3.5% 10-01-52                    | CUSIP: 64988YPH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $84904.72     | 0.00%             | 2052-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEVADA HOUSING DIVISION                                                          | NEVADA HOUSING DIVISION GNMA/FNMA/FHLMC 3.5% 04-01-51                                                | CUSIP: 641279RW6<br>LEI: 549300RE377OK3CTT852 | Long             | DBT              | MUN               | US        |    570000 | PA      | $569327.40    | 0.02%             | 2051-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 08-01-31                                                                    | CUSIP: 64966QZF0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    490000 | PA      | $541326.52    | 0.02%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 4.0% 01-01-53                                                    | CUSIP: 658909M37<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   3705000 | PA      | $3744517.53   | 0.16%             | 2053-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORPORATION                                  | JFK INTERNATIONAL AIR TERMINAL LLC 5.0% 12-01-28                                                     | CUSIP: 650116FC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5510000 | PA      | $5747839.15   | 0.25%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 4.0% 12-01-41                               | CUSIP: 646080WP2<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    345000 | PA      | $340991.79    | 0.01%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTG FIN AUTH                                                          | NEW MEXICO MORTGAGE FINANCE AUTHORITY GNMA/FNMA/FHLMC COLL 5.25% 03-01-53                            | CUSIP: 647201TX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2560000 | PA      | $2705205.76   | 0.12%             | 2053-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TWY AUTH                                                             | STATE OF NEW YORK PERSONAL INCOME TAX REVENUE 5.0% 03-15-27                                          | CUSIP: 650028YD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2041820.00   | 0.09%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY                                        | STATE OF NEW JERSEY 5.0% 06-15-31                                                                    | CUSIP: 64577BK86<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1716158.80   | 0.07%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 08-01-31                                                                    | CUSIP: 64966MRY7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1599580.32   | 0.07%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTG FIN AUTH                                                          | NEW MEXICO MORTGAGE FINANCE AUTHORITY GNMA/FNMA/FHLMC 3.75% 03-01-48                                 | CUSIP: 6472006Z2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $179499.96    | 0.01%             | 2048-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO                                                                    | STATE OF OHIO 5.0% 02-01-30                                                                          | CUSIP: 677523AT9<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    170000 | PA      | $184745.12    | 0.01%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST TPK COMMN                                                                | OHIO TURNPIKE & INFRASTRUCTURE COMMISSION 5.0% 02-15-28                                              | CUSIP: 67760HNQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521254.00    | 0.02%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO AIR QUALITY DEVELOPMENT AUTHORITY                                           | DUKE ENERGY CORP (MPT) 4.25% 11-01-39                                                                | CUSIP: 677525WV5<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   3220000 | PA      | $3247605.06   | 0.14%             | 2039-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA HSG FIN AGY                                                             | OKLAHOMA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC COLL 5.0% 03-01-52                                   | CUSIP: 67886MVL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2195000 | PA      | $2273117.86   | 0.10%             | 2052-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON (STATE OF)                                                                | STATE OF OREGON 5.0% 12-01-52                                                                        | CUSIP: 68609UBB0<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1260867.47   | 0.05%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELECTRIC & GAS                                                   | CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVENUE (MPT) 1.125% 12-01-45                          | CUSIP: 79625GDH3<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   3515000 | PA      | $3455121.98   | 0.15%             | 2045-12-01      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| SEATTLE WA WTR AND SWR                                                           | CITY OF SEATTLE WA WATER SYSTEM REVENUE 5.0% 08-01-27                                                | CUSIP: 812728WL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $612913.67    | 0.03%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY AL                                                    | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT (MPT) 4.0% 12-01-51                                | CUSIP: 84136FAV9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    450000 | PA      | $452543.40    | 0.02%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HSG DEV AUTH                                                        | SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY 3.0% 11-01-51                                             | CUSIP: 83756CL94<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1376994.74   | 0.06%             | 2051-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE CITY UT AIRPORT REVENUE                                        | CITY OF SALT LAKE CITY UT AIRPORT REVENUE 5.0% 07-01-26                                              | CUSIP: 795576JJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2257560.00   | 0.10%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE CITY UT AIRPORT REVENUE                                        | CITY OF SALT LAKE CITY UT AIRPORT REVENUE 5.0% 07-01-29                                              | CUSIP: 795576JM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1590795.00   | 0.07%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY NORTHWEST                                                                 | BONNEVILLE POWER ADMINISTRATION 5.0% 07-01-26                                                        | CUSIP: 29270CR23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1079048.45   | 0.05%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAST BATON ROUGE PARISH LA INC INDL DEV BRD                                      | EXXON MOBIL CORP FRN 08-01-35                                                                        | CUSIP: 270777AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 0.13%             | 2035-08-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| FHLMC MULTIFAMILY VRD CERTIFICATES                                               | FHLMC MULTIFAMILY VRD CERTIFICATES FRN 12-15-28                                                      | CUSIP: 31350ACW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $1980000.00   | 0.09%             | 2028-12-15      | Variable      | 3.30%                 | Yes           |                  2 | On Loan: No      |
| GEORGIA MUNICIPAL ELEC AUTH                                                      | MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA 5.0% 01-01-30                                                | CUSIP: 62620HKE1<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    300000 | PA      | $322895.10    | 0.01%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY 6.25% 06-01-55                                          | CUSIP: 594654ZT5<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1920000 | PA      | $2097513.60   | 0.09%             | 2055-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN                                                        | MISSOURI HOUSING DEVELOPMENT COMMISSION GNMA/FNMA/FHLMC 3.5% 05-01-41                                | CUSIP: 60637BMC1<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |    355000 | PA      | $354285.39    | 0.02%             | 2041-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MONTANA ST BRD HSG                                                               | AURORA APARTMENTS LP (MPT) 3.32% 07-01-46                                                            | CUSIP: 61212VAU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4355000 | PA      | $4373434.72   | 0.19%             | 2046-07-01      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSPITAL FINANCE AUTHORITY                                        | ASCENSION HEALTH CREDIT GROUP 4.0% 11-15-47                                                          | CUSIP: 59465HWM4<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   2045000 | PA      | $2057899.86   | 0.09%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY                                                     | MASSACHUSETTS HOUSING FINANCE AGENCY 3.5% 12-01-46                                                   | CUSIP: 57587ASJ8<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |     40000 | PA      | $39985.92     | 0.00%             | 2046-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN                                                        | MISSOURI HOUSING DEVELOPMENT COMMISSION GNMA/FNMA/FHLMC 6.0% 05-01-56                                | CUSIP: 60637GGS2<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |    625000 | PA      | $683013.75    | 0.03%             | 2056-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MADERA CALIF UNI SCH DIST                                                        | MADERA UNIFIED SCHOOL DISTRICT NATL 0.0% 08-01-28                                                    | CUSIP: 556452DZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1576070.16   | 0.07%             | 2028-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MECKLENBURG CNTY N C                                                             | COUNTY OF MECKLENBURG NC 5.0% 02-01-30                                                               | CUSIP: 58400CBQ9<br>LEI: 5493006G3IC5PBHB7A65 | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1755078.64   | 0.08%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROVIA CALIF UNI SCH DIST                                                      | MONROVIA UNIFIED SCHOOL DISTRICT AG 0.0% 08-01-29                                                    | CUSIP: 611594JR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1054885.80   | 0.05%             | 2029-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | NORTH PORT PRESERVATION LTD DIVIDEND HOUSING ASSOCIATION LLC FHA 223(F) (MPT) 5.0% 08-01-27          | CUSIP: 594650UR2<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   7070000 | PA      | $7104006.70   | 0.31%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | 4401 ROSA PARKS 4 LTD DIVIDEND HOUSING ASSOCIATION LP (MPT) 5.0% 02-01-28                            | CUSIP: 594650US0<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   5310000 | PA      | $5385656.88   | 0.23%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH (HYATT REGENCY MCCORMICK PL)                 | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND NATL 0.0% 06-15-31                          | CUSIP: 592247J68<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2529432.00   | 0.11%             | 2031-06-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY 6.25% 12-01-55                                          | CUSIP: 594654C94<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   6950000 | PA      | $7678005.55   | 0.33%             | 2055-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY UNION HIGH SCHOOL DISTRICT NO 210-PHOENIX                        | MARICOPA COUNTY UNION HIGH SCHOOL DISTRICT NO 210-PHOENIX 5.0% 07-01-28                              | CUSIP: 567505SM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2105896.00   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY UNION HIGH SCHOOL DISTRICT NO 210-PHOENIX                        | MARICOPA COUNTY UNION HIGH SCHOOL DISTRICT NO 210-PHOENIX 5.0% 07-01-29                              | CUSIP: 567505SN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3025000 | PA      | $3253644.63   | 0.14%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA MUNICIPAL BOND BANK AUTHORITY                                             | ALASKA MUNICIPAL BOND BANK AUTHORITY 5.0% 10-01-26                                                   | CUSIP: 01179R6Z1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302838.30    | 0.01%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOUNT DIABLO UNIFIED SCHOOL DISTRICT/CA                                          | MOUNT DIABLO UNIFIED SCHOOL DISTRICT 5.0% 08-01-29                                                   | CUSIP: 621196V35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1956880.80   | 0.09%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE FIN AUTH                                                                   | FINANCE AUTHORITY OF MAINE AG 5.0% 12-01-32                                                          | CUSIP: 56042TEJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1234796.94   | 0.05%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALACHUA COUNTY HEALTH FACILITIES AUTHORITY                                       | OAK HAMMOCK AT THE UNIVERSITY OF FLORIDA OBLIGATED GROUP 3.625% 10-01-30                             | CUSIP: 010684BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $520433.16    | 0.02%             | 2030-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CANYONS MET DIST NO 5 COLO                                                       | CANYONS METROPOLITAN DISTRICT NO 5 BAM 5.0% 12-01-31                                                 | CUSIP: 139071AL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $219421.00    | 0.01%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVERNMENT NASHVILLE & DAVIDSON COUNTY HEALTH & EDUCATIONAL FACS BD | ECG TRINITY FLATS LP (MPT) 3.65% 10-01-46                                                            | CUSIP: 592113CS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1048743.28   | 0.05%             | 2046-10-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| MONTANA ST BRD HSG                                                               | FRANKLIN SCHOOL HOUSING PARTNERS LP HUD SECT 8 (MPT) 3.625% 10-01-28                                 | CUSIP: 61212VAV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000264.00   | 0.04%             | 2028-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CANYONS MET DIST NO 5 COLO                                                       | CANYONS METROPOLITAN DISTRICT NO 5 BAM 5.0% 12-01-28                                                 | CUSIP: 139071AH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $210260.20    | 0.01%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CANYONS MET DIST NO 5 COLO                                                       | CANYONS METROPOLITAN DISTRICT NO 5 BAM 5.0% 12-01-32                                                 | CUSIP: 139071AM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $276999.75    | 0.01%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF PHILADELPHIA                                                  | SCHOOL DISTRICT OF PHILADELPHIA ST AID WITHHLDG 5.0% 09-01-29                                        | CUSIP: 717883ZA3<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1151912.88   | 0.05%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRIVATE COLLEGES & UNIVS AUTH GA                                                 | SAVANNAH COLLEGE OF ART & DESIGN INC 5.0% 04-01-28                                                   | CUSIP: 74265LY28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $417412.40    | 0.02%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDL MED & ENVIRONMENTAL CTL FACS FING AUTH              | HOSPITAL AUXILIO MUTUO OBLIGATED GROUP 5.0% 07-01-28                                                 | CUSIP: 74527EFJ2<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | PR        |   1140000 | PA      | $1175965.86   | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF PHILADELPHIA                                                  | SCHOOL DISTRICT OF PHILADELPHIA ST AID WITHHLDG 5.0% 09-01-26                                        | CUSIP: 717883YX4<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006577.00   | 0.04%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | FLORIDA HOUSING FINANCE CORP GNMA/FNMA/FHLMC 3.5% 07-01-51                                           | CUSIP: 34074MUL3<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    325000 | PA      | $324680.85    | 0.01%             | 2051-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FORT WORTH TEX INDPT SCH DIST                                                    | FORT WORTH INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                                         | CUSIP: 349461AG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019199.00   | 0.04%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | PENNSYLVANIA HOUSING FINANCE AGENCY 3.0% 10-01-52                                                    | CUSIP: 70879QRC9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1121082.27   | 0.05%             | 2052-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SEATTLE WASHINGTON PORT OF                                                       | PORT OF SEATTLE WA 5.0% 08-01-29                                                                     | CUSIP: 735389U30<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   4750000 | PA      | $5053221.00   | 0.22%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | FLORIDA HOUSING FINANCE CORP GNMA/FNMA/FHLMC 3.0% 07-01-51                                           | CUSIP: 34074MVP3<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    180000 | PA      | $178052.04    | 0.01%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND TEX INDPT SCH DIST                                                     | FORT BEND INDEPENDENT SCHOOL DISTRICT PSF-GTD (MPT) 0.72% 08-01-51                                   | CUSIP: 346843SZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3090000 | PA      | $3065894.91   | 0.13%             | 2051-08-01      | Fixed         | 0.72%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | FLORIDA HOUSING FINANCE CORP GNMA/FNMA/FHLMC 3.0% 07-01-52                                           | CUSIP: 34074MXW6<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   3395000 | PA      | $3351954.80   | 0.15%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND TX GRAND PKWY TOLL ROAD AUTH                                           | FORT BEND GRAND PARKWAY TOLL ROAD AUTHORITY CNTY GTD 5.0% 03-01-27                                   | CUSIP: 346832BU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $336373.62    | 0.01%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WASTEWTR                                                   | CITY OF PHILADELPHIA PA WATER & WASTEWATER REVENUE 5.0% 06-01-31                                     | CUSIP: 717893Y39<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $859754.22    | 0.04%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WASTEWTR                                                   | CITY OF PHILADELPHIA PA WATER & WASTEWATER REVENUE 5.0% 06-01-30                                     | CUSIP: 717893Y21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $867575.20    | 0.04%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | FLORIDA HOUSING FINANCE CORP GNMA/FNMA/FHLMC 3.5% 07-01-52                                           | CUSIP: 34074MZA2<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    585000 | PA      | $583363.76    | 0.03%             | 2052-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA (STATE OF)                                                               | STATE OF FLORIDA 5.0% 07-01-27                                                                       | CUSIP: 3411504Q0<br>LEI: 5493004G5XFOOUT0LQ57 | Long             | DBT              | MUN               | US        |    445000 | PA      | $457699.86    | 0.02%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEPT TRANSN                                                           | STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION 5.0% 07-01-26                                          | CUSIP: 34160KBK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003851.00   | 0.04%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST TPK AUTH                                                              | STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION TURNPIKE SYSTEM REVENUE 5.0% 07-01-26                  | CUSIP: 343137QT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1520705.49   | 0.07%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | FLORIDA HOUSING FINANCE CORP GNMA/FNMA/FHLMC COLL 5.75% 01-01-54                                     | CUSIP: 34074MP70<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    935000 | PA      | $1016376.79   | 0.04%             | 2054-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FRISCO INDEPENDENT SCHOOL DISTRICT                                               | FRISCO INDEPENDENT SCHOOL DISTRICT PSF-GTD 0.0% 08-15-27                                             | CUSIP: 358802QN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $962810.00    | 0.04%             | 2027-08-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA REDEV & HSG AUTH                                                 | APAH TYSONS NORTH FOUR LP (MPT) 5.0% 01-01-45                                                        | CUSIP: 303833LG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1885000 | PA      | $1926590.64   | 0.08%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | FLORIDA HOUSING FINANCE CORP GNMA/FNMA/FHLMC 6.25% 07-01-55                                          | CUSIP: 34074M3Q2<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    865000 | PA      | $957362.11    | 0.04%             | 2055-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FAYETTE COUNTY DEVELOPMENT AUTHORITY                                             | UNITED STATES SOCCER FEDERATION INC 5.0% 10-01-27                                                    | CUSIP: 31222PAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $685203.64    | 0.03%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE COUNTY DEVELOPMENT AUTHORITY                                             | UNITED STATES SOCCER FEDERATION INC 5.0% 10-01-26                                                    | CUSIP: 31222PAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $442770.68    | 0.02%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | FLORIDA HOUSING FINANCE CORP GNMA/FNMA/FHLMC 6.25% 01-01-55                                          | CUSIP: 34074M7G0<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    395000 | PA      | $431347.51    | 0.02%             | 2055-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FAIRFIELD COMMUNITY FACILITIES DISTRICT                                          | CITY OF FAIRFIELD CA COMMUNITY FACILITIES DISTRICT NO 2023-1 AREA NO 1 5.0% 09-01-32                 | CUSIP: 304194FJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $425974.40    | 0.02%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST MID-BAY BRIDGE AUTH                                                   | MID-BAY BRIDGE AUTHORITY AG 5.0% 10-01-30                                                            | CUSIP: 342814EG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5406500.00   | 0.24%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORNEY TEX INDPT SCH DIST                                                        | FORNEY INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-29                                             | CUSIP: 346425LS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2691382.50   | 0.12%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | BROWNSVILLE VILLAGE V LTD GNMA COLL (MPT) 3.35% 10-01-27                                             | CUSIP: 34074HHA3<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1237693.54   | 0.05%             | 2027-10-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | RESIDENCES AT MARINA VILLAGE LLC (MPT) 2.85% 10-01-43                                                | CUSIP: 34074HHM7<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   2980000 | PA      | $2969647.48   | 0.13%             | 2043-10-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| FOOTHILL EASTERN TRANSN CORRIDOR AGY CALIF                                       | FOOTHILL-EASTERN TRANSPORTATION CORRIDOR AGENCY 5.9% 01-15-27                                        | CUSIP: 345105HE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3067935.00   | 0.13%             | 2027-01-15      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| IOWA FINANCE AUTHORITY                                                           | IOWA FINANCE AUTHORITY GNMA/FNMA/FHLMC 3.5% 01-01-49                                                 | CUSIP: 462467YJ4<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    175000 | PA      | $174542.38    | 0.01%             | 2049-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FINANCE AUTHORITY                                                     | INDIANA FINANCE AUTHORITY STATE REVOLVING FUND 5.0% 02-01-30                                         | CUSIP: 45506D5P6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1475044.39   | 0.06%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY                                | INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY 3.75% 01-01-49                                     | CUSIP: 45505TQU8<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |    130000 | PA      | $130135.85    | 0.01%             | 2049-01-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | ILLINOIS HOUSING DEVELOPMENT AUTHORITY FNMA/GNMA/FHLMC COLL 5.75% 10-01-53                           | CUSIP: 45203MQD6<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   2085000 | PA      | $2229676.07   | 0.10%             | 2053-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| IRVING TEX INDPT SCH DIST                                                        | IRVING INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                                             | CUSIP: 463813K38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1370822.66   | 0.06%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IRVING TEX INDPT SCH DIST                                                        | IRVING INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-29                                             | CUSIP: 463813K53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $810032.32    | 0.04%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA STUDENT LOAN LIQUIDITY CORP                                                 | IOWA STUDENT LOAN LIQUIDITY CORP 5.0% 12-01-28                                                       | CUSIP: 462590NT3<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    435000 | PA      | $453557.10    | 0.02%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA STUDENT LOAN LIQUIDITY CORP                                                 | IOWA STUDENT LOAN LIQUIDITY CORP 5.0% 12-01-26                                                       | CUSIP: 462590NR7<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    600000 | PA      | $606388.80    | 0.03%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA STUDENT LOAN LIQUIDITY CORP                                                 | IOWA STUDENT LOAN LIQUIDITY CORP 5.0% 12-01-27                                                       | CUSIP: 462590NS5<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028884.00   | 0.04%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | ILLINOIS FINANCE AUTHORITY (MPT) 3.875% 05-01-40                                                     | CUSIP: 45203EAG4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1393136.56   | 0.06%             | 2040-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | WASTE MANAGEMENT INC (MPT) 4.6% 10-01-53                                                             | CUSIP: 45202HAL7<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   4685000 | PA      | $4695527.20   | 0.20%             | 2053-10-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK                                  | INDIANAPOLIS AIRPORT AUTHORITY 5.0% 01-01-28                                                         | CUSIP: 45528VAZ2<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   3110000 | PA      | $3213367.07   | 0.14%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK                                  | INDIANAPOLIS AIRPORT AUTHORITY 5.0% 01-01-29                                                         | CUSIP: 45528VBA6<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   2290000 | PA      | $2409121.22   | 0.10%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THE ILLINOIS STATE TOLL HIGHWAY AUTHORITY                                        | ILLINOIS STATE TOLL HIGHWAY AUTHORITY 5.0% 01-01-29                                                  | CUSIP: 452252QH5<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |    600000 | PA      | $636759.00    | 0.03%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | ILLINOIS HOUSING DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC 6.0% 10-01-54                                 | CUSIP: 45203MWL1<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    480000 | PA      | $519122.40    | 0.02%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HOUSING AND FINANCE ASSOCIATION                                            | IDAHO HOUSING & FINANCE ASSOCIATION GNMA/FNMA/FHLMC 6.0% 07-01-54                                    | CUSIP: 45129Y5K8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2553470.78   | 0.11%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | RAVINE REDEVELOPMENT LLC FHA 542 (C) (MPT) 3.6% 08-01-32                                             | CUSIP: 45202BSG2<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1184727.83   | 0.05%             | 2032-08-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| IOWA STUDENT LOAN LIQUIDITY CORP                                                 | IOWA STUDENT LOAN LIQUIDITY CORP 5.0% 12-01-28                                                       | CUSIP: 462590PC8<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    585000 | PA      | $609956.10    | 0.03%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | WALDEN OAKS PRESERVATION LLC HUD SECT 8 FHA 221(D)(4) (MPT) 5.0% 10-01-27                            | CUSIP: 45203LET6<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1461240.40   | 0.06%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | STATE OF ILLINOIS WATER REVOLVING FUND - CLEAN WATER PROGRAM 5.0% 01-01-30                           | CUSIP: 45204FD85<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1311134.22   | 0.06%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INGLEWOOD CALIF UNI SCH DIST                                                     | INGLEWOOD UNIFIED SCHOOL DISTRICT 5.0% 08-01-31                                                      | CUSIP: 457110NV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $783836.20    | 0.03%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INGLEWOOD CALIF UNI SCH DIST                                                     | INGLEWOOD UNIFIED SCHOOL DISTRICT 5.0% 08-01-30                                                      | CUSIP: 457110NU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $192695.48    | 0.01%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | ISLAND TERRACE 4% PRESERVATION ASSOCIATES LP (MPT) 2.8% 08-01-28                                     | CUSIP: 45203LEK5<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    345000 | PA      | $343142.87    | 0.01%             | 2028-08-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY 3.5% 06-01-47                                           | CUSIP: 5946537N1<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |     90000 | PA      | $89968.32     | 0.00%             | 2047-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MARYLAND (STATE OF)                                                              | STATE OF MARYLAND 5.0% 08-01-29                                                                      | CUSIP: 574193XQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $700498.50    | 0.03%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND (STATE OF)                                                              | STATE OF MARYLAND 5.0% 06-01-29                                                                      | CUSIP: 574193WY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $349086.08    | 0.02%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEATTLE WASHINGTON PORT OF                                                       | PORT OF SEATTLE WA 5.0% 07-01-26                                                                     | CUSIP: 735389Z76<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3009624.00   | 0.13%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | PA SFM PAC (75-500%) PSA 16-119 SF 3.5% 10-01-41                                                     | CUSIP: 7087962J5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |     20000 | PA      | $19968.52     | 0.00%             | 2041-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMISSION                                              | PENNSYLVANIA TURNPIKE COMMISSION 5.0% 12-01-28                                                       | CUSIP: 709225LA2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    510000 | PA      | $541516.47    | 0.02%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF NEW YORK AND NEW JERSEY                                        | PORT AUTHORITY OF NEW YORK & NEW JERSEY 5.0% 09-01-28                                                | CUSIP: 73358XNH1<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2099682.00   | 0.09%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                       | MEMORIAL TOWERS SENIOR HOUSING LP HUD SECT 8 3.35% 12-01-27                                          | CUSIP: 718903RU3<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1672777.22   | 0.07%             | 2027-12-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMISSION                                              | PENNSYLVANIA TURNPIKE COMMISSION 5.0% 12-01-29                                                       | CUSIP: 709225ND4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1309123.20   | 0.06%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMISSION                                              | PENNSYLVANIA TURNPIKE COMMISSION 5.0% 12-01-28                                                       | CUSIP: 709225NC6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1167976.70   | 0.05%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY WISCONSIN                                               | PROVIDENCE ST JOSEPH HEALTH OBLIGATED GROUP (MPT) 4.0% 10-01-41                                      | CUSIP: 74442PL52<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    140000 | PA      | $146994.82    | 0.01%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PERALTA CALIF CMNTY COLLEGE DIST                                                 | PERALTA COMMUNITY COLLEGE DISTRICT 5.0% 08-01-26                                                     | CUSIP: 713575YU6<br>LEI: 254900VWMA3IHACOBO19 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5032900.00   | 0.22%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | PENNSYLVANIA HOUSING FINANCE AGENCY 5.0% 10-01-52                                                    | CUSIP: 70879QSE4<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    405000 | PA      | $420781.64    | 0.02%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMISSION                                              | PENNSYLVANIA TURNPIKE COMMISSION 5.0% 12-01-27                                                       | CUSIP: 709224M89<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035480.00   | 0.05%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | PENNSYLVANIA HOUSING FINANCE AGENCY 5.75% 10-01-53                                                   | CUSIP: 70879QSZ7<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   4945000 | PA      | $5255694.35   | 0.23%             | 2053-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HIGHER ED ASSISTANCE AGY                                         | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY 5.0% 06-01-30                                        | CUSIP: 70878CAX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3055000 | PA      | $3214083.02   | 0.14%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HIGHER ED ASSISTANCE AGY                                         | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY 5.0% 06-01-31                                        | CUSIP: 70878CBN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1764485.26   | 0.08%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUARTE UNIFIED SCHOOL DISTRICT                                                   | DUARTE UNIFIED SCHOOL DISTRICT NATL 0.0% 11-01-28                                                    | CUSIP: 263597MD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $938063.00    | 0.04%             | 2028-11-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TEX INDPT SCH DIST                                                        | DALLAS INDEPENDENT SCHOOL DISTRICT PSF-GTD (MPT) 5.0% 02-15-56                                       | CUSIP: 235308Y23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6225000 | PA      | $6683533.50   | 0.29%             | 2056-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA (WASHINGTON DC)                                             | DISTRICT OF COLUMBIA 5.0% 06-01-29                                                                   | CUSIP: 25476FK23<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2320000 | PA      | $2487652.48   | 0.11%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA (WASHINGTON DC)                                             | DISTRICT OF COLUMBIA 5.0% 06-01-27                                                                   | CUSIP: 25476FM47<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1804325.60   | 0.08%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA (WASHINGTON DC)                                             | DISTRICT OF COLUMBIA 5.0% 06-01-28                                                                   | CUSIP: 25476FM54<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1245207.48   | 0.05%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA (WASHINGTON DC)                                             | CHILDREN'S NATIONAL MEDICAL CENTER OBLIGATED GROUP 5.0% 07-15-35                                     | CUSIP: 254764JZ7<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800708.00    | 0.03%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE                                | CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE 5.0% 12-01-29                                      | CUSIP: 249182LC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049825.00   | 0.05%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE                                | CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE 5.0% 12-01-31                                      | CUSIP: 249182LE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1700603.13   | 0.07%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAST BATON ROUGE LA SEW COMMN                                                    | EAST BATON ROUGE SEWERAGE COMMISSION (MPT) 1.3% 02-01-41                                             | CUSIP: 270618HF1<br>LEI: 5493006BC84VNIRSCG97 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2852958.00   | 0.12%             | 2041-02-01      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| ERIE PA WTR AUTH                                                                 | ERIE CITY WATER AUTHORITY 5.0% 12-01-43                                                              | CUSIP: 295542MW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1215498.00   | 0.05%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY SOUTHEAST ALA COOP DIST ENERGY SUPPLY                                     | ENERGY SOUTHEAST A COOPERATIVE DISTRICT (MPT) 5.5% 11-01-53                                          | CUSIP: 292723AK9<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2525154.90   | 0.11%             | 2053-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EL RANCHO CALIF UNI SCH DIST                                                     | EL RANCHO UNIFIED SCHOOL DISTRICT BAM 5.5% 08-01-26                                                  | CUSIP: 283839D47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $453037.50    | 0.02%             | 2026-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENERGY SOUTHEAST ALA COOP DIST ENERGY SUPPLY                                     | ENERGY SOUTHEAST A COOPERATIVE DISTRICT (MPT) 5.25% 07-01-54                                         | CUSIP: 292723BN2<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1783827.20   | 0.08%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EL PASO TEX INDPT SCH DIST                                                       | EL PASO INDEPENDENT SCHOOL DISTRICT PSF-GTD 4.0% 08-15-48                                            | CUSIP: 283770PD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $709252.24    | 0.03%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENERGY NORTHWEST                                                                 | BONNEVILLE POWER ADMINISTRATION 5.0% 07-01-30                                                        | CUSIP: 29270C6J9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1367087.50   | 0.06%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY NORTHWEST                                                                 | BONNEVILLE POWER ADMINISTRATION 5.0% 07-01-28                                                        | CUSIP: 29270C6X8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2105028.00   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTANA ST BRD HSG                                                               | MT SFM PAC (100-400) PSA 16A-2 SF 3.5% 06-01-44                                                      | CUSIP: 61212WCF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $29988.93     | 0.00%             | 2044-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MONTANA ST BRD HSG                                                               | TWIN CREEK 4 HOUSING ASSOCIATES LLLP (MPT) 5.0% 09-01-28                                             | CUSIP: 61212VAT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1084000 | PA      | $1111947.69   | 0.05%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MABANK INDEPENDENT SCHOOL DISTRICT                                               | MABANK INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-29                                             | CUSIP: 554086NZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $816686.88    | 0.04%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VICTORY STREET PUBLIC FACILITY CORP                                              | INDEPENDENCE HEIGHTS APARTMENTS II LP (MPT) 3.15% 01-01-47                                           | CUSIP: 92647CAZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5660000 | PA      | $5674019.82   | 0.25%             | 2047-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH TRANSN BRD                                                      | COMMONWEALTH OF VIRGINIA 5.0% 05-15-33                                                               | CUSIP: 9277932C2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3605000 | PA      | $4106657.38   | 0.18%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERMONT HSG FIN AGY                                                              | VERMONT HOUSING FINANCE AGENCY 4.0% 11-01-44                                                         | CUSIP: 924190GP0<br>LEI: 549300RD7EYN90K0W008 | Long             | DBT              | MUN               | US        |     40000 | PA      | $40004.04     | 0.00%             | 2044-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WHITING IND                                                                      | BP PRODUCTS NORTH AMERICA INC (MPT) 5.0% 12-01-44                                                    | CUSIP: 96634RAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3005628.00   | 0.13%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE        | WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE FNMA COLL 4.0% 03-01-50    | CUSIP: 97689QLY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $432699.97    | 0.02%             | 2050-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN (STATE OF)                                                             | STATE OF WISCONSIN 5.0% 05-01-30                                                                     | CUSIP: 97705MPW9<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1092602.00   | 0.05%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE        | WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE 3.5% 09-01-50              | CUSIP: 97689QNB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1060000 | PA      | $1057755.98   | 0.05%             | 2050-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WYOMING COMMUNITY DEVELOPMENT AUTHORITY                                          | WYOMING COMMUNITY DEVELOPMENT AUTHORITY 4.0% 12-01-50                                                | CUSIP: 98322QVP9<br>LEI: 549300UQ62NB8FGTHW65 | Long             | DBT              | MUN               | US        |    465000 | PA      | $468854.39    | 0.02%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON STATE HOUSING FINANCE COMMISSION                                      | WASHINGTON STATE HOUSING FINANCE COMMISSION GNMA/FNMA/FHLMC 4.0% 12-01-50                            | CUSIP: 93978TN88<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    830000 | PA      | $836493.92    | 0.04%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WYOMING COMMUNITY DEVELOPMENT AUTHORITY                                          | WYOMING COMMUNITY DEVELOPMENT AUTHORITY 3.0% 06-01-50                                                | CUSIP: 98322QXX0<br>LEI: 549300UQ62NB8FGTHW65 | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2656516.50   | 0.12%             | 2050-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE        | WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE 3.0% 03-01-52              | CUSIP: 97689QPF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1113008.19   | 0.05%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WYOMING COMMUNITY DEVELOPMENT AUTHORITY                                          | WYOMING COMMUNITY DEVELOPMENT AUTHORITY GNMA/FHLMC/FNMA COLL 3.0% 06-01-50                           | CUSIP: 98322QYW1<br>LEI: 549300UQ62NB8FGTHW65 | Long             | DBT              | MUN               | US        |    350000 | PA      | $347142.95    | 0.02%             | 2050-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON STATE HOUSING FINANCE COMMISSION                                      | WASHINGTON STATE HOUSING FINANCE COMMISSION GNMA/FNMA/FHLMC 3.0% 06-01-51                            | CUSIP: 93978TZ77<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    475000 | PA      | $466292.30    | 0.02%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE        | WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE GNMA/FHLMC/FNMA COLL 3.0%  | CUSIP: 97689QQG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $438676.55    | 0.02%             | 2052-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON STATE HOUSING FINANCE COMMISSION                                      | WASHINGTON STATE HOUSING FINANCE COMMISSION GNMA/FNMA/FHLMC 5.0% 12-01-52                            | CUSIP: 93978T3C1<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    560000 | PA      | $583901.36    | 0.03%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WALNUT VALLEY CALIF UNI SCH DIST                                                 | WALNUT VALLEY UNIFIED SCHOOL DISTRICT 0.0% 08-01-31                                                  | CUSIP: 932889TU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $841488.37    | 0.04%             | 2031-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORITY                              | ADVOCATE AURORA HEALTH OBLIGATED GROUP (MPT) 5.0% 08-15-54                                           | CUSIP: 97712JGW7<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1510000 | PA      | $1514631.17   | 0.07%             | 2054-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORITY                              | ADVOCATE AURORA HEALTH OBLIGATED GROUP (MPT) 5.0% 08-15-54                                           | CUSIP: 97712JGV9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   4845000 | PA      | $4859859.62   | 0.21%             | 2054-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYOMING COMMUNITY DEVELOPMENT AUTHORITY                                          | WYOMING COMMUNITY DEVELOPMENT AUTHORITY 5.75% 06-01-53                                               | CUSIP: 98322QE78<br>LEI: 549300UQ62NB8FGTHW65 | Long             | DBT              | MUN               | US        |    705000 | PA      | $741706.53    | 0.03%             | 2053-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WASHINGTON (STATE OF)                                                            | STATE OF WASHINGTON 5.0% 02-01-37                                                                    | CUSIP: 93974EYW0<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1133673.90   | 0.05%             | 2037-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHARLOTTE NC AIRPORT REVENUE                                             | CITY OF CHARLOTTE NC AIRPORT REVENUE 5.0% 07-01-26                                                   | CUSIP: 161036VR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $376221.75    | 0.02%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHARLOTTE NC AIRPORT REVENUE                                             | CITY OF CHARLOTTE NC AIRPORT REVENUE 5.0% 07-01-27                                                   | CUSIP: 161036VS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512116.00    | 0.02%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE PUBLIC WORKS BOARD                                              | STATE OF CALIFORNIA 5.0% 09-01-26                                                                    | CUSIP: 13068XHA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504094.00    | 0.02%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX UTIL SYS REV                                                         | CITY OF HOUSTON TX COMBINED UTILITY SYSTEM REVENUE FRN 05-15-34                                      | CUSIP: 44244CRZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10000000.00  | 0.44%             | 2034-05-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE                                        | CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE 5.0% 07-01-27                                              | CUSIP: 442349DP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022957.00   | 0.04%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA HSG FIN AGY                                                             | OKLAHOMA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC COLL 5.75% 09-01-53                                  | CUSIP: 67886MYX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    895000 | PA      | $970342.89    | 0.04%             | 2053-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH POLLUTION CONTROL LOAN FUND                                 | OHIO WATER DEVELOPMENT AUTHORITY WATER POLLUTION CONTROL LOAN FUND 5.0% 06-01-28                     | CUSIP: 67766WL42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $761231.88    | 0.03%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMPTON ROADS VA TRANSPRTN ACCOUNTABILITY COMMISSION                             | HAMPTON ROADS TRANSPORTATION FUND 5.0% 07-01-26                                                      | CUSIP: 40934TAV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3412515.40   | 0.15%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOOVER ALA                                                                       | CITY OF HOOVER AL 4.0% 07-01-33                                                                      | CUSIP: 439238KZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002273.00   | 0.04%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA HSG FIN AGY                                                             | OKLAHOMA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 6.0% 09-01-54                                        | CUSIP: 67886MG94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    910000 | PA      | $999611.34    | 0.04%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA HSG FIN AGY                                                             | OKLAHOMA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 6.25% 09-01-55                                       | CUSIP: 67886ML56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $815523.66    | 0.04%             | 2055-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE                                        | CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE AG 5.0% 07-01-28                                           | CUSIP: 442349GD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2740219.13   | 0.12%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX UTIL SYS REV                                                         | CITY OF HOUSTON TX COMBINED UTILITY SYSTEM REVENUE 5.0% 11-15-26                                     | CUSIP: 44244CS32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $293596.29    | 0.01%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA HSG FIN AGY                                                             | OKLAHOMA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 6.0% 03-01-56                                        | CUSIP: 67886MP94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1989900.59   | 0.09%             | 2056-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | OHIO HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 4.0% 03-01-47                                            | CUSIP: 67756QPJ0<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |     85000 | PA      | $85088.23     | 0.00%             | 2047-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY-HOUSTON SPORTS AUTHORITY                                           | HARRIS COUNTY-HOUSTON SPORTS AUTHORITY AG 5.0% 11-15-30                                              | CUSIP: 413890GT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1437447.00   | 0.06%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOMERVILLE HOUSING AUTHORITY                                                     | DHM HOMERVILLE LP (MPT) 3.45% 01-01-28                                                               | CUSIP: 437597AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1248161.06   | 0.05%             | 2028-01-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| ORLANDO FLA UTILS COMMN                                                          | ORLANDO UTILITIES COMMISSION 5.0% 10-01-31                                                           | CUSIP: 686507LJ1<br>LEI: 549300EJR7JVMRXL5D66 | Long             | DBT              | MUN               | US        |    500000 | PA      | $557603.50    | 0.02%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORLANDO FLA UTILS COMMN                                                          | ORLANDO UTILITIES COMMISSION 5.0% 10-01-32                                                           | CUSIP: 686507LK8<br>LEI: 549300EJR7JVMRXL5D66 | Long             | DBT              | MUN               | US        |    500000 | PA      | $564789.50    | 0.02%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAYWARD UNIFIED SCHOOL DISTRICT                                                  | HAYWARD UNIFIED SCHOOL DISTRICT AG 5.0% 08-01-29                                                     | CUSIP: 421295AQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $444793.42    | 0.02%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMPTON ROADS SANTN DIST VA                                                      | HAMPTON ROADS SANITATION DISTRICT 5.0% 07-15-26                                                      | CUSIP: 409327MW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6028728.00   | 0.26%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO AIR QUALITY DEVELOPMENT AUTHORITY                                           | AMERICAN ELECTRIC POWER CO INC 3.7% 07-01-28                                                         | CUSIP: 677525WW3<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1965000 | PA      | $1979112.63   | 0.09%             | 2028-07-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| OHIO AIR QUALITY DEVELOPMENT AUTHORITY                                           | AMERICAN ELECTRIC POWER CO INC 3.7% 04-01-28                                                         | CUSIP: 677525WX1<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1706190.39   | 0.07%             | 2028-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX INDPT SCH DIST                                                       | HOUSTON INDEPENDENT SCHOOL DISTRICT (MPT) 5.0% 07-15-45                                              | CUSIP: 442403SH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6935000 | PA      | $7243011.09   | 0.32%             | 2045-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSING OPTIONS INC/TX                                                           | HOUSING OPTIONS INC HUD SECT 8 (MPT) 3.05% 02-01-45                                                  | CUSIP: 44183TAN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $905856.13    | 0.04%             | 2045-02-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| OHIO AIR QUALITY DEVELOPMENT AUTHORITY                                           | AMERICAN ELECTRIC POWER CO INC 3.75% 01-01-29                                                        | CUSIP: 677525WZ6<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009098.00   | 0.04%             | 2029-01-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OREGON ST HSG & CMNTY SVCS DEPT                                                  | STATE OF OREGON HOUSING & COMMUNITY SERVICES DEPARTMENT GNMA/FNMA/FHLMC 6.5% 07-01-54                | CUSIP: 6860875V5<br>LEI: 549300N3PYWYJ0Z8N757 | Long             | DBT              | MUN               | US        |    565000 | PA      | $625435.79    | 0.03%             | 2054-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY HOUSING FINANCE CORP                                               | KOBAYASHI BAYPOINTE APARTMENTS LP (MPT) 2.95% 09-01-43                                               | CUSIP: 414158TQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1450818.33   | 0.06%             | 2043-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| COUNTY OF HARFORD MD                                                             | COUNTY OF HARFORD MD 5.0% 10-01-27                                                                   | CUSIP: 412487PK0<br>LEI: 549300BAMXA3G0J23I39 | Long             | DBT              | MUN               | US        |   5370000 | PA      | $5556784.71   | 0.24%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO                                                                    | STATE OF OHIO 5.0% 11-01-28                                                                          | CUSIP: 677523JY9<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   2575000 | PA      | $2731907.63   | 0.12%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | BEECHWOOD RAD LLC HUD SECT 8 FHA 221(D)(4) (MPT) 3.37% 03-01-28                                      | CUSIP: 676900XK4<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2355851.50   | 0.10%             | 2028-03-01      | Fixed         | 3.37%                 | No            |                  2 | On Loan: No      |
| OREGON STATE LOTTERY                                                             | OREGON STATE LOTTERY 5.0% 04-01-29                                                                   | CUSIP: 68607V6B6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2735000 | PA      | $2929193.21   | 0.13%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON (STATE OF)                                                                | STATE OF OREGON 5.0% 08-01-29                                                                        | CUSIP: 68609USC0<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1681196.40   | 0.07%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON (STATE OF)                                                                | STATE OF OREGON 5.0% 08-01-30                                                                        | CUSIP: 68609URH0<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1647225.00   | 0.07%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | COMMUNITY PENDLETON PRESERVATION ASSOCIATES LP (MPT) 3.4% 07-01-42                                   | CUSIP: 676900XT5<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1304171.70   | 0.06%             | 2042-07-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | OHIO HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC COLL 3.5% 09-01-46                                       | CUSIP: 67756QTT4<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    185000 | PA      | $184610.95    | 0.01%             | 2046-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | OHIO HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 6.5% 03-01-56                                            | CUSIP: 67756UDQ8<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   4290000 | PA      | $4890085.20   | 0.21%             | 2056-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DEV AUTH                                             | SOUTH CAROLINA STATE HOUSING FINANCE & DEVELOPMENT AUTHORITY 3.0% 01-01-52                           | CUSIP: 83712DS31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $395236.00    | 0.02%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO WATER SYSTEMS                                                | SAN ANTONIO WATER SYSTEM (MPT) 1.0% 05-01-43                                                         | CUSIP: 79642GNB4<br>LEI: 549300S7VENCVRZAA322 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $988490.00    | 0.04%             | 2043-05-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELECTRIC & GAS                                                   | CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVENUE 5.0% 02-01-27                                  | CUSIP: 79625GEE9<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |     90000 | PA      | $91571.94     | 0.00%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUBLIC SERVICE AUTHORITY                                          | SOUTH CAROLINA PUBLIC SERVICE AUTHORITY 5.0% 12-01-29                                                | CUSIP: 837151ZG7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |     85000 | PA      | $91630.60     | 0.00%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DEV AUTH                                             | SOUTH CAROLINA STATE HOUSING FINANCE & DEVELOPMENT AUTHORITY 4.0% 01-01-52                           | CUSIP: 83712DV78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $591793.61    | 0.03%             | 2052-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF UNIFIED SCHOOL DIST                                          | SAN FRANCISCO UNIFIED SCHOOL DISTRICT 5.0% 06-15-27                                                  | CUSIP: 79771TPN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1207641.50   | 0.05%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HSG DEV AUTH                                                        | SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY 5.0% 05-01-53                                             | CUSIP: 83756CW27<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |   1510000 | PA      | $1559058.39   | 0.07%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CALIF CITY UNI SCH DIST                                               | SACRAMENTO CITY UNIFIED SCHOOL DISTRICT BAM 5.0% 07-01-27                                            | CUSIP: 785870F68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $705830.85    | 0.03%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DEV AUTH                                             | SOUTH CAROLINA STATE HOUSING FINANCE & DEVELOPMENT AUTHORITY 5.0% 01-01-52                           | CUSIP: 83712DY91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2580000 | PA      | $2689337.82   | 0.12%             | 2052-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY PUB UTILS COMMN WSTEWTR REV                      | SAN FRANCISCO CITY & COUNTY PUBLIC UTILITIES COMMISSION WASTEWATER REVENUE (MPT) 4.0% 10-01-48       | CUSIP: 79768HGV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1575519.71   | 0.07%             | 2048-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO SALES TAX SECURITIZATION CORPORATION                                     | SALES TAX SECURITIZATION CORP 5.0% 01-01-29                                                          | CUSIP: 79467BGQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1930000 | PA      | $2032932.69   | 0.09%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPRING TEX INDPT SCH DIST                                                        | SPRING INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-26                                             | CUSIP: 850001BM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1172965.11   | 0.05%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP                         | HOUSTON METHODIST HOSPITAL OBLIGATED GROUP 5.0% 12-01-29                                             | CUSIP: 414009UA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8235000 | PA      | $8856948.38   | 0.39%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HHA FOUNTAINVIEW PFC                                                             | PILLAR IDLEWILDE LP (MPT) 2.75% 04-01-43                                                             | CUSIP: 42837AAE8<br>LEI: 549300ZN5YK1CRD2RN47 | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2116134.50   | 0.09%             | 2043-04-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST TPK AUTH                                                              | STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION 5.0% 07-01-28                                          | CUSIP: 343137ZA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4165000 | PA      | $4381017.73   | 0.19%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | SOUTHWARD VILLAGE PHASE 2 LP (MPT) 3.2% 12-01-44                                                     | CUSIP: 34074HHS4<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   2010000 | PA      | $2013810.96   | 0.09%             | 2044-12-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | ARBOURS AT EMERALD SPRINGS LLC (MPT) 3.15% 12-01-28                                                  | CUSIP: 34074HHT2<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    355000 | PA      | $355514.40    | 0.02%             | 2028-12-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX INDPT SCH DIST                                                   | SAN ANTONIO INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-26                                        | CUSIP: 796269N38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3845000 | PA      | $3870392.38   | 0.17%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HSG DEV AUTH                                                        | SD HDA SFM PAC (100-400) PSA 16D SF 3.5% 11-01-46                                                    | CUSIP: 83756CPQ2<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |     85000 | PA      | $84845.56     | 0.00%             | 2046-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | BDG MARIPOSA GROVE LLC (MPT) 3.15% 01-01-44                                                          | CUSIP: 34074HHY1<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   3110000 | PA      | $3114792.51   | 0.14%             | 2044-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | RICHMAN CAPRI LIHTC LLC (MPT) 3.0% 02-01-44                                                          | CUSIP: 34074HJA1<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    725000 | PA      | $724359.83    | 0.03%             | 2044-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STATE OF HAWAII STATE HIGHWAY FUND                                               | STATE OF HAWAII STATE HIGHWAY FUND 5.0% 01-01-31                                                     | CUSIP: 41981CQJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1653945.00   | 0.07%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAWAII (STATE OF)                                                                | STATE OF HAWAII 5.0% 10-01-28                                                                        | CUSIP: 419792MK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2080000 | PA      | $2101180.64   | 0.09%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELECTRIC & GAS                                                   | CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVENUE (MPT) 3.08% 02-01-55                           | CUSIP: 79625GNE9<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   6325000 | PA      | $6322640.78   | 0.28%             | 2055-02-01      | Fixed         | 3.08%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY AL                                                    | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT 5.0% 10-01-30                                      | CUSIP: 84136HCT8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   7830000 | PA      | $8371695.06   | 0.36%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA (STATE OF)                                                               | STATE OF FLORIDA 4.0% 06-01-40                                                                       | CUSIP: 34153QHZ2<br>LEI: 5493004G5XFOOUT0LQ57 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1219297.20   | 0.05%             | 2040-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA                                                   | MAIN STREET NATURAL GAS INC (MPT) 5.0% 12-01-54                                                      | CUSIP: 56035DHK1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   4695000 | PA      | $5053951.53   | 0.22%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELECTRIC & GAS                                                   | CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVENUE (MPT) 3.0% 02-01-55                            | CUSIP: 79625GNT6<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   5770000 | PA      | $5740659.55   | 0.25%             | 2055-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUBLIC SERVICE AUTHORITY                                          | SOUTH CAROLINA PUBLIC SERVICE AUTHORITY 5.0% 12-01-33                                                | CUSIP: 83715BDA2<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    710000 | PA      | $711113.99    | 0.03%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                                 | HONORHEALTH OBLIGATED GROUP 5.0% 12-01-26                                                            | CUSIP: 56678PBS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1519372.50   | 0.07%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH                                                      | MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY 4.25% 07-01-32                                         | CUSIP: 57563RUB3<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |     80000 | PA      | $80896.40     | 0.00%             | 2032-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUBLIC SERVICE AUTHORITY                                          | SOUTH CAROLINA PUBLIC SERVICE AUTHORITY 5.0% 12-01-31                                                | CUSIP: 83715BCZ8<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1362305.20   | 0.06%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY                                                            | TENNESSEE HOUSING DEVELOPMENT AGENCY 5.0% 01-01-53                                                   | CUSIP: 88046KBD7<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |    435000 | PA      | $449250.17    | 0.02%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS                                  | TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS GNMA COLL 5.75% 01-01-53                             | CUSIP: 882750SX1<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   3075000 | PA      | $3316901.03   | 0.14%             | 2053-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & TUNNEL AUTHORITY                                             | METROPOLITAN TRANSPORTATION AUTHORITY PAYROLL MOBILITY TAX REVENUE 5.0% 11-15-27                     | CUSIP: 89602HEV5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   4950000 | PA      | $5104727.10   | 0.22%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND (STATE OF)                                                              | STATE OF MARYLAND 5.0% 06-01-34                                                                      | CUSIP: 574193WN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1154421.00   | 0.05%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSION ECONOMIC DEVELOPMENT CORP                                                | REPUBLIC SERVICES INC (MPT) 4.0% 06-01-54                                                            | CUSIP: 605155BV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2016128.00   | 0.09%             | 2054-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS                                  | TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS GNMA COLL 6.0% 03-01-53                              | CUSIP: 88275FVW6<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1827373.08   | 0.08%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS                                  | TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS GNMA COLL 5.5% 07-01-53                              | CUSIP: 882750UA8<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   2935000 | PA      | $3139666.36   | 0.14%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | FLATS PHASE I LTD DIVIDEND HOUSING ASSOCIATION LLC (MPT) 3.8% 07-01-41                               | CUSIP: 594650UL5<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3003528.00   | 0.13%             | 2041-07-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| TOWN OF MOREHEAD CITY NC                                                         | ELIJAH'S LANDING OF MOREHEAD CITY LLC FHA 221(D4) (MPT) 4.05% 01-01-28                               | CUSIP: 616587AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3490000 | PA      | $3511868.34   | 0.15%             | 2028-01-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY                                                            | TN HDA SFH PAC (100-400) PSA SF 4.0% 01-01-46                                                        | CUSIP: 880461HK7<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |    135000 | PA      | $134952.89    | 0.01%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & TUNNEL AUTHORITY                                             | TRIBOROUGH BRIDGE & TUNNEL AUTHORITY FRN 01-01-35                                                    | CUSIP: 89602RKE4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   4800000 | PA      | $4800000.00   | 0.21%             | 2035-01-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| MISSION ECONOMIC DEVELOPMENT CORP                                                | WASTE MANAGEMENT INC (MPT) 4.25% 06-01-48                                                            | CUSIP: 605155BU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11335000 | PA      | $11433954.55  | 0.50%             | 2048-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CNTY OF MIAMI-DADE FL AVIATION REVENUE                                           | COUNTY OF MIAMI-DADE FL AVIATION REVENUE 5.0% 10-01-29                                               | CUSIP: 59333P7F9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1773283.28   | 0.08%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & TUNNEL AUTHORITY                                             | TRIBOROUGH BRIDGE & TUNNEL AUTHORITY FRN 01-01-32                                                    | CUSIP: 89602RKC8<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1990000 | PA      | $1990000.00   | 0.09%             | 2032-01-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| TEXAS ST AFFORDABLE HSG CORP                                                     | FC JUNIPER CREEK HOUSING LP (MPT) 3.75% 07-01-44                                                     | CUSIP: 88271FFP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2085000 | PA      | $2086813.95   | 0.09%             | 2044-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV BRD                                                              | STATE WATER IMPLEMENTATION REVENUE FUND FOR TEXAS 5.0% 10-15-28                                      | CUSIP: 88285ACS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $243776.31    | 0.01%             | 2028-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TUSTIN CALIF CMNTY FACS DIST                                                     | CITY OF TUSTIN CA COMMUNITY FACILITIES DISTRICT NO 07-1 5.0% 09-01-30                                | CUSIP: 901047HK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2772228.25   | 0.12%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF HAWAII AIRPORTS SYSTEM REVENUE                                          | STATE OF HAWAII AIRPORTS SYSTEM REVENUE 5.0% 07-01-29                                                | CUSIP: 419794ZS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042226.00   | 0.05%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | ILLINOIS HOUSING DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC 4.0% 10-01-49                                 | CUSIP: 45201Y3R6<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    145000 | PA      | $145748.35    | 0.01%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUNICIPAL GAS ACQUISITION AND SUPPLY CORPORATION IV                        | TEXAS MUNICIPAL GAS ACQUISITION & SUPPLY CORP IV (MPT) 5.5% 01-01-54                                 | CUSIP: 88256PAG5<br>LEI: 549300PTUE847QDBBW22 | Long             | DBT              | MUN               | US        |   7040000 | PA      | $7447820.16   | 0.32%             | 2054-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TEXAS ST AFFORDABLE HSG CORP                                                     | AHFC-FC NORMAN HOUSING LP (MPT) 3.625% 01-01-45                                                      | CUSIP: 88271FFR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1154388.40   | 0.05%             | 2045-01-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS                                  | TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS GNMA COLL 6.0% 03-01-54                              | CUSIP: 88275FYZ6<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |    825000 | PA      | $904013.55    | 0.04%             | 2054-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & TUNNEL AUTHORITY SALES TAX REVENUE                           | TRIBOROUGH BRIDGE & TUNNEL AUTHORITY SALES TAX REVENUE 5.0% 05-15-32                                 | CUSIP: 896035CM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $903192.00    | 0.04%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & TUNNEL AUTHORITY SALES TAX REVENUE                           | TRIBOROUGH BRIDGE & TUNNEL AUTHORITY SALES TAX REVENUE 5.0% 05-15-30                                 | CUSIP: 896035CK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $685094.38    | 0.03%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & TUNNEL AUTHORITY SALES TAX REVENUE                           | TRIBOROUGH BRIDGE & TUNNEL AUTHORITY SALES TAX REVENUE 5.0% 05-15-31                                 | CUSIP: 896035CL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $1002603.60   | 0.04%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY HOUSING FINANCE CORP                                              | 4450 MARINE CREEK PARKWAY TX OWNER LP (MPT) 5.0% 09-01-28                                            | CUSIP: 876394UN5<br>LEI: 54930055IA4O4ZTEN156 | Long             | DBT              | MUN               | US        |    450000 | PA      | $461601.90    | 0.02%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY                                                            | TENNESSEE HOUSING DEVELOPMENT AGENCY 3.5% 01-01-47                                                   | CUSIP: 880461JT6<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |    105000 | PA      | $104906.03    | 0.00%             | 2047-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER AUTHORITY                                                   | LOWER COLORADO RIVER AUTHORITY 5.0% 05-15-27                                                         | CUSIP: 54811GM31<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    780000 | PA      | $799240.26    | 0.03%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STADIUM & EXPOSITION DISTRICT                                          | LOUISIANA STADIUM & EXPOSITION DISTRICT 5.0% 07-01-30                                                | CUSIP: 546410CH2<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |    475000 | PA      | $514801.68    | 0.02%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY                      | MARYLAND INSTITUTE COLLEGE OF ART 5.25% 06-01-32                                                     | CUSIP: 57421CFS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1171994.34   | 0.05%             | 2032-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY                      | MARYLAND INSTITUTE COLLEGE OF ART 5.25% 06-01-42                                                     | CUSIP: 57421CFX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1511452.50   | 0.07%             | 2042-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS                                  | PALLADIUM OLD FM 471 W LTD FHA 221(D)(4) (MPT) 3.05% 09-01-29                                        | CUSIP: 88275AEU0<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2626309.88   | 0.11%             | 2029-09-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| UTILITY DEBT SECURITIZATION AUTHORITY                                            | UTILITY DEBT SECURITIZATION AUTHORITY 5.0% 06-15-32                                                  | CUSIP: 91802RHS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8500000 | PA      | $9302230.00   | 0.40%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CNTY OF MIAMI-DADE FL AVIATION REVENUE                                           | COUNTY OF MIAMI-DADE FL AVIATION REVENUE 5.0% 10-01-32                                               | CUSIP: 59333P7J1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1099337.00   | 0.05%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH (HYATT REGENCY MCCORMICK PL)                 | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 4.0% 12-15-26                               | CUSIP: 592250FJ8<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2470000 | PA      | $2483167.57   | 0.11%             | 2026-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                                                  | UST 5YR FUT FVM6 06-30-26                                                                            | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |       262 | NC      | $-179171.20   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH (HYATT REGENCY MCCORMICK PL)                 | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 4.0% 12-15-27                               | CUSIP: 592250FK5<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    470000 | PA      | $476241.60    | 0.02%             | 2027-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY (MPT) 5.0% 12-01-27                                     | CUSIP: 59465FAD2<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2021992.00   | 0.09%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEANDER TEX INDPT SCH DIST                                                       | LEANDER INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                                            | CUSIP: 521841J31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4328909.75   | 0.19%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES & COMMUNITY DEVELOPMENT AUTH | EAST BATON ROUGE SEWERAGE COMMISSION 5.0% 02-01-29                                                   | CUSIP: 54628CM41<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    700000 | PA      | $737844.10    | 0.03%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | PA SFM AMT PAC (100-500%) PSA 15-118A SF 3.5% 04-01-40                                               | CUSIP: 708796X51<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |     55000 | PA      | $54834.51     | 0.00%             | 2040-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PORT HOUSTON TX                                                                  | PORT AUTHORITY OF HOUSTON OF HARRIS COUNTY TEXAS 5.0% 10-01-27                                       | CUSIP: 734262GC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $930539.70    | 0.04%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES & COMMUNITY DEVELOPMENT AUTH | EAST BATON ROUGE SEWERAGE COMMISSION 5.0% 02-01-27                                                   | CUSIP: 54628CM33<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    400000 | PA      | $406476.80    | 0.02%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LUBBOCK TX ELECTRIC                                                              | CITY OF LUBBOCK TX ELECTRIC LIGHT & POWER SYSTEM REVENUE AG 5.0% 04-15-30                            | CUSIP: 549203YT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1086219.00   | 0.05%             | 2030-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT HOUSTON TX                                                                  | PORT AUTHORITY OF HOUSTON OF HARRIS COUNTY TEXAS 5.0% 10-01-26                                       | CUSIP: 734262GB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $782494.25    | 0.03%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PECOS BARSTOW TOYAH TEX INDPT SCH DIST                                           | PECOS BARSTOW TOYAH INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                                | CUSIP: 705227HB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $712996.90    | 0.03%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY                            | WASTE MANAGEMENT INC (MPT) 4.6% 10-01-46                                                             | CUSIP: 708692BZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17500000 | PA      | $17539427.50  | 0.76%             | 2046-10-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PATRIOTS ENERGY GROUP S C GAS SYS REV                                            | PATRIOTS ENERGY GROUP FINANCING AGENCY (MPT) 5.25% 02-01-54                                          | CUSIP: 70342PAR5<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |    230000 | PA      | $246977.22    | 0.01%             | 2054-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LUBBOCK TX ELECTRIC                                                              | CITY OF LUBBOCK TX ELECTRIC LIGHT & POWER SYSTEM REVENUE 5.0% 04-15-29                               | CUSIP: 549203YS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $846175.74    | 0.04%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA HSG FIN AGY                                                            | DEERWOOD APARTMENTS LP (MPT) 4.0% 01-01-43                                                           | CUSIP: 54627CBS1<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1447212.30   | 0.06%             | 2043-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HIGHER ED ASSISTANCE AGY                                         | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY 4.125% 06-01-45                                      | CUSIP: 70878CBH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    636000 | PA      | $620361.40    | 0.03%             | 2045-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HIGHER ED ASSISTANCE AGY                                         | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY 5.0% 06-01-31                                        | CUSIP: 70878CBE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1347136.95   | 0.06%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAWRENCEVILLE GA HSG AUTH                                                        | APPLEWOOD TOWERS LP (MPT) 5.0% 10-01-28                                                              | CUSIP: 520628AR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $518861.75    | 0.02%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES & COMMUNITY DEVELOPMENT AUTH | EAST BATON ROUGE SEWERAGE COMMISSION BAM 5.0% 02-01-30                                               | CUSIP: 54628CY22<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    925000 | PA      | $996978.88    | 0.04%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF HBR DEPT                                                       | PORT OF LOS ANGELES 5.0% 08-01-27                                                                    | CUSIP: 544552B68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $640935.00    | 0.03%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA HSG FIN AGY                                                            | ARBOURS AT LAFAYETTE PHASE II LLC FHA 221(D)(4) (MPT) 5.0% 04-01-28                                  | CUSIP: 54627CCA9<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2238066.60   | 0.10%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OAKLAND CALIF                                                               | PORT OF OAKLAND 5.0% 05-01-29                                                                        | CUSIP: 735000VK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615000 | PA      | $649611.59    | 0.03%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OAKLAND CALIF                                                               | PORT OF OAKLAND 5.0% 05-01-28                                                                        | CUSIP: 735000UY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $31418.64     | 0.00%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE/JEFFERSON COUNTY METROPOLITAN GOVERNMENT                              | NORTON HEALTHCARE OBLIGATED GROUP 5.0% 10-01-33                                                      | CUSIP: 54659LBR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2011606.00   | 0.09%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LAS VEGAS NV SPECIAL IMPROVEMENT DISTRICT NO 818                         | CITY OF LAS VEGAS NV SPECIAL IMPROVEMENT DISTRICT NO 818 4.5% 12-01-27                               | CUSIP: 51779DAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304923.30    | 0.01%             | 2027-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MESQUITE TEX INDPT SCH DIST                                                      | MESQUITE INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-26                                           | CUSIP: 590760UJ1<br>LEI: 549300M7COV11VUIZE16 | Long             | DBT              | MUN               | US        |    565000 | PA      | $568714.88    | 0.02%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE COUNTY HOUSING FINANCE AUTHORITY                                      | RESIDENCES AT PALM COURT LLC (MPT) 2.95% 09-01-29                                                    | CUSIP: 593344CD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1483391.85   | 0.06%             | 2029-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPARTMENT OF AIRPORTS LOS ANGELES INTERNATIONAL AIR                 | CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS 5.0% 05-15-29                                             | CUSIP: 5444452J7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5165000 | PA      | $5492920.69   | 0.24%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPARTMENT OF AIRPORTS LOS ANGELES INTERNATIONAL AIR                 | CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS 5.0% 05-15-30                                             | CUSIP: 5444455R6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $883402.40    | 0.04%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MIDLAND CADDIS 4 LTD DIVIDEND HOUSING ASSOCIATION LLC (MPT) 2.9% 09-01-45                            | CUSIP: 59465FAE0<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2988696.00   | 0.13%             | 2045-09-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                               | COXHEALTH OBLIGATED GROUP 5.0% 11-15-32                                                              | CUSIP: 60637AYP1<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    900000 | PA      | $990156.60    | 0.04%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF PORTLAND OR ARPT                                                         | PORT OF PORTLAND OR AIRPORT REVENUE 5.0% 07-01-31                                                    | CUSIP: 7352403R2<br>LEI: 549300BRH7XZ3ZK0DS46 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4353772.00   | 0.19%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKE TAHOE UNIFIED SCHOOL DISTRICT                                               | LAKE TAHOE UNIFIED SCHOOL DISTRICT AG 0.0% 08-01-30                                                  | CUSIP: 511012KU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $916519.75    | 0.04%             | 2030-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPARTMENT OF WATER & POWER                                    | LOS ANGELES DEPARTMENT OF WATER & POWER POWER SYSTEM REVENUE 5.0% 07-01-30                           | CUSIP: 544532PB4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    750000 | PA      | $810699.00    | 0.04%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPARTMENT OF WATER & POWER                                    | LOS ANGELES DEPARTMENT OF WATER & POWER POWER SYSTEM REVENUE 5.0% 07-01-28                           | CUSIP: 544532PA6<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   3475000 | PA      | $3598310.38   | 0.16%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEE COUNTY HOUSING FINANCE AUTHORITY                                             | MHP LEE I LLC (MPT) 3.5% 12-01-42                                                                    | CUSIP: 52349HBH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2862289.20   | 0.12%             | 2042-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LEANDER TEX INDPT SCH DIST                                                       | LEANDER INDEPENDENT SCHOOL DISTRICT PSF-GTD 0.0% 08-15-26                                            | CUSIP: 521841P34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $793312.00    | 0.03%             | 2026-08-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF                                                                | CITY OF LOS ANGELES CA 5.0% 06-25-26                                                                 | CUSIP: 544351SF7<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10034800.00  | 0.44%             | 2026-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LINCOLN CNTY WYO                                                                 | EXXON CAPITAL VENTURES INC FRN 10-01-44                                                              | CUSIP: 533485BB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4700000 | PA      | $4700000.00   | 0.20%             | 2044-10-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| MINNESOTA (STATE OF)                                                             | STATE OF MINNESOTA 5.0% 08-01-28                                                                     | CUSIP: 60412AV26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3475000 | PA      | $3664144.25   | 0.16%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA (STATE OF)                                                             | STATE OF MINNESOTA 5.0% 08-01-28                                                                     | CUSIP: 60412A2L6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3735000 | PA      | $3938296.05   | 0.17%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA (STATE OF)                                                             | STATE OF MINNESOTA 5.0% 08-01-26                                                                     | CUSIP: 60412A2U6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4235000 | PA      | $4259863.69   | 0.19%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMISSION                                              | PENNSYLVANIA TURNPIKE COMMISSION 5.0% 12-01-26                                                       | CUSIP: 709224R27<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    400000 | PA      | $405166.00    | 0.02%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY                            | WASTE MANAGEMENT INC (MPT) 3.875% 08-01-38                                                           | CUSIP: 708692BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10014000.00  | 0.44%             | 2038-08-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ CIVIC IMPT CORP                                                     | CITY OF PHOENIX AZ AIRPORT REVENUE 5.0% 07-01-29                                                     | CUSIP: 71883MPM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1432555.20   | 0.06%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                       | REPUBLIC SERVICES INC (MPT) 2.95% 12-01-35                                                           | CUSIP: 71884RAA0<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   7270000 | PA      | $7270000.00   | 0.32%             | 2035-12-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HIGHER ED ASSISTANCE AGY                                         | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY 2.45% 06-01-41                                       | CUSIP: 70878CAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $218068.56    | 0.01%             | 2041-06-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | PENNSYLVANIA HOUSING FINANCE AGENCY 3.5% 04-01-51                                                    | CUSIP: 70879QHY2<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    130000 | PA      | $129884.82    | 0.01%             | 2051-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | PENNSYLVANIA HOUSING FINANCE AGENCY 3.0% 10-01-50                                                    | CUSIP: 70879QKE2<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1752379.40   | 0.08%             | 2050-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF NEW YORK AND NEW JERSEY                                        | PORT AUTHORITY OF NEW YORK & NEW JERSEY 5.0% 10-15-27                                                | CUSIP: 73358XBY7<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   3705000 | PA      | $3821911.28   | 0.17%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | PENNSYLVANIA HOUSING FINANCE AGENCY 3.0% 10-01-51                                                    | CUSIP: 70879QLX9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    445000 | PA      | $441021.70    | 0.02%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HIGHER ED ASSISTANCE AGY                                         | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY 5.0% 06-01-30                                        | CUSIP: 70878CAM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $419589.60    | 0.02%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HIGHER ED ASSISTANCE AGY                                         | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY 5.0% 06-01-27                                        | CUSIP: 70878CAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $532195.65    | 0.02%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HIGHER ED ASSISTANCE AGY                                         | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY 5.0% 06-01-26                                        | CUSIP: 70878CAH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95124.17     | 0.00%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF PHILADELPHIA                                                  | SCHOOL DISTRICT OF PHILADELPHIA ST AID WITHHLDG 5.0% 09-01-28                                        | CUSIP: 717883YC0<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1328634.56   | 0.06%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF PHILADELPHIA                                                  | SCHOOL DISTRICT OF PHILADELPHIA ST AID WITHHLDG 5.0% 09-01-28                                        | CUSIP: 717883YZ9<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |    365000 | PA      | $383360.96    | 0.02%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF PHILADELPHIA                                                  | SCHOOL DISTRICT OF PHILADELPHIA ST AID WITHHLDG 5.0% 09-01-27                                        | CUSIP: 717883YY2<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |    600000 | PA      | $617297.40    | 0.03%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON (STATE OF)                                                                | STATE OF OREGON 5.0% 05-01-27                                                                        | CUSIP: 68609UBU8<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    776000 | PA      | $795199.79    | 0.03%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON (STATE OF)                                                                | STATE OF OREGON 5.0% 06-01-26                                                                        | CUSIP: 68609UCS2<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1202343.60   | 0.05%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON (STATE OF)                                                                | STATE OF OREGON 5.5% 12-01-53                                                                        | CUSIP: 68609UEP6<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    575000 | PA      | $615481.15    | 0.03%             | 2053-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | SETON SQUARE PORTSMOUTH LP (MPT) 5.0% 10-01-28                                                       | CUSIP: 676900XR9<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   3140000 | PA      | $3224867.92   | 0.14%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON (STATE OF)                                                                | STATE OF OREGON 5.0% 11-01-27                                                                        | CUSIP: 68609UVE2<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   2770000 | PA      | $2873429.03   | 0.12%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST HSG & CMNTY SVCS DEPT                                                  | VERDE PINES HOUSING ASSOCIATES LP (MPT) 3.1% 12-01-59                                                | CUSIP: 68608ABZ2<br>LEI: 549300N3PYWYJ0Z8N757 | Long             | DBT              | MUN               | US        |    870000 | PA      | $870716.01    | 0.04%             | 2059-12-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| OREGON ST DEPT TRANSN                                                            | STATE OF OREGON DEPARTMENT OF TRANSPORTATION 5.0% 11-15-28                                           | CUSIP: 68607DXE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $164424.47    | 0.01%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO                                                                    | STATE OF OHIO 5.0% 03-01-29                                                                          | CUSIP: 677523SD5<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1880000 | PA      | $2008285.56   | 0.09%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | SCARBOROUGH SENIOR HOUSING LP (MPT) 2.75% 10-01-29                                                   | CUSIP: 676900YP2<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    645000 | PA      | $638807.36    | 0.03%             | 2029-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| OSCEOLA COUNTY HOUSING FINANCE AUTHORITY                                         | EC CRESTWOOD LLC (MPT) 2.65% 09-01-43                                                                | CUSIP: 687904CX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $484330.21    | 0.02%             | 2043-09-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO                                                                    | CLEVELAND CLINIC HEALTH SYSTEM OBLIGATED GROUP 5.0% 01-01-29                                         | CUSIP: 67756CHE1<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |  16200000 | PA      | $17162409.60  | 0.75%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH                                                             | OHIO WATER DEVELOPMENT AUTHORITY FRESH WATER FUND 5.0% 12-01-32                                      | CUSIP: 67765QTP1<br>LEI: 549300QMBH1DMY67FZ74 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1982986.25   | 0.09%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH                                                             | OHIO WATER DEVELOPMENT AUTHORITY FRESH WATER FUND 5.0% 06-01-32                                      | CUSIP: 67765QTN6<br>LEI: 549300QMBH1DMY67FZ74 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $3096700.75   | 0.13%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | OHIO HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC COLL 4.5% 03-01-47                                       | CUSIP: 67756QUZ8<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75159.15     | 0.00%             | 2047-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH POLLUTION CONTROL LOAN FUND                                 | OHIO WATER DEVELOPMENT AUTHORITY WATER POLLUTION CONTROL LOAN FUND 5.0% 06-01-28                     | CUSIP: 67766WXS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $256613.50    | 0.01%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST HSG & CMNTY SVCS DEPT                                                  | STATE OF OREGON HOUSING & COMMUNITY SERVICES DEPARTMENT 4.0% 07-01-47                                | CUSIP: 686087VE4<br>LEI: 549300N3PYWYJ0Z8N757 | Long             | DBT              | MUN               | US        |    560000 | PA      | $559804.56    | 0.02%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | OHIO HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 4.0% 03-01-48                                            | CUSIP: 67756QWH6<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    760000 | PA      | $760600.40    | 0.03%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OREGON (STATE OF)                                                                | STATE OF OREGON 3.5% 12-01-47                                                                        | CUSIP: 68609B5U7<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    220000 | PA      | $219743.04    | 0.01%             | 2047-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | OHIO HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 4.5% 09-01-49                                            | CUSIP: 67756QYS0<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1004504.24   | 0.04%             | 2049-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA HEALTH FACS AUTH                                                 | ORLANDO HEALTH OBLIGATED GROUP 5.0% 10-01-26                                                         | CUSIP: 68450LGA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504376.00    | 0.02%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEFA INC                                                                         | PEFA INC (MPT) 5.0% 09-01-49                                                                         | CUSIP: 70556CAB0<br>LEI: 549300RSE249DJNRHY07 | Long             | DBT              | MUN               | US        |  18345000 | PA      | $18451529.42  | 0.80%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY                                       | CITY OF ANAHEIM CA ELECTRIC SYSTEM REVENUE (MPT) 3.7% 07-01-40                                       | CUSIP: 842475R80<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   7800000 | PA      | $7811551.80   | 0.34%             | 2040-07-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO MUNICIPAL UTILITY DISTRICT                                            | SACRAMENTO MUNICIPAL UTILITY DISTRICT (MPT) 5.0% 08-15-55                                            | CUSIP: 786005N79<br>LEI: E3GSVR6ZOU1MX2V7HF33 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1130719.14   | 0.05%             | 2055-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY AL                                                    | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT (MPT) 5.25% 11-01-55                               | CUSIP: 84136JAL3<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2163966.00   | 0.09%             | 2055-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAN MATEO CALIF UN HIGH SCH DIST                                                 | SAN MATEO UNION HIGH SCHOOL DISTRICT 5.0% 09-01-29                                                   | CUSIP: 799017ZZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2315000 | PA      | $2518247.74   | 0.11%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELECTRIC & GAS                                                   | CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVENUE (MPT) 2.9% 02-01-55                            | CUSIP: 79625GNS8<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   4110000 | PA      | $4092651.69   | 0.18%             | 2055-02-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| TEXAS (STATE OF)                                                                 | STATE OF TEXAS 4.0% 08-01-30                                                                         | CUSIP: 882724VW4<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |    560000 | PA      | $560392.00    | 0.02%             | 2030-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TANGIPAHOA PARISH LA HOSP SVC DIST NO 1                                          | TANGIPAHOA PARISH HOSPITAL SERVICE DISTRICT NO 1 5.0% 02-01-27                                       | CUSIP: 875518EM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1517908.50   | 0.07%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY                                                            | TENNESSEE HOUSING DEVELOPMENT AGENCY 4.0% 07-01-45                                                   | CUSIP: 880461FW3<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |    105000 | PA      | $104963.36    | 0.00%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH HOUSING CORP                                                                | COLLABORATIVE 1881 PHASE 1 LLC (MPT) 2.65% 03-01-45                                                  | CUSIP: 917434DR0<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    385000 | PA      | $379942.26    | 0.02%             | 2045-03-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF CALIFORNIA                                                         | UNIVERSITY OF CALIFORNIA 5.0% 11-15-32                                                               | CUSIP: 91412HXQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3401412.00   | 0.15%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF HOUSTON                                                            | UNIVERSITY OF HOUSTON 5.0% 02-15-32                                                                  | CUSIP: 914302NC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $16764210.00  | 0.73%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF HOUSTON                                                            | UNIVERSITY OF HOUSTON 5.0% 02-15-31                                                                  | CUSIP: 914302NB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5509430.00   | 0.24%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF TEXAS PERMANENT UNIVERSITY FUND                                    | PERMANENT UNIVERSITY FUND - UNIVERSITY OF TEXAS SYSTEM 2.0% 07-01-28                                 | CUSIP: 9151157T0<br>LEI: 549300GZUEUTLKVGLF98 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1223342.50   | 0.05%             | 2028-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF VIRGINIA                                                           | UNIVERSITY OF VIRGINIA 5.0% 04-01-39                                                                 | CUSIP: 915217WN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3048858.00   | 0.13%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF REGENTS OF THE UNIVERSITY OF TEXAS SYSTEM                               | BOARD OF REGENTS OF THE UNIVERSITY OF TEXAS SYSTEM 3.0% 08-15-32                                     | CUSIP: 91514AHP3<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500046.00    | 0.02%             | 2032-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UTAH (STATE OF)                                                                  | STATE OF UTAH 5.0% 07-01-26                                                                          | CUSIP: 917542VU3<br>LEI: 254900RWV9NSVUZONC07 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003868.00   | 0.04%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERMONT HSG FIN AGY                                                              | VERMONT HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.75% 11-01-50                                        | CUSIP: 924190TR2<br>LEI: 549300RD7EYN90K0W008 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150021.30    | 0.01%             | 2050-11-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FINANCING AUTHORITY                                   | LIFESPIRE OF VIRGINIA OBLIGATED GROUP 3.0% 12-01-26                                                  | CUSIP: 928103AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $234551.15    | 0.01%             | 2026-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FINANCING AUTHORITY                                   | ELIZABETH RIVER CROSSINGS OPCO LLC 4.0% 01-01-31                                                     | CUSIP: 928104NJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $812679.20    | 0.04%             | 2031-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA PORT AUTH COMWLTH PORT FD                                               | COMMONWEALTH OF VIRGINIA 5.0% 07-01-28                                                               | CUSIP: 928075JS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1680703.05   | 0.07%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FINANCING AUTHORITY                                   | ELIZABETH RIVER CROSSINGS OPCO LLC 4.0% 01-01-29                                                     | CUSIP: 928104NE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $617903.16    | 0.03%             | 2029-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERMONT ST STUDENT ASSISTANCE CORP                                               | VERMONT STUDENT ASSISTANCE CORP 5.25% 06-15-33                                                       | CUSIP: 92428CNH3<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |    700000 | PA      | $749980.70    | 0.03%             | 2033-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WHITING IND                                                                      | BP PRODUCTS NORTH AMERICA INC (MPT) 4.4% 11-01-45                                                    | CUSIP: 96634RAW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4176740.00   | 0.18%             | 2045-11-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| WHITING IND                                                                      | BP PRODUCTS NORTH AMERICA INC (MPT) 4.4% 03-01-46                                                    | CUSIP: 96634RAX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044191.00   | 0.05%             | 2046-03-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST ECONOMIC DEV AUTH                                               | KENTUCKY POWER CO (MPT) 4.7% 04-01-36                                                                | CUSIP: 95648VBP3<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1487940.30   | 0.06%             | 2036-04-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| WRIGHT ELEMENTARY SCHOOL DISTRICT                                                | WRIGHT ELEMENTARY SCHOOL DISTRICT NATL 0.0% 08-01-28                                                 | CUSIP: 982233BW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $299008.00    | 0.01%             | 2028-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN (STATE OF)                                                             | STATE OF WISCONSIN 5.0% 05-01-32                                                                     | CUSIP: 97705MR23<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1689076.50   | 0.07%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                                     | VIRGINIA ELECTRIC AND POWER CO (MPT) 3.125% 10-01-40                                                 | CUSIP: 977228AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $6981464.00   | 0.30%             | 2040-10-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| WILMINGTON HOUSING AUTHORITY                                                     | BRAD AVENUE FLATS LLC (MPT) 2.95% 05-01-44                                                           | CUSIP: 971696AK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2030000 | PA      | $2028840.87   | 0.09%             | 2044-05-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| WILLIS TEX INDPT SCH DIST                                                        | WILLIS INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                                             | CUSIP: 970667N49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3030000 | PA      | $3087215.49   | 0.13%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WICHITA KANS                                                                     | MARKET CENTRE APARTMENTS LP (MPT) 3.15% 02-01-30                                                     | CUSIP: 967276GD2<br>LEI: 549300Y20JVN3VP2V718 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1644572.32   | 0.07%             | 2030-02-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| WASHINGTON COUNTY COMMUNITY DEVELOPMENT AGENCY                                   | CB NEWPORT HOUSING LP HUD SECT 8 (MPT) 3.15% 02-01-46                                                | CUSIP: 93778DAE6<br>LEI: 5493005S0NC4J4L8DM18 | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2128219.38   | 0.09%             | 2046-02-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HSG DEV FD                                                      | HIGHLAWN TC SENIOR APARTMENTS LP HUD SECT 8 (MPT) 2.875% 11-01-28                                    | CUSIP: 956629AK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $753326.92    | 0.03%             | 2028-11-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| WASHINGTON SUBN SAN DIST MD                                                      | WASHINGTON SUBURBAN SANITARY COMMISSION CNTY GTD 5.0% 06-01-26                                       | CUSIP: 940158LH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3320000 | PA      | $3326596.84   | 0.14%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN (STATE OF)                                                             | STATE OF WISCONSIN 5.0% 05-01-29                                                                     | CUSIP: 97705MW68<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8573752.00   | 0.37%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN (STATE OF)                                                             | STATE OF WISCONSIN 5.0% 05-01-28                                                                     | CUSIP: 97705MW50<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   3630000 | PA      | $3806730.18   | 0.17%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON STATE HOUSING FINANCE COMMISSION                                      | WA ST SFM 17-1N PAC (100-500) SF 4.0% 12-01-47                                                       | CUSIP: 93978TXF1<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |     15000 | PA      | $15000.86     | 0.00%             | 2047-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE        | WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE FNMA COLL 4.0% 03-01-48    | CUSIP: 97689QFK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45109.62     | 0.00%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINANCE CORP                                            | IDEA PUBLIC SCHOOLS PSF-GTD 5.0% 08-15-28                                                            | CUSIP: 187145PQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $41939.44     | 0.00%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINANCE CORP                                            | IDEA PUBLIC SCHOOLS PSF-GTD 5.0% 08-15-26                                                            | CUSIP: 187145PN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $412361.19    | 0.02%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY GNMA COLL 3.25% 05-01-52                                      | CUSIP: 196480ZE0<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   3730000 | PA      | $3698317.38   | 0.16%             | 2052-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                                      | CONNECTICUT HOUSING FINANCE AUTHORITY 3.5% 11-15-51                                                  | CUSIP: 20775HSH7<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    500000 | PA      | $498294.00    | 0.02%             | 2051-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY GNMA 5.25% 11-01-52                                           | CUSIP: 196480F93<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   3350000 | PA      | $3465350.55   | 0.15%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WISCONSIN (STATE OF)                                                             | STATE OF WISCONSIN 5.0% 11-01-27                                                                     | CUSIP: 97705MJK2<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024844.00   | 0.04%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN (STATE OF)                                                             | STATE OF WISCONSIN 5.0% 11-01-27                                                                     | CUSIP: 97705MKP9<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1076086.20   | 0.05%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE        | WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE 4.0% 03-01-48              | CUSIP: 97689QHL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $140329.56    | 0.01%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON STATE HOUSING FINANCE COMMISSION                                      | WASHINGTON STATE HOUSING FINANCE COMMISSION 4.0% 12-01-48                                            | CUSIP: 93978TB99<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    655000 | PA      | $657473.28    | 0.03%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF COOK IL                                                                | COUNTY OF COOK IL 5.0% 11-15-29                                                                      | CUSIP: 213185MX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3005000 | PA      | $3229512.57   | 0.14%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA (STATE OF)                                                            | STATE OF CALIFORNIA 5.5% 12-01-52                                                                    | CUSIP: 13063DZ43<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    285000 | PA      | $298677.44    | 0.01%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON STATE HOUSING FINANCE COMMISSION                                      | WASHINGTON STATE HOUSING FINANCE COMMISSION 4.0% 06-01-49                                            | CUSIP: 93978TF46<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    175000 | PA      | $175754.25    | 0.01%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| YAVAPAI CNTY ARIZ INDL DEV AUTH                                                  | WASTE MANAGEMENT INC 1.3% 06-01-27                                                                   | CUSIP: 98521UAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $437095.80    | 0.02%             | 2027-06-01      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH                                                      | WASTE MANAGEMENT INC (MPT) 3.45% 10-01-41                                                            | CUSIP: 13048RAL1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   3110000 | PA      | $3128877.70   | 0.14%             | 2041-10-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| DEPARTMENT OF VETERANS AFFAIRS VETERAN'S FARM & HOME PURCHASE PROGRAM            | DEPARTMENT OF VETERANS AFFAIRS VETERAN'S FARM & HOME PURCHASE PROGRAM 5.5% 12-01-52                  | CUSIP: 130658ST5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1288385.88   | 0.06%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                                  | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.0% 07-01-53                                  | CUSIP: 13013JCB0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   6755000 | PA      | $7050693.37   | 0.31%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL WATERWORKS REVENUE                                            | CITY OF CHICAGO IL WATERWORKS REVENUE AG 5.0% 11-01-31                                               | CUSIP: 167736W29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1602708.69   | 0.07%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WASTEWATER TRANSMISSION                                               | CITY OF CHICAGO IL WASTEWATER TRANSMISSION REVENUE AG 5.0% 01-01-30                                  | CUSIP: 167727C87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1885000 | PA      | $2024088.50   | 0.09%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY GNMA COLL 6.0% 05-01-53                                       | CUSIP: 1964805D5<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1273174.78   | 0.06%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITY OF VALDEZ AK                                                                | EXXON MOBIL CORP FRN 12-01-33                                                                        | CUSIP: 919061DU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5700000 | PA      | $5700000.00   | 0.25%             | 2033-12-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HEALTH AND EDUCATION FACILITIES AUTHORITY ACT                      | TRUSTEES OF DARTMOUTH COLLEGE FRN 06-01-41                                                           | CUSIP: 644614RZ4<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |   1945000 | PA      | $1945000.00   | 0.08%             | 2041-06-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                                  | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.5% 05-01-54                                  | CUSIP: 13013JCS3<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1568340.00   | 0.07%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY                                 | REPUBLIC SERVICES INC (MPT) 2.875% 07-01-43                                                          | CUSIP: 130536RN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1542617.61   | 0.07%             | 2043-07-01      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                                      | CONNECTICUT HOUSING FINANCE AUTHORITY 5.75% 11-15-53                                                 | CUSIP: 20775HA45<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    850000 | PA      | $902812.20    | 0.04%             | 2053-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CARROLLTON TEX FMRS BRH INDPT SCH DIST                                           | CARROLLTON-FARMERS BRANCH INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                          | CUSIP: 145628P56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7131628.00   | 0.31%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                                  | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.0% 02-01-54                                  | CUSIP: 13013JDB9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2435000 | PA      | $2572799.09   | 0.11%             | 2054-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH                                                      | REPUBLIC SERVICES INC (MPT) 4.375% 09-01-53                                                          | CUSIP: 13048RAM9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   5080000 | PA      | $5286039.72   | 0.23%             | 2053-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CITY OF CHARLOTTE NC AIRPORT REVENUE                                             | CITY OF CHARLOTTE NC AIRPORT REVENUE 5.0% 07-01-28                                                   | CUSIP: 161036VT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521946.50    | 0.02%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | FLORIDA HOUSING FINANCE CORP GNMA/FNMA/FHLMC 4.25% 01-01-50                                          | CUSIP: 34074MSJ1<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    380000 | PA      | $381699.74    | 0.02%             | 2050-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CITY OF VALDEZ AK                                                                | EXXON MOBIL CORP FRN 12-01-29                                                                        | CUSIP: 919061EH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1400000.00   | 0.06%             | 2029-12-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                                                  | UST 2YR FUT TUM6 06-30-26                                                                            | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |       597 | NC      | $-144606.42   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| GOOSE CREEK TEX CONS INDPT SCH DIST                                              | GOOSE CREEK CONSOLIDATED INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                           | CUSIP: 3826042P0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1146243.38   | 0.05%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOOSE CREEK TEX CONS INDPT SCH DIST                                              | GOOSE CREEK CONSOLIDATED INDEPENDENT SCHOOL DISTRICT PSF-GTD (MPT) 0.6% 02-15-35                     | CUSIP: 3826043G9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $804206.07    | 0.03%             | 2035-02-15      | Fixed         | 0.60%                 | No            |                  2 | On Loan: No      |
| GUAM POWER AUTHORITY                                                             | GUAM POWER AUTHORITY 5.0% 10-01-28                                                                   | CUSIP: 400653JT9<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | GU        |   1000000 | PA      | $1036783.00   | 0.05%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF GEORGETOWN TX UTILITY SYSTEM REVENUE                                     | CITY OF GEORGETOWN TX UTILITY SYSTEM REVENUE AG 5.0% 08-15-26                                        | CUSIP: 373064N59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006138.00   | 0.04%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF BROWARD FL PORT FACILITIES REVENUE                                     | COUNTY OF BROWARD FL PORT FACILITIES REVENUE 5.0% 09-01-26                                           | CUSIP: 11506KGC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1543863.09   | 0.07%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH                                                           | GEORGIA POWER CO (MPT) 3.3% 12-01-49                                                                 | CUSIP: 121342QN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $950043.47    | 0.04%             | 2049-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| STATE OF GEORGIA                                                                 | STATE OF GEORGIA 4.0% 07-01-26                                                                       | CUSIP: 373385LR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10022730.00  | 0.44%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GREATER ORLANDO AVIATION AUTH FLA                                                | GREATER ORLANDO AVIATION AUTHORITY 5.0% 10-01-29                                                     | CUSIP: 392274Q25<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008919.00   | 0.04%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GERMANTOWN WIS SCH DIST                                                          | GERMANTOWN SCHOOL DISTRICT 3.0% 04-01-30                                                             | CUSIP: 374100KU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1401538.37   | 0.06%             | 2030-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GREATER TEXOMA UTIL AUTH TEX                                                     | CITY OF SHERMAN TX WATER & SEWER SYSTEM REVENUE BAM 5.0% 10-01-28                                    | CUSIP: 39239MDJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3360000 | PA      | $3534098.40   | 0.15%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGETOWN TEX INDPT SCH DIST                                                    | GEORGETOWN INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-28                                         | CUSIP: 373046C90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521880.00    | 0.02%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGETOWN TEX INDPT SCH DIST                                                    | GEORGETOWN INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                                         | CUSIP: 373046C82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509283.50    | 0.02%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRAZOS TEX HIGHER ED AUTH INC                                                    | BRAZOS HIGHER EDUCATION AUTHORITY INC 5.0% 04-01-30                                                  | CUSIP: 10623ACM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1884789.00   | 0.08%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BASELINE MET DISTRICT NO. 1                                                      | BASELINE METROPOLITAN DISTRICT NO 1 AG 5.0% 12-01-27                                                 | CUSIP: 069826AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034692.00   | 0.05%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEALTH EDUCATIONAL AND HOUSING FACILITY BOARD OF THE CITY OF MEMPHIS/THE         | APP SURREY PARTNERS LLLP HUD SECT 8 (MPT) 2.75% 04-01-29                                             | CUSIP: 586169GL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2162680.80   | 0.09%             | 2029-04-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN NASHVILLE AIRPORT AUTHORITY                                         | METROPOLITAN NASHVILLE AIRPORT AUTHORITY 5.0% 07-01-31                                               | CUSIP: 592190NW8<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1601956.50   | 0.07%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.5% 07-01-50                                       | CUSIP: 60416S4E7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    630000 | PA      | $628869.78    | 0.03%             | 2050-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GASTONIA HOUSING AUTHORITY                                                       | STONECROFT VILLAGE II LP HUD SECT 8 (MPT) 3.5% 05-01-28                                              | CUSIP: 367322AD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2024000 | PA      | $2033901.41   | 0.09%             | 2028-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GRAPEVINE-COLLEYVILLE INDPT SCH DIST TEX                                         | GRAPEVINE-COLLEYVILLE INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-26                              | CUSIP: 3886407E8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4615000 | PA      | $4646418.92   | 0.20%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN                                                        | MISSOURI HOUSING DEVELOPMENT COMMISSION GNMA/FNMA/FHLMC 3.5% 11-01-50                                | CUSIP: 60637BXS4<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1325795.87   | 0.06%             | 2050-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GEORGIA MUNICIPAL ELEC AUTH                                                      | POWERSOUTH ENERGY COOPERATIVE 5.0% 01-01-27                                                          | CUSIP: 6262076R0<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    200000 | PA      | $202098.40    | 0.01%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BASELINE MET DISTRICT NO. 1                                                      | BASELINE METROPOLITAN DISTRICT NO 1 AG 5.0% 12-01-29                                                 | CUSIP: 069826AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $429644.40    | 0.02%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST                                                       | BLACK BELT ENERGY GAS DISTRICT (MPT) 5.0% 10-01-55                                                   | CUSIP: 09182TEC7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047454.00   | 0.05%             | 2055-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREGORY PORTLAND TEX INDPT SCH DIST                                              | GREGORY-PORTLAND INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-33                                   | CUSIP: 397586TL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $2084259.95   | 0.09%             | 2033-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENDALE ARIZ INDL DEV AUTH                                                      | MIDWESTERN UNIVERSITY OBLIGATED GROUP 5.0% 05-15-30                                                  | CUSIP: 378286LK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078969.00   | 0.05%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENDALE ARIZ INDL DEV AUTH                                                      | MIDWESTERN UNIVERSITY OBLIGATED GROUP 5.0% 05-15-26                                                  | CUSIP: 378286LF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1160945.40   | 0.05%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENDALE ARIZ INDL DEV AUTH                                                      | MIDWESTERN UNIVERSITY OBLIGATED GROUP 5.0% 05-15-27                                                  | CUSIP: 378286LG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510935.50    | 0.02%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                                     | PRESIDENT AND FELLOWS OF HARVARD COLLEGE 5.0% 02-15-28                                               | CUSIP: 57585BTM0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   9335000 | PA      | $9748512.50   | 0.42%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                                     | PRESIDENT AND FELLOWS OF HARVARD COLLEGE 5.0% 02-15-31                                               | CUSIP: 57585BTQ1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   9105000 | PA      | $10088786.15  | 0.44%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                                     | PRESIDENT AND FELLOWS OF HARVARD COLLEGE 5.0% 02-15-33                                               | CUSIP: 57585BTR9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1235999.45   | 0.05%             | 2033-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTANA ST BRD HSG                                                               | HIDDEN CREEK 4 HOUSING ASSOCIATES LLLP (MPT) 3.05% 11-01-46                                          | CUSIP: 61212VBB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $685441.83    | 0.03%             | 2046-11-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| MONTANA ST BRD HSG                                                               | MONTANA BOARD OF HOUSING FHA INS HUD VA 4.25% 12-01-45                                               | CUSIP: 61213TBD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $591902.16    | 0.03%             | 2045-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA                                                   | MAIN STREET NATURAL GAS INC 5.0% 05-15-26                                                            | CUSIP: 56035DBF8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3002121.00   | 0.13%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOOSE CREEK TEX CONS INDPT SCH DIST                                              | GOOSE CREEK CONSOLIDATED INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-28                           | CUSIP: 3826043X2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $600059.08    | 0.03%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF GEORGIA                                                                 | STATE OF GEORGIA 5.0% 12-01-27                                                                       | CUSIP: 3733846W1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $760493.25    | 0.03%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVERNMENT NASHVILLE & DAVIDSON COUNTY HEALTH & EDUCATIONAL FACS BD | VANDERBILT UNIVERSITY MEDICAL CENTER OBLIGATED GROUP 5.0% 07-01-32                                   | CUSIP: 592041A72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5525000 | PA      | $6112495.35   | 0.27%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | CKG TRUMBULL 4 2023 LTD DIVIDEND HOUSING ASSOCIATION LLC (MPT) 4.0% 10-01-29                         | CUSIP: 59465FAM2<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    700000 | PA      | $714389.90    | 0.03%             | 2029-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                                 | BANNER HEALTH OBLIGATED GROUP 5.0% 01-01-33                                                          | CUSIP: 56682HEJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2875000 | PA      | $3150108.75   | 0.14%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                                 | BANNER HEALTH OBLIGATED GROUP 5.0% 01-01-38                                                          | CUSIP: 56682HCC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $395904.21    | 0.02%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST                                                       | BLACK BELT ENERGY GAS DISTRICT (MPT) 5.0% 03-01-55                                                   | CUSIP: 09182TEN3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   8045000 | PA      | $8575905.64   | 0.37%             | 2055-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BREVARD COUNTY HOUSING FINANCE AUTHORITY                                         | EMERALD PLACE FLORIDA LP (MPT) 3.3% 02-01-28                                                         | CUSIP: 106904FY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1287537.88   | 0.06%             | 2028-02-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINESS FINANCE CORP                                                | CHEVRON USA INC FRN 12-01-30                                                                         | CUSIP: 60528ABL7<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2100000.00   | 0.09%             | 2030-12-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY MD HSG OPPNTYS COMMN                                             | MONTGOMERY COUNTY HOUSING OPPORTUNITIES COMMISSION SINGLE FAMILY REVENUE 4.0% 07-01-48               | CUSIP: 6133493W7<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |    775000 | PA      | $775096.88    | 0.03%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF GEORGIA                                                                 | STATE OF GEORGIA 5.0% 02-01-27                                                                       | CUSIP: 373384Z82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001953.00   | 0.04%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA ST HSG & FIN AUTH                                                        | GEORGIA HOUSING & FINANCE AUTHORITY 4.0% 12-01-47                                                    | CUSIP: 3735396T7<br>LEI: 549300I628IMF9PWV724 | Long             | DBT              | MUN               | US        |     70000 | PA      | $70012.88     | 0.00%             | 2047-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GREATER ORLANDO AVIATION AUTH FLA                                                | GREATER ORLANDO AVIATION AUTHORITY 5.0% 10-01-30                                                     | CUSIP: 392274W36<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1057173.73   | 0.05%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WATER AUTHORITY SEWAGE DISPOSAL SYSTEM REVENUE                       | GREAT LAKES WATER AUTHORITY SEWAGE DISPOSAL SYSTEM REVENUE 5.0% 07-01-28                             | CUSIP: 39081HBY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $226057.88    | 0.01%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPARTMENT OF WATER & POWER WATER SYSTEM REVENUE                     | LOS ANGELES DEPARTMENT OF WATER & POWER WATER SYSTEM REVENUE 5.0% 07-01-30                           | CUSIP: 544525R42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $232400.38    | 0.01%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA HSG FIN AGY                                                            | LOUISIANA HOUSING CORP GNMA/FNMA/FHLMC COLL 5.75% 06-01-54                                           | CUSIP: 54627DLR0<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |    550000 | PA      | $592679.45    | 0.03%             | 2054-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER AUTHORITY                                                   | LOWER COLORADO RIVER AUTHORITY (MPT) 5.0% 05-15-39                                                   | CUSIP: 54811GM49<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1657308.80   | 0.07%             | 2039-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 5.0% 12-01-26                               | CUSIP: 646080UD1<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1036985.33   | 0.05%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 3.0% 12-01-32                               | CUSIP: 646080UK5<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2444520.00   | 0.11%             | 2032-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 3.0% 12-01-34                               | CUSIP: 646080UM1<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1412238.00   | 0.06%             | 2034-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 4.0% 01-01-50                                  | CUSIP: 65821FHT6<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    595000 | PA      | $598221.93    | 0.03%             | 2050-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH                                                           | GEORGIA POWER CO (MPT) 2.9% 12-01-49                                                                 | CUSIP: 121342QR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6155000 | PA      | $6111127.16   | 0.27%             | 2049-12-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| BRAZOS TEX HIGHER ED AUTH INC                                                    | BRAZOS HIGHER EDUCATION AUTHORITY INC 5.0% 04-01-27                                                  | CUSIP: 10623ACT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $758899.50    | 0.03%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRAZOS TEX HIGHER ED AUTH INC                                                    | BRAZOS HIGHER EDUCATION AUTHORITY INC 5.0% 04-01-28                                                  | CUSIP: 10623ACU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1435833.00   | 0.06%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRAZOS TEX HIGHER ED AUTH INC                                                    | BRAZOS HIGHER EDUCATION AUTHORITY INC 4.5% 04-01-46                                                  | CUSIP: 10623ADB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2145000 | PA      | $2150128.70   | 0.09%             | 2046-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE                      | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE 5.0% 10-01-26                            | CUSIP: 592647EC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008502.00   | 0.04%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE                      | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE 5.0% 10-01-28                            | CUSIP: 592647EE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1413997.75   | 0.06%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY                            | RWJ BARNABAS HEALTH OBLIGATED GROUP (MPT) 5.0% 07-01-45                                              | CUSIP: 645790MD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003631.00   | 0.04%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 3.75% 07-01-50                                                   | CUSIP: 658909XE1<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    280000 | PA      | $280035.56    | 0.01%             | 2050-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 08-01-27                                                                    | CUSIP: 64966QGQ7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029482.00   | 0.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY 4.0% 07-01-50                                                  | CUSIP: 658207ZW8<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1771454.08   | 0.08%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 3.5% 12-01-39                               | CUSIP: 646080UX7<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1330020.16   | 0.06%             | 2039-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 3.5% 12-01-39                               | CUSIP: 646080VF5<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    805000 | PA      | $785038.42    | 0.03%             | 2039-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST                                                       | BLACK BELT ENERGY GAS DISTRICT (MPT) 5.0% 12-01-55                                                   | CUSIP: 09182TFT9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1960000 | PA      | $2079115.08   | 0.09%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BARSTOW UNIFIED SCHOOL DISTRICT                                                  | BARSTOW UNIFIED SCHOOL DISTRICT NATL 0.0% 08-01-28                                                   | CUSIP: 069077DW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $942101.00    | 0.04%             | 2028-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BEXAR MANAGEMENT AND DEVELOPMENT CORP                                            | MILLER'S POND APARTMENTS SA LP FHA 221(D4) (MPT) 2.65% 03-01-29                                      | CUSIP: 08857CAC4<br>LEI: 2549009KNEM1RHMCBG65 | Long             | DBT              | MUN               | US        |    455000 | PA      | $451179.37    | 0.02%             | 2029-03-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST                                                       | BLACK BELT ENERGY GAS DISTRICT 5.0% 07-01-33                                                         | CUSIP: 09182THJ9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   5020000 | PA      | $5276547.10   | 0.23%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE                      | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE 5.0% 10-01-27                            | CUSIP: 592647ED9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028572.00   | 0.04%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY                                                     | MASSACHUSETTS HOUSING FINANCE AGENCY FNMA COLL 4.0% 06-01-43                                         | CUSIP: 57587AWC8<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    150000 | PA      | $149976.90    | 0.01%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND (STATE OF)                                                              | STATE OF MARYLAND 5.0% 08-01-28                                                                      | CUSIP: 574193PP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1582733.90   | 0.07%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY 3.5% 06-01-48                                           | CUSIP: 594654BE4<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    545000 | PA      | $544363.44    | 0.02%             | 2048-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BEXAR CNTY TEX                                                                   | COUNTY OF BEXAR TX 5.0% 06-15-43                                                                     | CUSIP: 088281B33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8021944.00   | 0.35%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARROLL CNTY KY                                                                  | KENTUCKY UTILITIES CO (MPT) 1.75% 10-01-34                                                           | CUSIP: 14483RAR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1982488.00   | 0.09%             | 2034-10-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| NACOGDOCHES TEX INDPT SCH DIST                                                   | NACOGDOCHES INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                                        | CUSIP: 629649SM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $1002744.78   | 0.04%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY                                                  | NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY 3.5% 04-01-51                                           | CUSIP: 64613ACX8<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    750000 | PA      | $749262.75    | 0.03%             | 2051-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVESTMENT FINANCE AUTHORITY                                            | NEBRASKA INVESTMENT FINANCE AUTHORITY GNMA/FNMA/FHLMC 3.0% 09-01-50                                  | CUSIP: 63968MXD6<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |    245000 | PA      | $242148.69    | 0.01%             | 2050-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.0% 07-01-51                                  | CUSIP: 658207D28<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    165000 | PA      | $163252.16    | 0.01%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 3.0% 07-01-51                                                    | CUSIP: 658909ZR0<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    875000 | PA      | $864878.88    | 0.04%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORPORATION                                  | JFK INTERNATIONAL AIR TERMINAL LLC 5.0% 12-01-29                                                     | CUSIP: 650116DJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057652.00   | 0.05%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY                                        | NEW JERSEY-AMERICAN WATER CO INC (MPT) 1.1% 11-01-29                                                 | CUSIP: 645780FR3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2207668.88   | 0.10%             | 2029-11-01      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| DORMITORY AUTHORITY OF STATE OF NEW YORK                                         | STATE OF NEW YORK PERSONAL INCOME TAX REVENUE 5.0% 03-15-27                                          | CUSIP: 64990F2D5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1599090.40   | 0.07%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARROLL CNTY KY                                                                  | KENTUCKY UTILITIES CO (MPT) 1.55% 09-01-42                                                           | CUSIP: 144838AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1980662.00   | 0.09%             | 2042-09-01      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY                                 | PROVIDENCE ST JOSEPH HEALTH OBLIGATED GROUP (MPT) 5.0% 10-01-39                                      | CUSIP: 13032UUP1<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025066.00   | 0.04%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 6.0% 07-01-53                                  | CUSIP: 658207T88<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    340000 | PA      | $360584.62    | 0.02%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 5.75% 07-01-53                                                   | CUSIP: 658909X68<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1602950.30   | 0.07%             | 2053-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW HOPE HIGHER EDUCATION FINANCE CORP                                           | TEXAS CHRISTIAN UNIVERSITY 5.0% 03-15-29                                                             | CUSIP: 645438CC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $399094.50    | 0.02%             | 2029-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 02-01-29                | CUSIP: 64972JB23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $887878.88    | 0.04%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSPORTATION AUTHORITY                                            | METROPOLITAN TRANSPORTATION AUTHORITY 5.0% 11-15-28                                                  | CUSIP: 59261APY7<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3490000 | PA      | $3645863.40   | 0.16%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 4.0% 01-01-48                                       | CUSIP: 60416SWD8<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100301.40    | 0.00%             | 2048-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA DEPARTMENT OF WATER RESOURCES                                         | STATE OF CALIFORNIA DEPARTMENT OF WATER RESOURCES 5.0% 12-01-33                                      | CUSIP: 13067WMB5<br>LEI: 549300X618YEC5LGBQ98 | Long             | DBT              | MUN               | US        |    230000 | PA      | $233346.27    | 0.01%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL FLORIDA EXRESSWAY AUTH                                                   | CENTRAL FLORIDA EXPRESSWAY AUTHORITY 4.0% 07-01-35                                                   | CUSIP: 153476BQ8<br>LEI: 549300JL23Z3Z64M6K65 | Long             | DBT              | MUN               | US        |   8645000 | PA      | $8662609.87   | 0.38%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 02-01-28                | CUSIP: 64972JA99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $906915.84    | 0.04%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTG FIN AUTH                                                          | JLG NM ABQ 2023 LLLP HUD SECT 8 (MPT) 2.92% 02-01-42                                                 | CUSIP: 64719HET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $489999.51    | 0.02%             | 2042-02-01      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST ENVIRONMENTAL FACS CORP                                              | NEW YORK CITY WATER & SEWER SYSTEM 5.0% 06-15-28                                                     | CUSIP: 64986DQN8<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1265617.20   | 0.06%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 6.25% 07-01-57                                 | CUSIP: 65820BEQ5<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    750000 | PA      | $854266.50    | 0.04%             | 2057-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DORMITORY AUTHORITY OF STATE OF NEW YORK                                         | STATE OF NEW YORK PERSONAL INCOME TAX REVENUE 5.0% 03-15-28                                          | CUSIP: 64990KJQ7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2823298.20   | 0.12%             | 2028-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                                   | NEW YORK CITY HOUSING DEVELOPMENT CORP HUD SECT 8 (MPT) 3.125% 11-01-65                              | CUSIP: 64972KQL2<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2324037.53   | 0.10%             | 2065-11-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRUST FOR CULTURAL RESOURCES (NY)                                  | LINCOLN CENTER FOR THE PERFORMING ARTS INC 5.0% 12-01-30                                             | CUSIP: 649717WD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5436070.00   | 0.24%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY                            | RWJ BARNABAS HEALTH OBLIGATED GROUP 5.0% 07-01-31                                                    | CUSIP: 645790VC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2670000 | PA      | $2928076.86   | 0.13%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-32                | CUSIP: 64971WU99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1470000 | PA      | $1502816.28   | 0.07%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY                            | HACKENSACK MERIDIAN HEALTH OBLIGATED GROUP 5.0% 07-01-37                                             | CUSIP: 645790KC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1153041.83   | 0.05%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY                            | HACKENSACK MERIDIAN HEALTH OBLIGATED GROUP 5.0% 07-01-39                                             | CUSIP: 645790KE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1487118.04   | 0.06%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY                            | HACKENSACK MERIDIAN HEALTH OBLIGATED GROUP 5.0% 07-01-38                                             | CUSIP: 645790KD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4735000 | PA      | $4827152.57   | 0.21%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY 4.0% 07-01-47                                                  | CUSIP: 658207TZ8<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600493.20    | 0.03%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY FHA INS 4.0% 01-01-48                                            | CUSIP: 658909NJ1<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    170000 | PA      | $170128.18    | 0.01%             | 2048-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVESTMENT FINANCE AUTHORITY                                            | NEBRASKA INVESTMENT FINANCE AUTHORITY GNMA/FNMA/FHLMC 3.5% 03-01-40                                  | CUSIP: 63968MQC6<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |     25000 | PA      | $24891.03     | 0.00%             | 2040-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | OHIO HOUSING FINANCE AGENCY 3.0% 03-01-52                                                            | CUSIP: 67756QL96<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1084903.60   | 0.05%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY 4.0% 12-01-48                                           | CUSIP: 594654CM5<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1136809.19   | 0.05%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-30                | CUSIP: 64972JSN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1207746.10   | 0.05%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | OHIO HOUSING FINANCE AGENCY FNMA/GNMA/FHLMC 3.25% 03-01-51                                           | CUSIP: 67756QQ59<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1940646.96   | 0.08%             | 2051-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| OREGON (STATE OF)                                                                | STATE OF OREGON 3.0% 12-01-51                                                                        | CUSIP: 68609T5J3<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1745254.40   | 0.08%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE PUBLIC WORKS BOARD                                              | STATE OF CALIFORNIA 4.0% 11-01-31                                                                    | CUSIP: 13068LYY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1568034.00   | 0.07%             | 2031-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE                                | CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE 5.0% 11-15-27                                      | CUSIP: 249182QC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1995000 | PA      | $2060116.80   | 0.09%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE                                | CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE 5.0% 11-15-29                                      | CUSIP: 249182QE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2137578.00   | 0.09%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENTON TEX INDPT SCH DIST                                                        | DENTON INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-27                                             | CUSIP: 249002LJ3<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1697006.85   | 0.07%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE (STATE OF)                                                              | STATE OF DELAWARE 5.0% 05-01-28                                                                      | CUSIP: 246381TD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1443318.25   | 0.06%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HOUSING FINANCE AGENCY                                      | BARRY FARM BUILDING 1A LLC (MPT) 5.0% 12-01-28                                                       | CUSIP: 25477TAX5<br>LEI: 254900LDUO9JUAQY0P45 | Long             | DBT              | MUN               | US        |    695000 | PA      | $716380.29    | 0.03%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-31                | CUSIP: 64972JSP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1560158.60   | 0.07%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 02-01-30                                                                    | CUSIP: 64966SLL8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1243322.50   | 0.05%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF DALLAS HOUSING FINANCE CORP                                              | MONDELLO APARTMENTS LLC FHA 221(D4) (MPT) 5.0% 08-01-27                                              | CUSIP: 235298BV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $482248.32    | 0.02%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA (WASHINGTON DC)                                             | DISTRICT OF COLUMBIA 5.0% 08-01-30                                                                   | CUSIP: 25476FD21<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    490000 | PA      | $536437.30    | 0.02%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DICKSON HEALTH & EDUCATIONAL FACILITIES BOARD/TN                                 | DICKSON HEALTH & EDUCATIONAL FACILITIES BOARD (MPT) 3.0% 04-01-28                                    | CUSIP: 253514AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6495000 | PA      | $6491395.28   | 0.28%             | 2028-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HOUSING FINANCE AGENCY                                      | BCP II LLC (MPT) 5.0% 03-01-29                                                                       | CUSIP: 25477TBB2<br>LEI: 254900LDUO9JUAQY0P45 | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1640603.34   | 0.07%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA DEPARTMENT OF TRANSPORTATION STATE HIGHWAY FUND REVENUE                  | ARIZONA DEPARTMENT OF TRANSPORTATION STATE HIGHWAY FUND REVENUE 5.0% 07-01-33                        | CUSIP: 040654YW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1139353.00   | 0.05%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMELIA CNTY VA INDL DEV AUTH                                                     | WASTE MANAGEMENT INC 1.45% 04-01-27                                                                  | CUSIP: 023445AA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $561669.78    | 0.02%             | 2027-04-01      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| ALABAMA FEDERAL AID HIGHWAY FINANCE AUTHORITY                                    | ALABAMA FEDERAL AID HIGHWAY FINANCE AUTHORITY 5.0% 09-01-33                                          | CUSIP: 010268AX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1511122.50   | 0.07%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANTELOPE VLY CA CCD                                                              | ANTELOPE VALLEY COMMUNITY COLLEGE DISTRICT 4.0% 08-01-46                                             | CUSIP: 03667PFF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4048744.00   | 0.18%             | 2046-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHSIDE TEX INDPT SCH DIST                                                     | NORTHSIDE INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-29                                          | CUSIP: 66702RP30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1076881.00   | 0.05%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY                                         | NOVANT HEALTH OBLIGATED GROUP 5.0% 06-01-31                                                          | CUSIP: 63607YCK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $712546.56    | 0.03%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DECATUR HOUSING AUTHORITY                                                        | PHG PHILIPS LP (MPT) 3.25% 09-01-28                                                                  | CUSIP: 24311PAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1051881.60   | 0.05%             | 2028-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DELAWARE (STATE OF)                                                              | STATE OF DELAWARE 5.0% 07-01-28                                                                      | CUSIP: 246381QG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1059302.16   | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA FEDERAL AID HIGHWAY FINANCE AUTHORITY                                    | ALABAMA FEDERAL AID HIGHWAY FINANCE AUTHORITY 4.0% 06-01-37                                          | CUSIP: 010268BY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1811705.36   | 0.08%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                         | PHOENIX CHILDREN'S HOSPITAL FRN 02-01-48                                                             | CUSIP: 04052EAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2425000 | PA      | $2425000.00   | 0.11%             | 2048-02-01      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| BOERNE TEX INDPT SCH DIST                                                        | BOERNE INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-01-27                                             | CUSIP: 097067MJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1220419.20   | 0.05%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST                                                       | BLACK BELT ENERGY GAS DISTRICT (MPT) 4.0% 10-01-52                                                   | CUSIP: 09182TAF4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  13500000 | PA      | $13564800.00  | 0.59%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY                                         | NOVANT HEALTH OBLIGATED GROUP 5.0% 06-01-32                                                          | CUSIP: 63607YCL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2720112.50   | 0.12%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 4.5% 12-01-45                               | CUSIP: 646080YX3<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   4180000 | PA      | $4225256.86   | 0.18%             | 2045-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA INCOME TAX REV                                                 | DISTRICT OF COLUMBIA INCOME TAX REVENUE 5.0% 06-01-31                                                | CUSIP: 25477GXX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1989299.78   | 0.09%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF DALLAS HOUSING FINANCE CORP                                              | PALLADIUM BUCKNER STATION LTD (MPT) 3.05% 08-01-30                                                   | CUSIP: 235298CE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2901452.90   | 0.13%             | 2030-08-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 5.0% 12-01-31                               | CUSIP: 646080YS4<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072269.00   | 0.05%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST ED ASSISTANCE AUTH                                             | NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY 5.0% 06-01-45                                    | CUSIP: 658262HC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1648924.80   | 0.07%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BARTOW CNTY GA DEV AUTH                                                          | GEORGIA POWER CO 1.8% 09-01-29                                                                       | CUSIP: 069643BL7<br>LEI: 5493006KLI0V8YELKW50 | Long             | DBT              | MUN               | US        |    560000 | PA      | $521414.88    | 0.02%             | 2029-09-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| CLOVIS CALIF UNI SCH DIST                                                        | CLOVIS UNIFIED SCHOOL DISTRICT NATL 0.0% 08-01-27                                                    | CUSIP: 189342TP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1308398.40   | 0.06%             | 2027-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTHORITY                                                 | NEW JERSEY TURNPIKE AUTHORITY 5.0% 01-01-30                                                          | CUSIP: 646140JM6<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   2185000 | PA      | $2366829.15   | 0.10%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO (STATE OF)                                                            | STATE OF NEW MEXICO 5.0% 03-01-27                                                                    | CUSIP: 647293TB5<br>LEI: 549300H4YLM23QKOGK29 | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2268345.23   | 0.10%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CANYONS MET DIST NO 5 COLO                                                       | CANYONS METROPOLITAN DISTRICT NO 5 BAM 5.0% 12-01-33                                                 | CUSIP: 139071AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $279289.50    | 0.01%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY                     | CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY 5.25% 11-15-29                          | CUSIP: 207743YC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1673244.45   | 0.07%             | 2029-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY                     | CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY 5.25% 11-15-30                          | CUSIP: 207743YD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1840000 | PA      | $1953544.56   | 0.08%             | 2030-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINANCE CORP                                            | INTERNATIONAL LEADERSHIP OF TEXAS INC PSF-GTD (MPT) 4.0% 02-15-55                                    | CUSIP: 187145UT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $777176.25    | 0.03%             | 2055-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENTON TEX INDPT SCH DIST                                                        | DENTON INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-27                                             | CUSIP: 249002NP7<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |   2275000 | PA      | $2339812.48   | 0.10%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DURHAM HOUSING AUTHORITY                                                         | PAGE ROAD APARTMENTS LP (MPT) 3.15% 07-01-59                                                         | CUSIP: 266785AV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2215000 | PA      | $2219757.82   | 0.10%             | 2059-07-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                                   | NEW YORK CITY HOUSING DEVELOPMENT CORP (MPT) 3.75% 05-01-65                                          | CUSIP: 64972KLH6<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   4505000 | PA      | $4556100.22   | 0.20%             | 2065-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 05-01-30                | CUSIP: 64972JVR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2537425.92   | 0.11%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HOUSING FINANCE AGENCY                                      | BARRY FARM BUILDING 1A LLC (MPT) 3.15% 02-01-30                                                      | CUSIP: 25477PQJ7<br>LEI: 254900LDUO9JUAQY0P45 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002991.00   | 0.04%             | 2030-02-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| INLIVIAN                                                                         | CENTRAL AT OLD CONCORD LP (MPT) 3.3% 11-10-43                                                        | CUSIP: 45753CAU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1915000 | PA      | $1928646.29   | 0.08%             | 2043-11-10      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINANCE CORP                                            | IDEA PUBLIC SCHOOLS PSF-GTD 5.0% 08-15-27                                                            | CUSIP: 187145VT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1694465.85   | 0.07%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACILITIES AUTHORITY                                             | UNIVERSITY OF COLORADO HEALTH OBLIGATED GROUP 5.0% 09-01-46                                          | CUSIP: 19648FBC7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125947.88    | 0.01%             | 2046-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | MIDWESTERN UNIVERSITY FOUNDATION 5.0% 07-01-31                                                       | CUSIP: 45204FJ97<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    190000 | PA      | $200123.58    | 0.01%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | MIDWESTERN UNIVERSITY FOUNDATION 4.25% 07-01-41                                                      | CUSIP: 45204FK46<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    470000 | PA      | $472241.43    | 0.02%             | 2041-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE CMNTYS DEV AUTH                                             | CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 5.0% 10-01-28                                 | CUSIP: 13080S2U7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |  15500000 | PA      | $16269048.00  | 0.71%             | 2028-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE CMNTYS DEV AUTH                                             | CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 5.0% 10-01-32                                 | CUSIP: 13080S2W3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3331005.00   | 0.14%             | 2032-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                                  | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.0% 12-01-55                                  | CUSIP: 13013JHD1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1368394.29   | 0.06%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACILITIES AUTHORITY                                             | COMMONSPIRIT HEALTH OBLIGATED GROUP 5.0% 09-01-32                                                    | CUSIP: 19648FB60<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1768636.52   | 0.08%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVESTMENT FINANCE AUTHORITY                                            | NEBRASKA INVESTMENT FINANCE AUTHORITY GNMA/FNMA/FHLMC 3.5% 09-01-46                                  | CUSIP: 63968MNY1<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |     30000 | PA      | $29960.73     | 0.00%             | 2046-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FINANCE AUTH BUILDING AID REV                     | STATE OF NEW YORK ST AID WITHHLDG 5.0% 07-15-30                                                      | CUSIP: 64972LAX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3520000 | PA      | $3865459.84   | 0.17%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | MIDWESTERN UNIVERSITY FOUNDATION 5.0% 07-01-29                                                       | CUSIP: 45204FJ71<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    270000 | PA      | $281193.93    | 0.01%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOSHUA TEX INDPT SCH DIST                                                        | JOSHUA INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-29                                             | CUSIP: 481052VB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $537294.00    | 0.02%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEXAS HIGHER EDUCATION AUTHORITY INC                                       | NORTH TEXAS HIGHER EDUCATION AUTHORITY INC 4.5% 06-01-46                                             | CUSIP: 66286UAL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1380000 | PA      | $1382967.00   | 0.06%             | 2046-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NORTH TEXAS HIGHER EDUCATION AUTHORITY INC                                       | NORTH TEXAS HIGHER EDUCATION AUTHORITY INC 5.0% 06-01-32                                             | CUSIP: 66286UAJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $237087.68    | 0.01%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE HOUSING FINANCE AUTHORITY                                           | EGRET LANDING LLC (MPT) 3.4% 07-01-58                                                                | CUSIP: 46940YBU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1403745.00   | 0.06%             | 2058-07-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE HOUSING FINANCE AUTHORITY                                           | ABILITY LF LLC (MPT) 3.15% 01-01-46                                                                  | CUSIP: 46940YBV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5170000 | PA      | $5182806.09   | 0.23%             | 2046-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| COMAL TEX INDPT SCH DIST                                                         | COMAL INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-01-27                                              | CUSIP: 199821AZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3725000 | PA      | $3792575.23   | 0.16%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE PUBLIC WORKS BOARD                                              | STATE OF CALIFORNIA 5.0% 11-01-27                                                                    | CUSIP: 13068XQU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1609272.00   | 0.07%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN NASHVILLE AIRPORT AUTHORITY                                         | METROPOLITAN NASHVILLE AIRPORT AUTHORITY 5.0% 07-01-26                                               | CUSIP: 592190QF2<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |    560000 | PA      | $561559.60    | 0.02%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN NASHVILLE AIRPORT AUTHORITY                                         | METROPOLITAN NASHVILLE AIRPORT AUTHORITY 5.0% 07-01-28                                               | CUSIP: 592190QH8<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1330963.58   | 0.06%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONROE INDEPENDENT SCHOOL DISTRICT                                               | CONROE INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                                             | CUSIP: 2084185Q2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1100820.24   | 0.05%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHARLOTTE NC                                                             | CITY OF CHARLOTTE NC 5.0% 07-01-27                                                                   | CUSIP: 161035PU8<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |   2465000 | PA      | $2535637.04   | 0.11%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN NASHVILLE AIRPORT AUTHORITY                                         | METROPOLITAN NASHVILLE AIRPORT AUTHORITY 5.0% 07-01-29                                               | CUSIP: 592190QJ4<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1915000 | PA      | $2031510.52   | 0.09%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC COLL 5.5% 01-01-54                             | CUSIP: 658207X42<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1953483.65   | 0.08%             | 2054-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COLTON CALIF JT UNI SCH DIST                                                     | COLTON JOINT UNIFIED SCHOOL DISTRICT BAM 0.0% 08-01-31                                               | CUSIP: 197036QX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $483084.04    | 0.02%             | 2031-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CITY OF COLORADO SPRINGS CO                                                      | BRADLEY RIDGE APARTMENTS LP (MPT) 3.15% 12-01-45                                                     | CUSIP: 196623AD4<br>LEI: 2549003N3PXBHQH2V448 | Long             | DBT              | MUN               | US        |   2610000 | PA      | $2616595.47   | 0.11%             | 2045-12-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| CUYAHOGA OHIO MET HSG AUTH                                                       | WADE PARK LP HUD SECT 8 (MPT) 3.32% 12-01-27                                                         | CUSIP: 23239TAH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2770000 | PA      | $2770975.04   | 0.12%             | 2027-12-01      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH                                                      | PALMDALE FAMILY HOUSING LP (MPT) 2.95% 01-01-56                                                      | CUSIP: 130483KM1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   7960000 | PA      | $7963741.20   | 0.35%             | 2056-01-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CAPITAL AREA HOUSING FINANCE CORP                                                | LDG REDWOOD LP (MPT) 3.2% 01-01-41                                                                   | CUSIP: 139726CX9<br>LEI: 549300XICE1XLI0VXV87 | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1319969.64   | 0.06%             | 2041-01-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| COLORADO STATE EDUCATION LOAN                                                    | COLORADO STATE EDUCATION LOAN PROGRAM 5.0% 06-30-26                                                  | CUSIP: 19672MDH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8850000 | PA      | $8881222.80   | 0.39%             | 2026-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH                                                      | REPUBLIC SERVICES INC (MPT) 2.8% 03-01-56                                                            | CUSIP: 13048RAT4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1264165.10   | 0.05%             | 2056-03-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| INDIANA SECONDARY MKT EDL LNS INC                                                | INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 5.0% 06-01-29                                       | CUSIP: 45505NAF1<br>LEI: 549300M19IK303TD4597 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1266723.50   | 0.06%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA SECONDARY MKT EDL LNS INC                                                | INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 5.0% 06-01-28                                       | CUSIP: 45505NAE4<br>LEI: 549300M19IK303TD4597 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1383432.75   | 0.06%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY                                | INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC COLL 5.75% 07-01-53                | CUSIP: 45505TB83<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1715613.25   | 0.07%             | 2053-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPARTMENT OF WATER & POWER WATER SYSTEM REVENUE                     | LOS ANGELES DEPARTMENT OF WATER & POWER WATER SYSTEM REVENUE 5.0% 07-01-31                           | CUSIP: 544525Z27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1917020.00   | 0.08%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPARTMENT OF WATER & POWER WATER SYSTEM REVENUE                     | LOS ANGELES DEPARTMENT OF WATER & POWER WATER SYSTEM REVENUE 5.0% 07-01-33                           | CUSIP: 544525Z43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $564604.14    | 0.02%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HSG FIN AUTH                                                    | NEW HAMPSHIRE HOUSING FINANCE AUTHORITY GNMA/FNMA/FHLMC 6.25% 07-01-56                               | CUSIP: 64469HAD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3295000 | PA      | $3725906.92   | 0.16%             | 2056-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 10-01-32                                                                    | CUSIP: 64966SQU3<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4483360.00   | 0.20%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK REDEVELOPMENT & HOUSING AUTHORITY                                        | STANDARD BRAYWOOD MANOR VENTURE LP HUD SECT 8 (MPT) 5.0% 05-01-43                                    | CUSIP: 655904BX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2280000.00   | 0.10%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY                                        | STATE OF NEW JERSEY 5.0% 03-01-28                                                                    | CUSIP: 64577XEQ5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3150000 | PA      | $3275218.80   | 0.14%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 4.0% 12-01-44                               | CUSIP: 646080XK2<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   5535000 | PA      | $5354226.90   | 0.23%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY                                                  | NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY 5.5% 04-01-53                                           | CUSIP: 64613AHJ4<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    885000 | PA      | $947621.72    | 0.04%             | 2053-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPARTMENT OF WATER & POWER                                    | LOS ANGELES DEPARTMENT OF WATER & POWER POWER SYSTEM REVENUE 5.0% 07-01-30                           | CUSIP: 544532QE7<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   6610000 | PA      | $7084095.64   | 0.31%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER ALA GAS DIST ALA GAS SUPPLY REV                                            | LOWER ALABAMA GAS DISTRICT 5.0% 12-01-33                                                             | CUSIP: 547804AQ7<br>LEI: 549300YTI1NTDG2OVU42 | Long             | DBT              | MUN               | US        |   2435000 | PA      | $2547677.19   | 0.11%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA HSG FIN AGY                                                            | CAPSTONE AT COVINGTON PLACE LP (MPT) 3.1% 05-01-43                                                   | CUSIP: 54627CCF8<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1375376.75   | 0.06%             | 2043-05-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| LOUISIANA HSG FIN AGY                                                            | NSAEB 603 LLC FHA 221(D4) (MPT) 3.15% 04-01-30                                                       | CUSIP: 54627CCH4<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |   6010000 | PA      | $6007271.46   | 0.26%             | 2030-04-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY                                                          | NEW YORK STATE HOUSING FINANCE AGENCY SONYMA (MPT) 3.2% 05-01-65                                     | CUSIP: 64987J7A3<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   5335000 | PA      | $5341113.91   | 0.23%             | 2065-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| DORMITORY AUTHORITY OF STATE OF NEW YORK                                         | STATE OF NEW YORK SALES TAX REVENUE 5.0% 03-15-32                                                    | CUSIP: 64990AXH3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2470000 | PA      | $2789282.08   | 0.12%             | 2032-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOROUGH OF NORTH SLOPE AK                                                        | BOROUGH OF NORTH SLOPE AK 5.0% 06-30-27                                                              | CUSIP: 662523X53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2075000 | PA      | $2131906.88   | 0.09%             | 2027-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                                  | STATE OF NEW JERSEY 0.0% 12-15-28                                                                    | CUSIP: 646136XF3<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1519387.84   | 0.07%             | 2028-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 08-01-28                                                                    | CUSIP: 64966Q2F6<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    600000 | PA      | $630772.20    | 0.03%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 08-01-27                                                                    | CUSIP: 64966Q2E9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2260000 | PA      | $2326629.32   | 0.10%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA HSG FIN AGY                                                            | BW COOPER SENIOR LLC HUD SECT 8 (MPT) 3.2% 08-01-29                                                  | CUSIP: 54627CCL5<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1087468.38   | 0.05%             | 2029-08-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPARTMENT OF WATER & POWER                                    | LOS ANGELES DEPARTMENT OF WATER & POWER POWER SYSTEM REVENUE 5.0% 07-01-27                           | CUSIP: 544532QU1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    675000 | PA      | $693948.60    | 0.03%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP                                | BROWN UNIVERSITY 5.0% 09-01-29                                                                       | CUSIP: 762197A76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1167627.09   | 0.05%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIALTO CALIF UNI SCH DIST                                                        | RIALTO UNIFIED SCHOOL DISTRICT BAM 0.0% 08-01-30                                                     | CUSIP: 762494RZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $299890.20    | 0.01%             | 2030-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPARTMENT OF WATER & POWER                                    | LOS ANGELES DEPARTMENT OF WATER & POWER POWER SYSTEM REVENUE 5.0% 07-01-26                           | CUSIP: 544532QT4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1781775.18   | 0.08%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LUBBOCK HOUSING FINANCE CORP/THE                                                 | 1102 58TH ST LUBBOCK APARTMENTS LP HUD SECT 8 (MPT) 2.8% 03-01-29                                    | CUSIP: 549211BE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $298407.30    | 0.01%             | 2029-03-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND HOUSING AND MORTGAGE FINANCE CORP                                   | RHODE ISLAND HOUSING & MORTGAGE FINANCE CORP GNMA COLL 6.25% 10-01-53                                | CUSIP: 76221SAP6<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1304865.58   | 0.06%             | 2053-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF CALIFORNIA                                                         | UNIVERSITY OF CALIFORNIA 5.0% 05-15-26                                                               | CUSIP: 91412HLM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25020.58     | 0.00%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 08-01-30                                                                    | CUSIP: 64966Q2H2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    665000 | PA      | $724945.76    | 0.03%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW CANEY TEX INDPT SCH DIST                                                     | NEW CANEY INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                                          | CUSIP: 643154JJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018409.00   | 0.04%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UKIAH UNIFIED SCHOOL DISTRICT/CA                                                 | UKIAH UNIFIED SCHOOL DISTRICT NATL 0.0% 08-01-28                                                     | CUSIP: 903698CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $470737.00    | 0.02%             | 2028-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| UTAH TELECOMMUNICATION OPEN INFRASTRUCTURE AGENCY                                | UTAH TELECOMMUNICATION OPEN INFRASTRUCTURE AGENCY 5.0% 06-01-29                                      | CUSIP: 91756SAG8<br>LEI: 549300LCGT5UXUJ1LP77 | Long             | DBT              | MUN               | US        |    130000 | PA      | $138716.76    | 0.01%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW CANEY TEX INDPT SCH DIST                                                     | NEW CANEY INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-28                                          | CUSIP: 643154JK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $547316.70    | 0.02%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTG FIN AUTH                                                          | NEW MEXICO MORTGAGE FINANCE AUTHORITY GNMA/FNMA/FHLMC COLL 5.75% 03-01-54                            | CUSIP: 647201YR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $853244.09    | 0.04%             | 2054-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HSG FIN AUTH                                                    | NEW HAMPSHIRE HOUSING FINANCE AUTHORITY GNMA/FNMA/FHLMC COLL 6.0% 01-01-55                           | CUSIP: 64469DU25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2537056.56   | 0.11%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 5.75% 01-01-54                                                   | CUSIP: 6589093K0<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    835000 | PA      | $888077.61    | 0.04%             | 2054-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LEE COUNTY HOUSING FINANCE AUTHORITY                                             | HORIZONS OWNER LLC (MPT) 2.65% 12-01-47                                                              | CUSIP: 52349HBL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $609998.16    | 0.03%             | 2047-12-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FLA ARPT                                                                | COUNTY OF LEE FL AIRPORT REVENUE (MPT) 5.0% 10-01-56                                                 | CUSIP: 523470JS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $930384.49    | 0.04%             | 2056-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH TELECOMMUNICATION OPEN INFRASTRUCTURE AGENCY                                | UTAH TELECOMMUNICATION OPEN INFRASTRUCTURE AGENCY 5.0% 06-01-26                                      | CUSIP: 91756SAD5<br>LEI: 549300LCGT5UXUJ1LP77 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400621.60    | 0.02%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH TELECOMMUNICATION OPEN INFRASTRUCTURE AGENCY                                | UTAH TELECOMMUNICATION OPEN INFRASTRUCTURE AGENCY 5.0% 06-01-30                                      | CUSIP: 91756SAH6<br>LEI: 549300LCGT5UXUJ1LP77 | Long             | DBT              | MUN               | US        |    305000 | PA      | $331131.49    | 0.01%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 5.75% 01-01-54                                 | CUSIP: 6582072F1<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1871876.16   | 0.08%             | 2054-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HEALTH AND EDUCATION FACILITIES AUTHORITY ACT                      | NEW HAMPSHIRE HEALTH AND EDUCATION FACILITIES AUTHORITY ACT 5.0% 11-01-43                            | CUSIP: 64461XJD8<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    475000 | PA      | $493992.40    | 0.02%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPARTMENT OF WATER & POWER                                    | LOS ANGELES DEPARTMENT OF WATER & POWER POWER SYSTEM REVENUE 5.0% 07-01-32                           | CUSIP: 544532RU0<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1396219.86   | 0.06%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY SALES TAX REVENUE       | LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTH MEASURE R SALES TAX REVENUE 5.0% 06-01-31        | CUSIP: 54466HQF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2809780.00   | 0.12%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY SALES TAX REVENUE       | LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY SALES TAX REVENUE 5.0% 07-01-32             | CUSIP: 54466HQV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1770000 | PA      | $2021150.61   | 0.09%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS VALLEY NEV WTR DIST                                                    | LAS VEGAS VALLEY WATER DISTRICT 5.0% 06-01-34                                                        | CUSIP: 517845BT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2195000 | PA      | $2199194.65   | 0.10%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH TELECOMMUNICATION OPEN INFRASTRUCTURE AGENCY                                | UTAH TELECOMMUNICATION OPEN INFRASTRUCTURE AGENCY 5.0% 06-01-27                                      | CUSIP: 91756SAE3<br>LEI: 549300LCGT5UXUJ1LP77 | Long             | DBT              | MUN               | US        |    320000 | PA      | $327644.16    | 0.01%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF UTAH                                                               | UNIVERSITY OF UTAH 5.0% 08-01-29                                                                     | CUSIP: 9151833B1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $537710.00    | 0.02%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY 2.05% 01-01-28                                                 | CUSIP: 658207ZF5<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    745000 | PA      | $727181.84    | 0.03%             | 2028-01-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST ED ASSISTANCE AUTH                                             | NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY 5.0% 06-01-43                                    | CUSIP: 658262GW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1302748.22   | 0.06%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH HOUSING CORP                                                                | UTAH HOUSING CORP GNMA/FNMA/FHLMC COLL 6.0% 07-01-53                                                 | CUSIP: 917437BL8<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    195000 | PA      | $209064.77    | 0.01%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UTAH HOUSING CORP                                                                | UTAH HOUSING CORP FHA INS 4.0% 01-01-45                                                              | CUSIP: 9174366Y8<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    130000 | PA      | $129965.55    | 0.01%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FACILITIES AUTHORITY                                            | OCHSNER CLINIC FOUNDATION OBLIGATED GROUP 5.0% 05-15-34                                              | CUSIP: 546399CH7<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4059252.00   | 0.18%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN                                                      | MARYLAND COMMUNITY DEVELOPMENT ADMINISTRATION RESIDENTIAL REVENUE 3.5% 03-01-50                      | CUSIP: 57419TDL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $348927.95    | 0.02%             | 2050-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UTAH HOUSING CORP                                                                | UTAH HOUSING CORP GNMA/FNMA/FHLMC 6.5% 01-01-54                                                      | CUSIP: 917437EP6<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    320000 | PA      | $347950.40    | 0.02%             | 2054-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UTAH HOUSING CORP                                                                | UTAH HOUSING CORP GNMA/FNMA/FHLMC 6.0% 07-01-54                                                      | CUSIP: 917437JS5<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    470000 | PA      | $517102.93    | 0.02%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                                   | NEW YORK CITY HOUSING DEVELOPMENT CORP (MPT) 3.8% 11-01-63                                           | CUSIP: 64972KBF1<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1844477.13   | 0.08%             | 2063-11-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| SONYMA HOMEOWNER MTG REV                                                         | STATE OF NEW YORK MORTGAGE AGENCY HOMEOWNER MORTGAGE REVENUE 1.95% 04-01-27                          | CUSIP: 64988YDJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1726431.00   | 0.08%             | 2027-04-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF NORTH TEXAS                                                        | UNIVERSITY OF NORTH TEXAS SYSTEM 5.0% 04-15-29                                                       | CUSIP: 914729XE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $719948.25    | 0.03%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF UNION NC                                                               | COUNTY OF UNION NC 5.0% 09-01-29                                                                     | CUSIP: 9063954K1<br>LEI: 5493007ESG9QHLUW6165 | Long             | DBT              | MUN               | US        |    500000 | PA      | $540238.00    | 0.02%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF UNION NC                                                               | COUNTY OF UNION NC 5.0% 09-01-30                                                                     | CUSIP: 9063954L9<br>LEI: 5493007ESG9QHLUW6165 | Long             | DBT              | MUN               | US        |    520000 | PA      | $572529.88    | 0.02%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH HOUSING CORP                                                                | LIBERTY CORNER ASSOCIATES LLC (MPT) 3.0% 09-01-45                                                    | CUSIP: 917434DL3<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |   2435000 | PA      | $2432711.10   | 0.11%             | 2045-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST DEPT TRANSN                                                          | STATE OF MARYLAND DEPARTMENT OF TRANSPORTATION 5.0% 10-01-26                                         | CUSIP: 574204N25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $641353.18    | 0.03%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMORIAL CITY REDEVELOPMENT AUTHORITY                                            | CITY OF HOUSTON TX REINVESTMENT ZONE NO 17 AG 5.0% 09-01-26                                          | CUSIP: 58602FAG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $321815.36    | 0.01%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST TRANSPORTATION FUND REVENUE                                     | COMMONWEALTH OF MASSACHUSETTS TRANSPORTATION FUND REVENUE 5.0% 06-01-26                              | CUSIP: 57604THS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $350674.80    | 0.02%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH                                                      | MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY 2.0% 07-01-37                                          | CUSIP: 57563RSJ9<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |    145000 | PA      | $119495.37    | 0.01%             | 2037-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA MUNICIPAL ELEC AUTH                                                      | MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA AG 5.0% 01-01-27                                             | CUSIP: 62620HAE2<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    220000 | PA      | $223550.80    | 0.01%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST DEPT TRANSN                                                          | STATE OF MARYLAND DEPARTMENT OF TRANSPORTATION 5.0% 11-01-29                                         | CUSIP: 574204Y72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2855000 | PA      | $3088110.75   | 0.13%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 6.25% 01-01-55                                 | CUSIP: 6582076L4<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    935000 | PA      | $1009202.54   | 0.04%             | 2055-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY                                  | NEW YORK CITY WATER & SEWER SYSTEM FRN 06-15-48                                                      | CUSIP: 64972GJN5<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.04%             | 2048-06-15      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 6.25% 07-01-55                                 | CUSIP: 65820BBA3<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    900000 | PA      | $982424.70    | 0.04%             | 2055-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST DEPT TRANSN                                                          | STATE OF MARYLAND DEPARTMENT OF TRANSPORTATION 5.0% 10-01-29                                         | CUSIP: 574204W82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1403868.70   | 0.06%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MANTECA CALIF UNI SCH DIST                                                       | MANTECA UNIFIED SCHOOL DISTRICT NATL 0.0% 08-01-31                                                   | CUSIP: 564538CS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1074313.75   | 0.05%             | 2031-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MISSION ECONOMIC DEVELOPMENT CORP                                                | WASTE MANAGEMENT INC (MPT) 2.875% 06-01-55                                                           | CUSIP: 605155BX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1099511.60   | 0.05%             | 2055-06-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON CNTY TENN INDL DEV BRD                             | NASHVILLE LEASED HOUSING ASSOCIATES V LLLP (MPT) 3.15% 07-01-44                                      | CUSIP: 592109AM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1153486.80   | 0.05%             | 2044-07-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI HOME CORP                                                            | MISSISSIPPI HOME CORP GNMA/FNMA/FHLMC 6.25% 12-01-55                                                 | CUSIP: 60535Q4G2<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |    830000 | PA      | $928214.73    | 0.04%             | 2055-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN NASHVILLE AIRPORT AUTHORITY                                         | METROPOLITAN NASHVILLE AIRPORT AUTHORITY 5.0% 07-01-29                                               | CUSIP: 592190SB9<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |    775000 | PA      | $822151.78    | 0.04%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY                      | JOHNS HOPKINS HEALTH SYSTEM CORP FRN 05-15-53                                                        | CUSIP: 57421CLT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $700000.00    | 0.03%             | 2053-05-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS CLEAN WATER TRUST                                                  | MASSACHUSETTS CLEAN WATER STATE REVOLVING FUND 5.0% 02-01-27                                         | CUSIP: 575829PF7<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |   2195000 | PA      | $2235150.94   | 0.10%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEDINA VALLEY TEX INDPT SCH DIST                                                 | MEDINA VALLEY INDEPENDENT SCHOOL DISTRICT PSF-GTD (MPT) 2.85% 02-15-49                               | CUSIP: 584887WZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $289741.61    | 0.01%             | 2049-02-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSPITAL FINANCE AUTHORITY                                        | BRONSON HEALTH CARE GROUP OBLIGATED GROUP 5.0% 11-15-29                                              | CUSIP: 59465HYA8<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1214545.74   | 0.05%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSPITAL FINANCE AUTHORITY                                        | BRONSON HEALTH CARE GROUP OBLIGATED GROUP 5.0% 05-15-29                                              | CUSIP: 59465HXS0<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062588.00   | 0.05%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSPITAL FINANCE AUTHORITY                                        | BRONSON HEALTH CARE GROUP OBLIGATED GROUP 5.0% 05-15-31                                              | CUSIP: 59465HXU5<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1557835.65   | 0.07%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSPITAL FINANCE AUTHORITY                                        | BRONSON HEALTH CARE GROUP OBLIGATED GROUP 5.0% 05-15-32                                              | CUSIP: 59465HXV3<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1270639.60   | 0.06%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSPITAL FINANCE AUTHORITY                                        | BRONSON HEALTH CARE GROUP OBLIGATED GROUP 5.0% 05-15-33                                              | CUSIP: 59465HXW1<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1114143.00   | 0.05%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CO                                                   | TRINITY BASIN PREPARATORY INC PSF-GTD 5.0% 08-15-27                                                  | CUSIP: 041807EN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $575091.44    | 0.03%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                         | EQUITABLE SCHOOL REVOLVING FUND LLC OBLIGATED GROUP 5.0% 11-01-28                                    | CUSIP: 04052FDU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2950000 | PA      | $3068283.20   | 0.13%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA HOUSING FINANCE CORP                                                      | ALASKA HOUSING FINANCE CORP 5.0% 12-01-26                                                            | CUSIP: 011839YE1<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    725000 | PA      | $734152.40    | 0.03%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA HOUSING FINANCE CORP                                                      | ALASKA HOUSING FINANCE CORP 5.0% 06-01-27                                                            | CUSIP: 011839YF8<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    590000 | PA      | $604093.92    | 0.03%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                               | BJC HEALTHCARE OBLIGATED GROUP 5.0% 04-01-33                                                         | CUSIP: 60637AYU0<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4478220.00   | 0.19%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE COUNTY HOUSING FINANCE AUTHORITY                                      | BONITA POINTE OWNER LP FHA 221(D4) (MPT) 2.65% 04-01-29                                              | CUSIP: 593344DM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1087881.41   | 0.05%             | 2029-04-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| ALASKA HOUSING FINANCE CORP                                                      | ALASKA HOUSING FINANCE CORP 6.0% 06-01-54                                                            | CUSIP: 01170RPW6<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    400000 | PA      | $430647.20    | 0.02%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALVIN TEX INDPT SCH DIST                                                         | ALVIN INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-29                                              | CUSIP: 022447Z41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $799583.25    | 0.03%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CALIF UNI SCH DIST                                                     | NEW HAVEN UNIFIED SCHOOL DISTRICT AG 0.0% 08-01-29                                                   | CUSIP: 645002WM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7650000 | PA      | $6981382.35   | 0.30%             | 2029-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY                                                  | NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY 5.0% 10-01-53                                           | CUSIP: 64613AGE6<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1291443.48   | 0.06%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DORMITORY AUTHORITY OF STATE OF NEW YORK                                         | STATE OF NEW YORK PERSONAL INCOME TAX REVENUE 5.0% 03-15-27                                          | CUSIP: 64990F2C7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1515403.89   | 0.07%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 08-01-29                                                                    | CUSIP: 64966SKF2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   5830000 | PA      | $6248972.95   | 0.27%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA HOUSING FINANCE CORP                                                      | ALASKA HOUSING FINANCE CORP 2.15% 06-01-26                                                           | CUSIP: 01170RFE7<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    495000 | PA      | $494346.60    | 0.02%             | 2026-06-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                         | PHOENIX CHILDREN'S HOSPITAL FRN 02-01-48                                                             | CUSIP: 04052EAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4945000 | PA      | $4945000.00   | 0.22%             | 2048-02-01      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY                                                          | WEST 62ND STREET LLC (MPT) 3.6% 11-01-44                                                             | CUSIP: 64987JZ20<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1910245.28   | 0.08%             | 2044-11-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                                   | NEW YORK CITY HOUSING DEVELOPMENT CORP (MPT) 3.25% 11-01-64                                          | CUSIP: 64972KJL0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   4230000 | PA      | $4250117.88   | 0.18%             | 2064-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SONYMA HOMEOWNER MTG REV                                                         | STATE OF NEW YORK MORTGAGE AGENCY HOMEOWNER MORTGAGE REVENUE 4.0% 10-01-37                           | CUSIP: 6498832W4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115006.67    | 0.01%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 4.0% 07-01-48                                                    | CUSIP: 658909PF7<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    650000 | PA      | $650711.10    | 0.03%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVESTMENT FINANCE AUTHORITY                                            | NEBRASKA INVESTMENT FINANCE AUTHORITY GNMA/FNMA/FHLMC 4.0% 09-01-48                                  | CUSIP: 63968MRE1<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150718.20    | 0.01%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 4.0% 01-01-49                                                    | CUSIP: 658909QW9<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   2275000 | PA      | $2278305.58   | 0.10%             | 2049-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALASKA HOUSING FINANCE CORP                                                      | ALASKA HOUSING FINANCE CORP 5.0% 12-01-27                                                            | CUSIP: 011839YG6<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    600000 | PA      | $621099.00    | 0.03%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA HOUSING FINANCE CORP                                                      | ALASKA HOUSING FINANCE CORP 5.0% 06-01-26                                                            | CUSIP: 011839YD3<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    550000 | PA      | $550929.50    | 0.02%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 3.75% 12-01-31                              | CUSIP: 646080TE1<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    155000 | PA      | $154889.64    | 0.01%             | 2031-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY                                                  | NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY SINGLE-FAMILY HOME MORTGAGE 4.5% 10-01-48               | CUSIP: 64613AAC6<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1263302.75   | 0.05%             | 2048-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVESTMENT FINANCE AUTHORITY                                            | NEBRASKA INVESTMENT FINANCE AUTHORITY 4.0% 09-01-48                                                  | CUSIP: 63968MSJ9<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1564622.34   | 0.07%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTG FIN AUTH                                                          | NEW MEXICO MORTGAGE FINANCE AUTHORITY GNMA/FNMA/FHLMC 4.0% 01-01-49                                  | CUSIP: 647201CH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $396406.60    | 0.02%             | 2049-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 4.25% 01-01-49                                                   | CUSIP: 658909SW7<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1591682.36   | 0.07%             | 2049-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DORMITORY AUTHORITY OF STATE OF NEW YORK                                         | STATE OF NEW YORK SALES TAX REVENUE 5.0% 03-15-27                                                    | CUSIP: 64990AMC6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1065000 | PA      | $1088012.52   | 0.05%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CO                                                   | HARMONY PUBLIC SCHOOLS PSF-GTD 5.0% 02-15-34                                                         | CUSIP: 041807GM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1417352.30   | 0.06%             | 2034-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                         | IRONWOOD RANCH APARTMENTS LP (MPT) 5.0% 02-01-58                                                     | CUSIP: 04062PCC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005974.00   | 0.04%             | 2058-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN AFFORDABLE PFC INC                                                        | 8000 DECKER LANE OWNER LP (MPT) 5.0% 09-01-28                                                        | CUSIP: 05217TAS3<br>LEI: 529900LKLIWOHOEBOF89 | Long             | DBT              | MUN               | US        |    330000 | PA      | $338944.65    | 0.01%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN AFFORDABLE PFC INC                                                        | 1000 COLLINWOOD WEST DRIVE TX OWNER LP FNMA COLL (MPT) 5.0% 09-01-28                                 | CUSIP: 05217TAU8<br>LEI: 529900LKLIWOHOEBOF89 | Long             | DBT              | MUN               | US        |    235000 | PA      | $241058.77    | 0.01%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                                  | STATE OF NEW JERSEY 5.0% 12-15-32                                                                    | CUSIP: 6461364D0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2070000 | PA      | $2174301.09   | 0.09%             | 2032-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 4.25% 07-01-47                                 | CUSIP: 658207WG6<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    725000 | PA      | $729368.13    | 0.03%             | 2047-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUTH                                                  | AHC GOODWILL 4 LLC (MPT) 2.95% 09-01-49                                                              | CUSIP: 04144PDX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2114989.13   | 0.09%             | 2049-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| ATLANTA URBAN RESIDENTIAL FINANCE AUTHORITY                                      | MARTIN HOUSE SENIOR HOUSING LP (MPT) 3.2% 05-01-29                                                   | CUSIP: 04785VCD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2604175.60   | 0.11%             | 2029-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                         | GUNSMOKE RANCH APARTMENTS LP (MPT) 5.0% 03-01-58                                                     | CUSIP: 04062PCD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009900.00   | 0.04%             | 2058-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA URBAN RESIDENTIAL FINANCE AUTHORITY                                      | PPP METROPOLITAN LLC (MPT) 2.99% 10-01-42                                                            | CUSIP: 04785VBR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5600000 | PA      | $5607235.20   | 0.24%             | 2042-10-01      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| ATHENS HOUSING AUTHORITY                                                         | NORTH DOWNTOWN ATHENS PHASE II LP (MPT) 3.23% 06-01-45                                               | CUSIP: 04708PAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2305000 | PA      | $2317343.28   | 0.10%             | 2045-06-01      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| CANYONS MET DIST NO 5 COLO                                                       | CANYONS METROPOLITAN DISTRICT NO 5 BAM 5.0% 12-01-29                                                 | CUSIP: 139071AJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $213798.80    | 0.01%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA HSG FIN AUTH                                                             | FOREST HILLS PARTNERS II LLLP HUD SECT 8 (MPT) 5.0% 11-01-27                                         | CUSIP: 01030PGY6<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009403.00   | 0.04%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                         | ACACIA ONE OWNER LLC (MPT) 5.0% 11-01-58                                                             | CUSIP: 04062PCE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12425000 | PA      | $12586363.48  | 0.55%             | 2058-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA HSG FIN AUTH                                                             | COOPER GREEN HOMES 2023 LLC (MPT) 5.0% 02-01-29                                                      | CUSIP: 01030PGZ3<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |    485000 | PA      | $500938.56    | 0.02%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA URBAN RESIDENTIAL FINANCE AUTHORITY                                      | NORTH BLOCK ASSOCIATES LLC HUD SECT 8 FHA 221(D)(4) (MPT) 3.4% 02-01-29                              | CUSIP: 04785VBX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1054857.30   | 0.05%             | 2029-02-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| ADAMS COUNTY SCHOOL DISTRICT NO 14                                               | ADAMS COUNTY SCHOOL DISTRICT NO 14 ST AID WITHHLDG 5.0% 12-01-33                                     | CUSIP: 005662NZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1347708.68   | 0.06%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADAMS & ARAPAHOE COUNTIES JOINT SCHOOL DISTRICT 28J AURORA                       | ADAMS & ARAPAHOE COUNTIES JOINT SCHOOL DISTRICT 28J AURORA ST AID WITHHLDG 5.5% 12-01-26             | CUSIP: 0054824G6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017132.00   | 0.04%             | 2026-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SONYMA HOMEOWNER MTG REV                                                         | STATE OF NEW YORK MORTGAGE AGENCY HOMEOWNER MORTGAGE REVENUE 4.25% 10-01-47                          | CUSIP: 6498835R2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $970372.16    | 0.04%             | 2047-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY                                  | NEW YORK CITY WATER & SEWER SYSTEM FRN 06-15-49                                                      | CUSIP: 64972GEK6<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1115000.00   | 0.05%             | 2049-06-15      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH                                                      | WASTE MANAGEMENT INC (MPT) 2.4% 10-01-44                                                             | CUSIP: 13048RAG2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   5280000 | PA      | $5151131.04   | 0.22%             | 2044-10-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                                      | CONNECTICUT HOUSING FINANCE AUTHORITY 3.5% 11-15-43                                                  | CUSIP: 20775C5S9<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    280000 | PA      | $279209.28    | 0.01%             | 2043-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CANYONS MET DIST NO 5 COLO                                                       | CANYONS METROPOLITAN DISTRICT NO 5 BAM 5.0% 12-01-34                                                 | CUSIP: 139071AP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $280182.50    | 0.01%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT                                                     | CHICAGO O'HARE INTERNATIONAL AIRPORT 5.0% 01-01-31                                                   | CUSIP: 1675935P3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1198085.16   | 0.05%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 4.25% 07-01-49                                                   | CUSIP: 658909TX4<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    190000 | PA      | $191088.51    | 0.01%             | 2049-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY                                                  | NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY SINGLE-FAMILY HOME MORTGAGE 4.75% 10-01-50              | CUSIP: 64613ABT8<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    210000 | PA      | $213240.51    | 0.01%             | 2050-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY AZIDA_19-2                              | AZIDA 2019-2 X IO FRN 05-20-33                                                                       | CUSIP: 04052ABJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    256292 | PA      | $8019.38      | 0.00%             | 2033-05-20      | Variable      | 0.91%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVESTMENT FINANCE AUTHORITY                                            | NEBRASKA INVESTMENT FINANCE AUTHORITY GNMA/FNMA/FHLMC 4.0% 09-01-49                                  | CUSIP: 63968MTQ2<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1106575.73   | 0.05%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTG FIN AUTH                                                          | NEW MEXICO MORTGAGE FINANCE AUTHORITY GNMA/FNMA/FHLMC 4.0% 07-01-50                                  | CUSIP: 647201FY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $221114.52    | 0.01%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CO                                                   | UPLIFT EDUCATION PSF-GTD 4.0% 12-01-26                                                               | CUSIP: 041806TB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $442722.72    | 0.02%             | 2026-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALVORD CALIF UNI SCH DIST                                                        | ALVORD UNIFIED SCHOOL DISTRICT AG 0.0% 08-01-36                                                      | CUSIP: 022555UK0<br>LEI: 549300Q9J0UCO75DL276 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1353620.00   | 0.06%             | 2036-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                                  | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.0% 02-01-55                                  | CUSIP: 13013JEP7<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    825000 | PA      | $875462.78    | 0.04%             | 2055-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                                  | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.0% 02-01-55                                  | CUSIP: 13013JFR2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   8345000 | PA      | $8866262.08   | 0.39%             | 2055-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA (STATE OF)                                                            | STATE OF CALIFORNIA 4.0% 03-01-28                                                                    | CUSIP: 13063DTB4<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    500000 | PA      | $514985.50    | 0.02%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES AUTHORITY                      | YALE UNIVERSITY (MPT) 2.0% 07-01-42                                                                  | CUSIP: 20774YJ99<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499341.50    | 0.02%             | 2042-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 4.0% 01-01-50                                                    | CUSIP: 658909VB9<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    475000 | PA      | $480153.75    | 0.02%             | 2050-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                                      | OHIO HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.75% 09-01-50                                           | CUSIP: 67756QD46<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1259049.89   | 0.05%             | 2050-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                                  | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.0% 11-01-55                                  | CUSIP: 13013JFS0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026388.00   | 0.04%             | 2055-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY                            | WASTE MANAGEMENT INC (MPT) 2.875% 06-01-49                                                           | CUSIP: 708692CB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1244447.22   | 0.05%             | 2049-06-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| PIMA COUNTY UNIFIED SCHOOL DISTRICT NO 1 TUCSON                                  | PIMA COUNTY UNIFIED SCHOOL DISTRICT NO 1 TUCSON 5.0% 07-01-33                                        | CUSIP: 721799K78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $567248.00    | 0.02%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY                            | WASTE MANAGEMENT PA OBLIGATED GROUP (MPT) 4.25% 07-01-41                                             | CUSIP: 708692BF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2020578.00   | 0.09%             | 2041-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SEATTLE WASHINGTON PORT OF                                                       | PORT OF SEATTLE WA 5.0% 02-01-28                                                                     | CUSIP: 735389YG7<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001325.00   | 0.04%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY WISCONSIN                                               | WASTE MANAGEMENT INC (MPT) 1.1% 07-01-29                                                             | CUSIP: 74445MAC3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2380000 | PA      | $2375397.08   | 0.10%             | 2029-07-01      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | PA SFM PAC (100-500) PSA 17-122 SF 4.0% 10-01-46                                                     | CUSIP: 7087964R5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    655000 | PA      | $654499.58    | 0.03%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | PA HFA SFM AMT PAC (100-500) PSA 17-123A SF 4.0% 04-01-39                                            | CUSIP: 7087965R4<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |     95000 | PA      | $94480.92     | 0.00%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT                                | CHILDREN'S HOSPITAL OF PHILADELPHIA OBLIGATED GROUP 5.0% 07-01-34                                    | CUSIP: 717901BG6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1548633.00   | 0.07%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMISSION                                              | PENNSYLVANIA TURNPIKE COMMISSION 5.0% 12-01-27                                                       | CUSIP: 709224ZH5<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    515000 | PA      | $533515.80    | 0.02%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF NEW YORK AND NEW JERSEY                                        | PORT AUTHORITY OF NEW YORK & NEW JERSEY 5.0% 09-15-28                                                | CUSIP: 73358WR89<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   4455000 | PA      | $4614569.19   | 0.20%             | 2028-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA BRD REGENTS                                                              | ARIZONA STATE UNIVERSITY 5.0% 07-01-26                                                               | CUSIP: 040664AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $301180.50    | 0.01%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA HOUSING FINANCE CORP                                                      | ALASKA HOUSING FINANCE CORP 3.25% 12-01-44                                                           | CUSIP: 01170RKQ4<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |   1935000 | PA      | $1918616.36   | 0.08%             | 2044-12-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                                      | CONNECTICUT HOUSING FINANCE AUTHORITY 4.0% 11-15-47                                                  | CUSIP: 20775CQB3<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    215000 | PA      | $215134.16    | 0.01%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                                      | CONNECTICUT HOUSING FINANCE AUTHORITY 4.0% 11-15-47                                                  | CUSIP: 20775CTX2<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100074.50    | 0.00%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRINCE GEORGES CNTY MD                                                           | COUNTY OF PRINCE GEORGE'S MD 5.0% 07-15-29                                                           | CUSIP: 7417014S2<br>LEI: 549300NSQ1W50I0VU811 | Long             | DBT              | MUN               | US        |    585000 | PA      | $616518.05    | 0.03%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY                            | WASTE MANAGEMENT PA OBLIGATED GROUP (MPT) 0.95% 12-01-33                                             | CUSIP: 708692BC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4931380.00   | 0.21%             | 2033-12-01      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                                      | CONNECTICUT HOUSING FINANCE AUTHORITY GNMA/FNMA/FHLMC 4.0% 11-15-47                                  | CUSIP: 20775CVJ0<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    210000 | PA      | $210129.36    | 0.01%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY GNMA COLL 4.0% 05-01-48                                       | CUSIP: 196479E62<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150206.25    | 0.01%             | 2048-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL WATERWORKS REVENUE                                            | CITY OF CHICAGO IL WATERWORKS REVENUE AG 5.0% 11-01-31                                               | CUSIP: 167736P35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2371769.20   | 0.10%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA DEPARTMENT OF WATER RESOURCES                                         | STATE OF CALIFORNIA DEPARTMENT OF WATER RESOURCES 5.0% 12-01-33                                      | CUSIP: 13067WNY4<br>LEI: 549300X618YEC5LGBQ98 | Long             | DBT              | MUN               | US        |    245000 | PA      | $254894.08    | 0.01%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY JOINT TOWNSHIP HOSPITAL DISTRICT                               | SUMMA HEALTH SYSTEM OBLIGATED GROUP 5.0% 11-15-28                                                    | CUSIP: 009730PK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $486351.10    | 0.02%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CO                                                   | GREAT HEARTS AMERICA - TEXAS PSF-GTD 4.0% 08-15-26                                                   | CUSIP: 041806M31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110320.43    | 0.00%             | 2026-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP                                             | PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE 0.0% 07-01-31                                 | CUSIP: 74529JQE8<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | PR        |     45000 | PA      | $37662.08     | 0.00%             | 2031-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| RALEIGH-DURHAM N C ARPT AUTH                                                     | RALEIGH DURHAM AIRPORT AUTHORITY 5.0% 05-01-26                                                       | CUSIP: 751073KK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1615000.00   | 0.07%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                                      | CONNECTICUT HOUSING FINANCE AUTHORITY 4.0% 11-15-41                                                  | CUSIP: 20775CZE7<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    290000 | PA      | $289998.84    | 0.01%             | 2041-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY GNMA COLL 4.0% 11-01-48                                       | CUSIP: 196479N96<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    155000 | PA      | $155230.33    | 0.01%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY GNMA COLL 4.25% 11-01-48                                      | CUSIP: 196479S59<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    270000 | PA      | $271423.98    | 0.01%             | 2048-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                                      | CONNECTICUT HOUSING FINANCE AUTHORITY GNMA/FNMA/FHLMC 4.25% 05-15-42                                 | CUSIP: 20775CN34<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    260000 | PA      | $261354.86    | 0.01%             | 2042-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY GNMA COLL 4.25% 05-01-49                                      | CUSIP: 1964792D0<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   1965000 | PA      | $1976298.75   | 0.09%             | 2049-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD ED                                                                | CHICAGO BOARD OF EDUCATION AG 5.0% 12-01-27                                                          | CUSIP: 167505VT0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2005715.40   | 0.09%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY 4.25% 05-01-49                                                | CUSIP: 1964793F4<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    370000 | PA      | $372788.69    | 0.02%             | 2049-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA (STATE OF)                                                            | STATE OF CALIFORNIA 4.0% 12-01-49                                                                    | CUSIP: 13063DND6<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    675000 | PA      | $677653.43    | 0.03%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RALEIGH-DURHAM N C ARPT AUTH                                                     | RALEIGH DURHAM AIRPORT AUTHORITY 5.0% 05-01-28                                                       | CUSIP: 751073KM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001615.00   | 0.04%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSPORTATION DISTRICT                                                 | DENVER TRANSIT PARTNERS LLC 5.0% 01-15-29                                                            | CUSIP: 759151BE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $417903.20    | 0.02%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ALASKA INTERNATIONAL AIRPORTS SYSTEM                                    | STATE OF ALASKA INTERNATIONAL AIRPORTS SYSTEM 5.0% 10-01-26                                          | CUSIP: 011842UP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1512877.50   | 0.07%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ALASKA INTERNATIONAL AIRPORTS SYSTEM                                    | STATE OF ALASKA INTERNATIONAL AIRPORTS SYSTEM 5.0% 10-01-29                                          | CUSIP: 011842US8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3185000 | PA      | $3397477.72   | 0.15%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA (STATE OF)                                                            | STATE OF CALIFORNIA 5.0% 04-01-29                                                                    | CUSIP: 13063DPH5<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    120000 | PA      | $128555.40    | 0.01%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA INCOME TAX REV                                                 | DISTRICT OF COLUMBIA INCOME TAX REVENUE 5.0% 10-01-26                                                | CUSIP: 25477GPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3385000 | PA      | $3417309.83   | 0.15%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSPORTATION DISTRICT                                                 | DENVER TRANSIT PARTNERS LLC 5.0% 07-15-27                                                            | CUSIP: 759151BB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $208741.25    | 0.01%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND HOUSING AND MORTGAGE FINANCE CORP                                   | RHODE ISLAND HOUSING & MORTGAGE FINANCE CORP 3.0% 10-01-51                                           | CUSIP: 76221RR62<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   2505000 | PA      | $2478138.89   | 0.11%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND STUDENT LOAN AUTHORITY                                              | RHODE ISLAND STUDENT LOAN AUTHORITY 4.125% 12-01-41                                                  | CUSIP: 762323CB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1648197.66   | 0.07%             | 2041-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND STUDENT LOAN AUTHORITY                                              | RHODE ISLAND STUDENT LOAN AUTHORITY 4.125% 12-01-42                                                  | CUSIP: 762323CP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $342113.15    | 0.01%             | 2042-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| THF PUBLIC FACILITY CORP                                                         | THF COVINGTON ACRES LP (MPT) 3.34% 02-01-44                                                          | CUSIP: 883720AE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2085000 | PA      | $2099346.89   | 0.09%             | 2044-02-01      | Fixed         | 3.34%                 | No            |                  2 | On Loan: No      |
| TULARE JOINT UNION HIGH SCHOOL DISTRICT                                          | TULARE JOINT UNION HIGH SCHOOL DISTRICT NATL 0.0% 08-01-26                                           | CUSIP: 899096AX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496558.50    | 0.02%             | 2026-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TOMBALL TEX INDPT SCH DIST                                                       | TOMBALL INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                                            | CUSIP: 889855Z88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1070158.95   | 0.05%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS                                  | TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS GNMA COLL 6.25% 01-01-56                             | CUSIP: 882750P55<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2800750.00   | 0.12%             | 2056-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CITY OF ATLANTA GA DEPARTMENT OF AVIATION                                        | CITY OF ATLANTA GA DEPARTMENT OF AVIATION 5.0% 07-01-28                                              | CUSIP: 04780MZM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $694188.85    | 0.03%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ATLANTA GA DEPARTMENT OF AVIATION                                        | CITY OF ATLANTA GA DEPARTMENT OF AVIATION 5.0% 07-01-27                                              | CUSIP: 04780MYP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $441970.77    | 0.02%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS (STATE OF)                                                                 | STATE OF TEXAS 5.0% 10-01-29                                                                         | CUSIP: 882725CT9<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1223753.60   | 0.05%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUNICIPAL GAS ACQUISITION AND SUPPLY CORP VI                               | TEXAS MUNICIPAL GAS ACQUISITION & SUPPLY CORP VI 5.0% 01-01-32                                       | CUSIP: 88256FAF9<br>LEI: 254900OCOQCKZZ4U6C83 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1701468.80   | 0.07%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP                                       | BAYLOR SCOTT & WHITE HEALTH OBLIGATED GROUP 5.0% 11-15-28                                            | CUSIP: 87638QTM1<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1147127.10   | 0.05%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & TUNNEL AUTHORITY                                             | METROPOLITAN TRANSPORTATION AUTHORITY PAYROLL MOBILITY TAX REVENUE 5.0% 02-01-29                     | CUSIP: 89602HJD0<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5328990.00   | 0.23%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEL VALLE TEX INDPT SCH DIST                                                     | DEL VALLE INDEPENDENT SCHOOL DISTRICT TX PSF-GTD 5.0% 06-15-26                                       | CUSIP: 245505UX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002888.00   | 0.04%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEL MAR COLLEGE DISTRICT                                                         | DEL MAR COLLEGE DISTRICT 5.0% 08-15-26                                                               | CUSIP: 245176JD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $336997.61    | 0.01%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA (WASHINGTON DC)                                             | DISTRICT OF COLUMBIA 5.0% 02-01-30                                                                   | CUSIP: 25476FYF9<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    700000 | PA      | $759670.10    | 0.03%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA STUDENT LOAN LIQUIDITY CORP                                                 | IOWA STUDENT LOAN LIQUIDITY CORP 5.0% 12-01-31                                                       | CUSIP: 462590PP9<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    725000 | PA      | $772104.70    | 0.03%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA STUDENT LOAN LIQUIDITY CORP                                                 | IOWA STUDENT LOAN LIQUIDITY CORP 5.0% 12-01-30                                                       | CUSIP: 462590PN4<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    720000 | PA      | $765002.88    | 0.03%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA STUDENT LOAN LIQUIDITY CORP                                                 | IOWA STUDENT LOAN LIQUIDITY CORP 4.5% 12-01-45                                                       | CUSIP: 462590PU8<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1042238.45   | 0.05%             | 2045-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & TUNNEL AUTHORITY                                             | METROPOLITAN TRANSPORTATION AUTHORITY PAYROLL MOBILITY TAX REVENUE 5.0% 02-01-28                     | CUSIP: 89602HJC2<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |  12455000 | PA      | $12974772.06  | 0.56%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT REGIONAL WATER DISTRICT WATER SUPPLY SYSTEM REVENUE                      | TARRANT REGIONAL WATER DISTRICT WATER SUPPLY SYSTEM REVENUE 5.0% 03-01-32                            | CUSIP: 876443WJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7650000 | PA      | $8558689.95   | 0.37%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT REGIONAL WATER DISTRICT WATER SUPPLY SYSTEM REVENUE                      | TARRANT REGIONAL WATER DISTRICT WATER SUPPLY SYSTEM REVENUE 5.0% 03-01-33                            | CUSIP: 876443WK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2264932.00   | 0.10%             | 2033-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WOMAN'S UNIVERSITY                                                         | TEXAS WOMAN'S UNIVERSITY 5.0% 07-01-29                                                               | CUSIP: 882874MZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1843968.08   | 0.08%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                                  | KENTUCKY PUBLIC ENERGY AUTHORITY (MPT) FRN 08-01-52                                                  | CUSIP: 74440DDT8<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    570000 | PA      | $571249.44    | 0.02%             | 2052-08-01      | Variable      | 3.64%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                                  | KENTUCKY PUBLIC ENERGY AUTHORITY (MPT) 4.0% 08-01-52                                                 | CUSIP: 74440DDS0<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6568276.00   | 0.29%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KING & SNOHOMISH CNTYS WASH SCH DIST NO 417 NORTHSHORE                           | KING & SNOHOMISH COUNTIES SCHOOL DISTRICT NO 417 NORTHSHORE SCH BD GTY 5.0% 12-01-29                 | CUSIP: 494656W56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $432198.00    | 0.02%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY HSG CORP                                                                | BEECHER IV LLC HUD SECT 8 (MPT) 5.0% 09-01-43                                                        | CUSIP: 49131CAA0<br>LEI: 549300NTBUU903EKQ287 | Long             | DBT              | MUN               | US        |   2030000 | PA      | $2033243.94   | 0.09%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX AIRPORT SYSTEM REVENUE                                         | CITY OF AUSTIN TX AIRPORT SYSTEM REVENUE 5.0% 11-15-26                                               | CUSIP: 052398HB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2820000 | PA      | $2848910.64   | 0.12%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX AIRPORT SYSTEM REVENUE                                         | CITY OF AUSTIN TX AIRPORT SYSTEM REVENUE 5.0% 11-15-27                                               | CUSIP: 052398HC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2060394.00   | 0.09%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF TACOMA WA ELECTRIC SYSTEM REVENUE                                        | CITY OF TACOMA WA ELECTRIC SYSTEM REVENUE 4.0% 01-01-42                                              | CUSIP: 873519MZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1774980.12   | 0.08%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEXAS TURNPIKE SYSTEM                                                    | CENTRAL TEXAS TURNPIKE SYSTEM AMBAC 0.0% 08-15-27                                                    | CUSIP: 882762FB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3370000 | PA      | $3242610.63   | 0.14%             | 2027-08-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                                  | KENTUCKY PUBLIC ENERGY AUTHORITY (MPT) 5.25% 04-01-54                                                | CUSIP: 74440DEC4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1723657.20   | 0.07%             | 2054-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KENTUCKY HSG CORP                                                                | KENTUCKY HOUSING CORP GNMA/FNMA/FHLMC 6.25% 07-01-54                                                 | CUSIP: 491309ES5<br>LEI: 549300NTBUU903EKQ287 | Long             | DBT              | MUN               | US        |    510000 | PA      | $564016.14    | 0.02%             | 2054-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TEXAS (STATE OF)                                                                 | STATE OF TEXAS 5.0% 04-01-31                                                                         | CUSIP: 8827234P1<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   2990000 | PA      | $2994532.84   | 0.13%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP I GAS SUPPLY REV                         | TEXAS MUNICIPAL GAS ACQUISITION AND SUPPLY CORP I 6.25% 12-15-26                                     | CUSIP: 88256CEX3<br>LEI: 6AZ7FRSNC3ZFPM0Z8L86 | Long             | DBT              | MUN               | US        |   2345000 | PA      | $2392655.09   | 0.10%             | 2026-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                                  | KENTUCKY PUBLIC ENERGY AUTHORITY (MPT) 5.0% 05-01-55                                                 | CUSIP: 74440DEL4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7349860.00   | 0.32%             | 2055-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY HSG CORP                                                                | KENTUCKY HOUSING CORP GNMA/FNMA/FHLMC 6.25% 01-01-55                                                 | CUSIP: 491309JC5<br>LEI: 549300NTBUU903EKQ287 | Long             | DBT              | MUN               | US        |    295000 | PA      | $320599.22    | 0.01%             | 2055-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TSASC INC N Y                                                                    | TSASC INC 5.0% 06-01-27                                                                              | CUSIP: 898526EV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1532710.50   | 0.07%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY                                                            | TENNESSEE HOUSING DEVELOPMENT AGENCY 4.0% 07-01-42                                                   | CUSIP: 880461NL8<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |    415000 | PA      | $415549.05    | 0.02%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                                  | KENTUCKY PUBLIC ENERGY AUTHORITY 5.0% 02-01-29                                                       | CUSIP: 74440DEU4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    625000 | PA      | $646728.13    | 0.03%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                                  | KENTUCKY PUBLIC ENERGY AUTHORITY 5.0% 02-01-30                                                       | CUSIP: 74440DEW0<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    525000 | PA      | $549067.05    | 0.02%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH                                                      | REPUBLIC SERVICES INC (MPT) 2.95% 07-01-41                                                           | CUSIP: 13048RAJ6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $7994384.00   | 0.35%             | 2041-07-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                                  | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 4.0% 02-01-52                                  | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1216930.71   | 0.05%             | 2052-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY                                                            | TENNESSEE HOUSING DEVELOPMENT AGENCY 4.0% 01-01-42                                                   | CUSIP: 880461PT9<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |    640000 | PA      | $642131.84    | 0.03%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY OHIO                                                               | TRINITY HEALTH CORP OBLIGATED GROUP (MPT) 2.45% 12-01-46                                             | CUSIP: 353202FK5<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |   2105000 | PA      | $2105000.00   | 0.09%             | 2046-12-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV BRD                                                              | STATE WATER IMPLEMENTATION REVENUE FUND FOR TEXAS 5.0% 10-15-30                                      | CUSIP: 882854N99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $823644.12    | 0.04%             | 2030-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF REGENTS OF THE UNIVERSITY OF TEXAS SYSTEM                               | BOARD OF REGENTS OF THE UNIVERSITY OF TEXAS SYSTEM 5.0% 08-15-29                                     | CUSIP: 91514AJU0<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1129692.90   | 0.05%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES AUTHORITY                      | HARTFORD HEALTHCARE OBLIGATED GROUP 5.0% 07-01-28                                                    | CUSIP: 20775DPS5<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    925000 | PA      | $967587.00    | 0.04%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PUGET SOUND REGIONAL TRANSPORTATION AUTHORITY WA                         | CENTRAL PUGET SOUND REGIONAL TRANSIT AUTH SALES MOTOR VEHICLE & RENTAL CAR TAX 5.0% 11-01-28         | CUSIP: 155048DT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $68977.03     | 0.00%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF MICHIGAN                                                           | UNIVERSITY OF MICHIGAN FRN 04-01-42                                                                  | CUSIP: 914455LR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7100000 | PA      | $7100000.00   | 0.31%             | 2042-04-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY GNMA COLL 3.25% 11-01-51                                      | CUSIP: 196480XC6<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1407391.82   | 0.06%             | 2051-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINANCE CORP                                            | IDEA PUBLIC SCHOOLS PSF-GTD 5.0% 08-15-27                                                            | CUSIP: 187145PP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $205389.80    | 0.01%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF FLORIDA LOTTERY REVENUE                                                 | STATE OF FLORIDA LOTTERY REVENUE 5.0% 07-01-27                                                       | CUSIP: 341507Q95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3175000 | PA      | $3187471.40   | 0.14%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA (STATE OF)                                                               | STATE OF FLORIDA 5.0% 07-01-27                                                                       | CUSIP: 341150U40<br>LEI: 5493004G5XFOOUT0LQ57 | Long             | DBT              | MUN               | US        |    315000 | PA      | $316210.86    | 0.01%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                                  | KENTUCKY PUBLIC ENERGY AUTHORITY (MPT) 5.0% 01-01-55                                                 | CUSIP: 74440DFC3<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   8015000 | PA      | $8500789.15   | 0.37%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO AREA TRANSN AUTH                                                  | MABION LLC (MPT) 3.05% 10-01-45                                                                      | CUSIP: 484883AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4215000 | PA      | $4216589.06   | 0.18%             | 2045-10-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP                                                             | FLORIDA HOUSING FINANCE CORP GNMA/FNMA/FHLMC 4.0% 07-01-49                                           | CUSIP: 34074MRH6<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    205000 | PA      | $205236.78    | 0.01%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KNOXVILLE TENN CMNTY DEV CORP                                                    | ECG N PETERS LP (MPT) 3.15% 05-01-46                                                                 | CUSIP: 499743CY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4009736.00   | 0.17%             | 2046-05-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| KNOXVILLE TENN CMNTY DEV CORP                                                    | DGA FIFTH AVE LP GNMA COLL HUD SECT 8 (MPT) 2.7% 12-01-64                                            | CUSIP: 499743DA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $711093.60    | 0.03%             | 2064-12-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| KANSAS STATE DEVELOPMENT FINANCE AUTHORITY                                       | EMERALD APARTMENTS LLC (MPT) 3.1% 09-01-28                                                           | CUSIP: 48542TBR0<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |    750000 | PA      | $750276.00    | 0.03%             | 2028-09-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| KING CNTY WASH SWR REV                                                           | COUNTY OF KING WA SEWER REVENUE 5.0% 07-01-41                                                        | CUSIP: 4952894R8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2680000 | PA      | $2689865.08   | 0.12%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KLEIN TEX INDPT SCH DIST                                                         | KLEIN INDEPENDENT SCHOOL DISTRICT PSF-GTD 3.0% 08-01-28                                              | CUSIP: 498531HF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500103.50   | 0.07%             | 2028-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KING CNTY WASH                                                                   | COUNTY OF KING WA 5.0% 07-01-26                                                                      | CUSIP: 49474F5K2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1726594.48   | 0.08%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY HSG CORP                                                                | KENTUCKY HOUSING CORP (MPT) 3.5% 07-01-28                                                            | CUSIP: 49131CAD4<br>LEI: 549300NTBUU903EKQ287 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3011883.00   | 0.13%             | 2028-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                                  | KENTUCKY PUBLIC ENERGY AUTHORITY (MPT) 5.25% 06-01-55                                                | CUSIP: 74440DFN9<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   4465000 | PA      | $4725180.02   | 0.21%             | 2055-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KENTUCKY HIGHER ED STUDENT LN CORP                                               | KENTUCKY HIGHER EDUCATION STUDENT LOAN CORP 4.75% 06-01-40                                           | CUSIP: 49130NHK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1970000 | PA      | $1997392.85   | 0.09%             | 2040-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KENTUCKY HIGHER ED STUDENT LN CORP                                               | KENTUCKY HIGHER EDUCATION STUDENT LOAN CORP 5.0% 06-01-32                                            | CUSIP: 49130NHF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1601207.73   | 0.07%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KATY TEX INDPT SCH DIST                                                          | KATY INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-28                                               | CUSIP: 486063Y46<br>LEI: 254900H9QSKVP2HWVL72 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2088594.00   | 0.09%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY                                  | NORTON HEALTHCARE OBLIGATED GROUP NATL 0.0% 10-01-28                                                 | CUSIP: 49126VCK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $113511.38    | 0.00%             | 2028-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPARTMENT OF AIRPORTS LOS ANGELES INTERNATIONAL AIR                 | CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS 5.0% 05-15-28                                             | CUSIP: 544445NF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3615000 | PA      | $3772932.12   | 0.16%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN                                                      | MARYLAND COMMUNITY DEVELOPMENT ADMINISTRATION 3.0% 09-01-51                                          | CUSIP: 57419TTP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $689557.40    | 0.03%             | 2051-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN                                                        | MISSOURI HOUSING DEVELOPMENT COMMISSION GNMA/FNMA/FHLMC 3.0% 05-01-52                                | CUSIP: 60637BJ76<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |   2735000 | PA      | $2697730.16   | 0.12%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MONTANA ST BRD HSG                                                               | MONTANA BOARD OF HOUSING 3.0% 12-01-51                                                               | CUSIP: 61212WPF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $212667.68    | 0.01%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY 3.0% 06-01-52                                           | CUSIP: 594654NX9<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   2060000 | PA      | $2031285.66   | 0.09%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.0% 07-01-52                                       | CUSIP: 60416TGW2<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   2480000 | PA      | $2441262.40   | 0.11%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS CLEAN WATER TRUST                                                  | MASSACHUSETTS CLEAN WATER TRUST 5.0% 02-01-27                                                        | CUSIP: 575829JD9<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |    500000 | PA      | $509146.00    | 0.02%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS VALLEY NEV WTR DIST                                                    | LAS VEGAS VALLEY WATER DISTRICT 5.0% 06-01-26                                                        | CUSIP: 517845GX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1688319.45   | 0.07%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF UNI SCH DIST                                                   | LOS ANGELES UNIFIED SCHOOL DISTRICT 5.0% 07-01-26                                                    | CUSIP: 544647CW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $296185.90    | 0.01%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS CLEAN WATER TRUST                                                  | MASSACHUSETTS CLEAN WATER TRUST 5.0% 02-01-27                                                        | CUSIP: 575829KV7<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |    750000 | PA      | $763719.00    | 0.03%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS CLEAN WATER TRUST                                                  | MASSACHUSETTS CLEAN WATER TRUST 5.0% 02-01-27                                                        | CUSIP: 575829JZ0<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |    500000 | PA      | $509146.00    | 0.02%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY                                                     | MASSACHUSETTS HOUSING FINANCE AGENCY FHA INS HUD SECT 8 3.35% 06-01-27                               | CUSIP: 57587GUQ6<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1950393.90   | 0.08%             | 2027-06-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH (HYATT REGENCY MCCORMICK PL)                 | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 5.0% 12-15-27                               | CUSIP: 592250CP7<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102896.70    | 0.00%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPARTMENT OF AIRPORTS LOS ANGELES INTERNATIONAL AIR                 | CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS 5.0% 05-15-27                                             | CUSIP: 544445SG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1258938.21   | 0.05%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPARTMENT OF AIRPORTS LOS ANGELES INTERNATIONAL AIR                 | CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS 5.0% 05-15-28                                             | CUSIP: 544445UK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521844.00    | 0.02%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA MUNICIPAL ELEC AUTH                                                      | MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA 5.0% 01-01-28                                                | CUSIP: 6262074R2<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1336876.74   | 0.06%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA MUNICIPAL ELEC AUTH                                                      | MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA AG 5.0% 07-01-29                                             | CUSIP: 62620HGW6<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    500000 | PA      | $534326.50    | 0.02%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FLA ARPT                                                                | COUNTY OF LEE FL AIRPORT REVENUE 5.0% 10-01-29                                                       | CUSIP: 523470GU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $372762.25    | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECON DEV AUTH                                                       | CENTRA HEALTH OBLIGATED GROUP 4.0% 01-01-27                                                          | CUSIP: 55123TAZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $856170.15    | 0.04%             | 2027-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA MUNICIPAL ELEC AUTH                                                      | JEA ELECTRIC SYSTEM REVENUE AG 5.0% 07-01-30                                                         | CUSIP: 62620HFZ0<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    500000 | PA      | $543537.00    | 0.02%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA MUNICIPAL ELEC AUTH                                                      | MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA AG 5.0% 07-01-31                                             | CUSIP: 62620HGY2<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    500000 | PA      | $551497.00    | 0.02%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE SEAPORT DEPT                                                          | COUNTY OF MIAMI-DADE SEAPORT DEPARTMENT 5.0% 10-01-30                                                | CUSIP: 59335KEM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2670000 | PA      | $2854000.38   | 0.12%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF MOBILE ALABAMA                       | ALABAMA POWER CO (MPT) 2.75% 07-15-34                                                                | CUSIP: 607167DX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1025927.19   | 0.04%             | 2034-07-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF WASTEWTR SYS                                                   | CITY OF LOS ANGELES CA WASTEWATER SYSTEM REVENUE 5.0% 06-01-26                                       | CUSIP: 53945CKN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500972.50    | 0.02%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPARTMENT OF AIRPORTS LOS ANGELES INTERNATIONAL AIR                 | CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS 5.0% 05-15-28                                             | CUSIP: 544445A74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2191744.80   | 0.10%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINESS FINANCE CORP                                                | CHEVRON USA INC FRN 06-01-43                                                                         | CUSIP: 60527EAA5<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800000.00    | 0.03%             | 2043-06-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                                 | BANNER HEALTH OBLIGATED GROUP (MPT) 5.0% 01-01-53                                                    | CUSIP: 56682HDV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $471744.46    | 0.02%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NEV CONVENTION & VISITORS AUTH                                         | COUNTY OF CLARK NV & CITY OF LAS VEGAS NV COMBINED ROOM TAX REVENUE 5.0% 07-01-29                    | CUSIP: 51771FAX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1296113.28   | 0.06%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS VALLEY NEV WTR DIST                                                    | LAS VEGAS VALLEY WATER DISTRICT 5.0% 06-01-31                                                        | CUSIP: 517845BQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1753344.25   | 0.08%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 5.75% 07-01-53                                      | CUSIP: 60416TQ68<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    750000 | PA      | $796513.50    | 0.03%             | 2053-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GEORGIA MUNICIPAL ELEC AUTH                                                      | MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA BAM-TCRS 5.0% 01-01-28                                       | CUSIP: 626207U85<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007892.00   | 0.09%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPARTMENT OF WATER & POWER                                    | LOS ANGELES DEPARTMENT OF WATER & POWER POWER SYSTEM REVENUE 5.0% 07-01-29                           | CUSIP: 544532GM0<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1915000 | PA      | $2039871.41   | 0.09%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPARTMENT OF AIRPORTS LOS ANGELES INTERNATIONAL AIR                 | CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS 5.0% 05-15-28                                             | CUSIP: 544445W70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $782766.00    | 0.03%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH (HYATT REGENCY MCCORMICK PL)                 | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 5.0% 12-15-27                               | CUSIP: 592250FG4<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2572417.50   | 0.11%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN                                                        | MISSOURI HOUSING DEVELOPMENT COMMISSION GNMA/FNMA/FHLMC 6.5% 05-01-54                                | CUSIP: 60637B7E4<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |    915000 | PA      | $1020003.57   | 0.04%             | 2054-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MONROE COUNTY INDUSTRIAL DEVELOPMENT CORP                                        | ANDREWS TERRACE COMMUNITY PARTNERS LP HUD SECT 8 (MPT) 5.0% 07-01-28                                 | CUSIP: 61075NAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1554189.36   | 0.07%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA                                                   | MAIN STREET NATURAL GAS INC (MPT) 5.0% 05-01-54                                                      | CUSIP: 56035DGT3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2880000 | PA      | $3086591.04   | 0.13%             | 2054-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAMAR TEX CONS INDPT SCH DIST                                                    | LAMAR CONSOLIDATED INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-29                                 | CUSIP: 513174ZC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $367040.67    | 0.02%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN                                                        | MISSOURI HOUSING DEVELOPMENT COMMISSION GNMA/FNMA/FHLMC 5.75% 05-01-55                               | CUSIP: 60637B8J2<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |   2480000 | PA      | $2701109.36   | 0.12%             | 2055-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN                                                    | UNITED METHODIST RETIREMENT HOMES INC OBLIGATED GROUP 3.75% 10-01-28                                 | CUSIP: 65820YTA4<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5001.48      | 0.00%             | 2028-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 6.0% 07-01-54                                                    | CUSIP: 6589096S0<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    425000 | PA      | $457637.45    | 0.02%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY (MPT) 5.0% 04-01-29                                            | CUSIP: 65821BAM7<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038013.00   | 0.05%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINESS FINANCE CORP                                                | CHEVRON USA INC FRN 12-01-30                                                                         | CUSIP: 60528AAV6<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3400000.00   | 0.15%             | 2030-12-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 4.0% 07-01-48                                       | CUSIP: 60416SXS4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    290000 | PA      | $290044.66    | 0.01%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN                                                        | MISSOURI HOUSING DEVELOPMENT COMMISSION GNMA/FNMA/FHLMC 4.25% 05-01-49                               | CUSIP: 60637BRC6<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |    575000 | PA      | $578294.18    | 0.03%             | 2049-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC HUD LN 4.0% 01-01-45                                | CUSIP: 60416SHX1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |     65000 | PA      | $64966.40     | 0.00%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY 4.25% 06-01-49                                          | CUSIP: 594654DQ5<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1558077.05   | 0.07%             | 2049-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN                                                      | MARYLAND COMMUNITY DEVELOPMENT ADMINISTRATION RESIDENTIAL REVENUE 4.5% 09-01-48                      | CUSIP: 57419R3A1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1033956.66   | 0.04%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN                                                      | MARYLAND COMMUNITY DEVELOPMENT ADMINISTRATION RESIDENTIAL REVENUE 4.5% 09-01-48                      | CUSIP: 57419R3B9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $439266.48    | 0.02%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 4.25% 01-01-49                                      | CUSIP: 60416SB66<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1094885.44   | 0.05%             | 2049-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 05-01-30                | CUSIP: 64972JLU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1775109.12   | 0.08%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HEALTH AND EDUCATION FACILITIES AUTHORITY ACT                      | GRANITE EDVANCE CORP 4.0% 11-01-44                                                                   | CUSIP: 64461XKM6<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    390000 | PA      | $387004.41    | 0.02%             | 2044-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HEALTH AND EDUCATION FACILITIES AUTHORITY ACT                      | GRANITE EDVANCE CORP 5.0% 11-01-29                                                                   | CUSIP: 64461XKF1<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    750000 | PA      | $784320.75    | 0.03%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 6.0% 07-01-55                                                    | CUSIP: 65889BBC7<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    270000 | PA      | $298721.52    | 0.01%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEVADA HOUSING DIVISION                                                          | 1244 CARVILLE DRIVE LLC HUD SECT 8 (MPT) 5.0% 07-01-28                                               | CUSIP: 641272HR3<br>LEI: 549300RE377OK3CTT852 | Long             | DBT              | MUN               | US        |    745000 | PA      | $761757.29    | 0.03%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                                   | 8 SPRUCE NY OWNER LLC 4.0% 12-15-31                                                                  | CUSIP: 64966TGV0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    110000 | PA      | $111379.62    | 0.00%             | 2031-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                                   | NEW YORK CITY HOUSING DEVELOPMENT CORP (MPT) 3.4% 11-01-64                                           | CUSIP: 64972KGU3<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   6185000 | PA      | $6209269.94   | 0.27%             | 2064-11-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| DORMITORY AUTHORITY OF STATE OF NEW YORK                                         | STATE OF NEW YORK SALES TAX REVENUE 5.0% 03-15-30                                                    | CUSIP: 64990AWB7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2120000 | PA      | $2316504.92   | 0.10%             | 2030-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 3.5% 07-01-46                                                    | CUSIP: 658877FQ3<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    285000 | PA      | $284158.40    | 0.01%             | 2046-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-30                | CUSIP: 64972JQN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4165000 | PA      | $4572965.92   | 0.20%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-27                | CUSIP: 64972JPU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $828672.00    | 0.04%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH                                                             | OHIO WATER DEVELOPMENT AUTHORITY DRINKING WATER ASSISTANCE FUND 5.0% 12-01-26                        | CUSIP: 67765QLJ3<br>LEI: 549300QMBH1DMY67FZ74 | Long             | DBT              | MUN               | US        |    450000 | PA      | $456363.00    | 0.02%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-31                | CUSIP: 64972JPY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $7243593.50   | 0.32%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | FAIRHILL PHASE I LP HUD SECT 8 (MPT) 3.15% 01-01-46                                                  | CUSIP: 708797BM6<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004954.00   | 0.09%             | 2046-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH                                                             | OHIO WATER DEVELOPMENT AUTHORITY DRINKING WATER ASSISTANCE FUND 5.0% 06-01-26                        | CUSIP: 67765QLH7<br>LEI: 549300QMBH1DMY67FZ74 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300583.50    | 0.01%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH                                                             | OHIO WATER DEVELOPMENT AUTHORITY DRINKING WATER ASSISTANCE FUND 5.0% 06-01-29                        | CUSIP: 67765QLP9<br>LEI: 549300QMBH1DMY67FZ74 | Long             | DBT              | MUN               | US        |    245000 | PA      | $262704.68    | 0.01%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO                                                                    | STATE OF OHIO 4.0% 03-01-27                                                                          | CUSIP: 677523EC2<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012292.00   | 0.04%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO                                                                    | UNIVERSITY HOSPITALS HEALTH SYSTEM INC OBLIGATED GROUP 5.0% 01-15-27                                 | CUSIP: 67756CGH5<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1777855.37   | 0.08%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                         | FAIRHILL PHASE II LP HUD SECT 8 (MPT) 3.15% 01-01-46                                                 | CUSIP: 708797BN4<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   3335000 | PA      | $3343260.80   | 0.15%             | 2046-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY HOUSING FINANCE AUTHORITY                                      | EVERGLADES TOWNHOMES LP 2.8% 02-01-27                                                                | CUSIP: 696513AV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996415.00    | 0.04%             | 2027-02-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO                                                                    | UNIVERSITY HOSPITALS HEALTH SYSTEM INC OBLIGATED GROUP 5.0% 01-15-31                                 | CUSIP: 67756CGM4<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   4125000 | PA      | $4476883.13   | 0.19%             | 2031-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO HIGHER EDUCATIONAL FACILITY COMMISSION                                      | OTTERBEIN HOMES OBLIGATED GROUP 4.0% 07-01-29                                                        | CUSIP: 677510BS7<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    515000 | PA      | $527588.15    | 0.02%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE PUBLIC WORKS BOARD                                              | STATE OF CALIFORNIA 5.0% 09-01-29                                                                    | CUSIP: 13068XHD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1402887.20   | 0.06%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                                | DEL SUR FAMILY HOUSING LP (MPT) 5.0% 05-01-54                                                        | CUSIP: 13034DAC8<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |    695000 | PA      | $699548.78    | 0.03%             | 2054-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO MIDWAY INTERNATIONAL AIRPORT                                             | CHICAGO MIDWAY INTERNATIONAL AIRPORT 5.0% 01-01-28                                                   | CUSIP: 167562SZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4045000 | PA      | $4188140.42   | 0.18%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO MIDWAY INTERNATIONAL AIRPORT                                             | CHICAGO MIDWAY INTERNATIONAL AIRPORT 5.0% 01-01-27                                                   | CUSIP: 167562SY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4562136.00   | 0.20%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY                                 | EPISCOPAL COMMUNITIES & SERVICES FOR SENIORS OBLIGATED GROUP 3.85% 11-15-27                          | CUSIP: 13032UJ82<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    110000 | PA      | $110030.91    | 0.00%             | 2027-11-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                                  | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.0% 05-01-54                                  | CUSIP: 13013JDR4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   6655000 | PA      | $7042327.66   | 0.31%             | 2054-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINANCE CORP                                            | INTERNATIONAL LEADERSHIP OF TEXAS INC PSF-GTD 5.0% 08-15-29                                          | CUSIP: 187145SG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1409183.88   | 0.06%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINANCE CORP                                            | INTERNATIONAL LEADERSHIP OF TEXAS INC PSF-GTD 5.0% 08-15-30                                          | CUSIP: 187145SH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2270000 | PA      | $2446546.98   | 0.11%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINANCE CORP                                            | INTERNATIONAL LEADERSHIP OF TEXAS INC PSF-GTD 5.0% 08-15-27                                          | CUSIP: 187145SE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1437728.60   | 0.06%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASS CNTY N D JT WTR RES DIST                                                    | CASS COUNTY JOINT WATER RESOURCE DISTRICT CNTY GTD 3.45% 04-01-27                                    | CUSIP: 14805PBA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6290000 | PA      | $6291063.01   | 0.27%             | 2027-04-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH                                                      | REPUBLIC SERVICES INC (MPT) 3.875% 03-01-54                                                          | CUSIP: 13048RAP2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2757012.50   | 0.12%             | 2054-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY                     | CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY 4.125% 11-15-40                         | CUSIP: 207743XZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1068797.75   | 0.05%             | 2040-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINANCE CORP                                            | IDEA PUBLIC SCHOOLS PSF-GTD 5.0% 08-15-26                                                            | CUSIP: 187145TP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $603455.40    | 0.03%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY ILL SALES TAX REV                                                      | COUNTY OF COOK IL SALES TAX REVENUE 5.0% 11-15-28                                                    | CUSIP: 213248EB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055746.00   | 0.05%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE UNIVERSITY                                                      | CALIFORNIA STATE UNIVERSITY (MPT) 0.55% 11-01-49                                                     | CUSIP: 13077C4K7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $933041.03    | 0.04%             | 2049-11-01      | Fixed         | 0.55%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL WATERWORKS REVENUE                                            | CITY OF CHICAGO IL WATERWORKS REVENUE 5.0% 11-01-30                                                  | CUSIP: 167736Y35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1089677.28   | 0.05%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL WATERWORKS REVENUE                                            | CITY OF CHICAGO IL WATERWORKS REVENUE 5.0% 11-01-29                                                  | CUSIP: 167736Y27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2575000 | PA      | $2751372.05   | 0.12%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY 3.1% 10-01-27                                                 | CUSIP: 19648GRH7<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   5295000 | PA      | $5307718.59   | 0.23%             | 2027-10-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                                  | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.0% 08-01-55                                  | CUSIP: 13013JEB8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4465000 | PA      | $4658959.60   | 0.20%             | 2055-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA (STATE OF)                                                               | STATE OF FLORIDA 4.0% 06-01-42                                                                       | CUSIP: 34153QJB3<br>LEI: 5493004G5XFOOUT0LQ57 | Long             | DBT              | MUN               | US        |   1985000 | PA      | $2016920.79   | 0.09%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HOUSING AND FINANCE ASSOCIATION                                            | IDAHO HOUSING & FINANCE ASSOCIATION GNMA COLL 4.0% 01-01-50                                          | CUSIP: 45129YN44<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    335000 | PA      | $337037.81    | 0.01%             | 2050-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KRUM INDEPENDENT SCHOOL DISTRICT                                                 | KRUM INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-34                                               | CUSIP: 501098UW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1141351.00   | 0.05%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS STATE DEVELOPMENT FINANCE AUTHORITY                                       | 3100 MICHIGAN APARTMENTS LP (MPT) 2.95% 09-01-59                                                     | CUSIP: 48542TBN9<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |   2375000 | PA      | $2369105.25   | 0.10%             | 2059-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| ALASKA HOUSING FINANCE CORP                                                      | ALASKA HOUSING FINANCE CORP GNMA/FNMA/FHLMC 5.75% 12-01-52                                           | CUSIP: 01170RNT5<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    965000 | PA      | $1020022.37   | 0.04%             | 2052-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ALASKA INDL DEV & EXPT AUTH                                                      | ALASKA ELECTRIC LIGHT & POWER CO 5.0% 01-01-33                                                       | CUSIP: 011908DZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $950437.00    | 0.04%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CO                                                   | TRINITY BASIN PREPARATORY INC PSF-GTD 5.0% 08-15-26                                                  | CUSIP: 041807EM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502879.50    | 0.02%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEN TEX INDPT SCH DIST                                                         | ALLEN INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-27                                              | CUSIP: 018106ZC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2065000 | PA      | $2103830.26   | 0.09%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX AIRPORT SYSTEM REVENUE                                         | CITY OF AUSTIN TX AIRPORT SYSTEM REVENUE 5.0% 11-15-27                                               | CUSIP: 052398HZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1468030.73   | 0.06%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX AIRPORT SYSTEM REVENUE                                         | CITY OF AUSTIN TX AIRPORT SYSTEM REVENUE 5.0% 11-15-28                                               | CUSIP: 052398JA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $403948.55    | 0.02%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA URBAN RESIDENTIAL FINANCE AUTHORITY                                      | AUBURN SQUARE LLC 3.15% 02-01-30                                                                     | CUSIP: 04785VCJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1681205.88   | 0.07%             | 2030-02-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| ALABAMA HSG FIN AUTH                                                             | FRED MARSHALL COURT LTD (MPT) 3.15% 12-01-28                                                         | CUSIP: 01030PHD1<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |    550000 | PA      | $551297.45    | 0.02%             | 2028-12-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUTH                                                  | ARLINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (MPT) 3.1% 12-01-55                                | CUSIP: 04144PDY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1130004.52   | 0.05%             | 2055-12-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| ARIZONA BRD REGENTS                                                              | UNIVERSITY OF ARIZONA 5.0% 06-01-27                                                                  | CUSIP: 040484L70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2051018.00   | 0.09%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALVIN TEX INDPT SCH DIST                                                         | ALVIN INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-28                                              | CUSIP: 0224474E3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2087520.00   | 0.09%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALVIN TEX INDPT SCH DIST                                                         | ALVIN INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-15-29                                              | CUSIP: 0224474F0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2958458.03   | 0.13%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST                                                       | BLACK BELT ENERGY GAS DISTRICT (MPT) 5.25% 05-01-55                                                  | CUSIP: 09182TDL8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2076214.00   | 0.09%             | 2055-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BURBANK-GLENDALE-PASADENA AIRPORT AUTHORITY BRICK CAMPAIGN                       | BURBANK-GLENDALE-PASADENA AIRPORT AUTHORITY BRICK CAMPAIGN 5.0% 07-01-31                             | CUSIP: 120827DP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090437.00   | 0.05%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST                                                       | BLACK BELT ENERGY GAS DISTRICT (MPT) 5.0% 05-01-55                                                   | CUSIP: 09182TDU8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   3405000 | PA      | $3611407.70   | 0.16%             | 2055-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY                                 | WASTE MANAGEMENT INC 4.2% 07-01-31                                                                   | CUSIP: 130536LV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2023582.00   | 0.09%             | 2031-07-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH                                                      | CALIFORNIA MUNICIPAL FINANCE AUTHORITY (MPT) 3.3% 02-01-39                                           | CUSIP: 13048RAC1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1758617.06   | 0.08%             | 2039-02-01      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| CALIFORNIA (STATE OF)                                                            | STATE OF CALIFORNIA 3.0% 12-01-50                                                                    | CUSIP: 13063DYS1<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   2115000 | PA      | $2100704.72   | 0.09%             | 2050-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL AREA HOUSING FINANCE CORP                                                | LDG REDWOOD LP (MPT) 3.2% 01-01-41                                                                   | CUSIP: 139726CP6<br>LEI: 549300XICE1XLI0VXV87 | Long             | DBT              | MUN               | US        |    545000 | PA      | $545261.60    | 0.02%             | 2041-01-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICUT                                                             | STATE OF CONNECTICUT 4.0% 01-15-28                                                                   | CUSIP: 20772KLS6<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1490023.31   | 0.06%             | 2028-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA INFRASTRUCTURE & ECONOMIC DEVELOPMENT BANK                            | MUSEUM ASSOCIATES (MPT) FRN 12-01-50                                                                 | CUSIP: 13034AN48<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    945000 | PA      | $944937.63    | 0.04%             | 2050-12-01      | Variable      | 3.79%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH                                                   | CENTRAL TEXAS REGIONAL MOBILITY AUTHORITY 5.0% 01-01-27                                              | CUSIP: 155498LY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1501246.50   | 0.07%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                                      | CONNECTICUT HOUSING FINANCE AUTHORITY 3.0% 11-15-49                                                  | CUSIP: 20775HHX4<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    835000 | PA      | $824274.43    | 0.04%             | 2049-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | COLORADO HOUSING AND FINANCE AUTHORITY GNMA 3.0% 11-01-51                                            | CUSIP: 196480TW7<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1023859.26   | 0.04%             | 2051-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL DAUPHIN PA SCH DIST                                                      | CENTRAL DAUPHIN SCHOOL DISTRICT ST AID WITHHLDG 5.0% 02-01-27                                        | CUSIP: 153300XP8<br>LEI: 549300B7BTSSV63QDZ15 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1000489.42   | 0.04%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY                     | CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY 5.0% 11-15-30                           | CUSIP: 207743WH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $466558.84    | 0.02%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY                     | CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY 5.0% 11-15-29                           | CUSIP: 207743WG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $587937.28    | 0.03%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY                     | CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY 5.0% 11-15-27                           | CUSIP: 207743WE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $767074.50    | 0.03%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY                     | CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN AUTHORITY 5.0% 11-15-28                           | CUSIP: 207743WF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $565325.23    | 0.02%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA (STATE OF)                                                            | STATE OF CALIFORNIA 5.0% 10-01-31                                                                    | CUSIP: 13063ESX5<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   5870000 | PA      | $6555674.70   | 0.29%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE PUBLIC WORKS BOARD                                              | CALIFORNIA STATE PUBLIC WORKS BOARD 5.0% 09-01-32                                                    | CUSIP: 13068XSQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7265000 | PA      | $8220434.68   | 0.36%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE PUBLIC WORKS BOARD                                              | CALIFORNIA STATE PUBLIC WORKS BOARD 5.0% 09-01-31                                                    | CUSIP: 13068XSP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5800000 | PA      | $6469482.40   | 0.28%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HOUSING AND FINANCE AUTHORITY                                           | CREEKSIDE LLLP (MPT) 3.0% 05-01-48                                                                   | CUSIP: 19647PEA7<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    860000 | PA      | $860000.00    | 0.04%             | 2048-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH                                                      | PRG - POTRERO PROPERTIES LLC 5.0% 06-30-32                                                           | CUSIP: 13048V6U7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1666315.10   | 0.07%             | 2032-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA (STATE OF)                                                            | STATE OF CALIFORNIA 4.0% 09-01-31                                                                    | CUSIP: 13063CD72<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1306602.54   | 0.06%             | 2031-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA WATER AND SEWER AUTHORITY                                   | DISTRICT OF COLUMBIA WATER & SEWER AUTHORITY (MPT) 3.0% 10-01-57                                     | CUSIP: 254845TJ9<br>LEI: 549300OT2FIJQJ5PSH71 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3990888.00   | 0.17%             | 2057-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE                                | CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE 5.0% 11-15-28                                      | CUSIP: 249182RB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $132473.63    | 0.01%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE                                | CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE 5.0% 11-15-28                                      | CUSIP: 249182QD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4729365.00   | 0.21%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA STUDENT LOAN LIQUIDITY CORP                                                 | IOWA STUDENT LOAN LIQUIDITY CORP 5.0% 12-01-32                                                       | CUSIP: 462590PQ7<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    725000 | PA      | $772051.78    | 0.03%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY                                | CUMBERLAND CROSSING FISHERS LP (MPT) 2.9% 03-01-29                                                   | CUSIP: 45506CBV8<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1776196.14   | 0.08%             | 2029-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| ILLINOIS (STATE OF)                                                              | STATE OF ILLINOIS 5.25% 09-01-32                                                                     | CUSIP: 452153NS4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3366135.00   | 0.15%             | 2032-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | RUSH SYSTEM FOR HEALTH OBLIGATED GROUP 5.0% 11-15-30                                                 | CUSIP: 45204FS89<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   6250000 | PA      | $6673362.50   | 0.29%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FINANCE AUTHORITY                                                     | ASCENSION HEALTH CREDIT GROUP 5.0% 11-15-29                                                          | CUSIP: 45506EQF3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3229386.00   | 0.14%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FINANCE AUTHORITY                                                     | ASCENSION HEALTH CREDIT GROUP 5.0% 11-15-28                                                          | CUSIP: 45506EQE6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1759918.32   | 0.08%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA SECONDARY MKT EDL LNS INC                                                | INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 4.0% 06-01-46                                       | CUSIP: 45505NAS3<br>LEI: 549300M19IK303TD4597 | Long             | DBT              | MUN               | US        |    335000 | PA      | $324721.87    | 0.01%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA SECONDARY MKT EDL LNS INC                                                | INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 5.0% 06-01-29                                       | CUSIP: 45505NAL8<br>LEI: 549300M19IK303TD4597 | Long             | DBT              | MUN               | US        |    340000 | PA      | $352683.02    | 0.02%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA SECONDARY MKT EDL LNS INC                                                | INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 5.0% 06-01-28                                       | CUSIP: 45505NAK0<br>LEI: 549300M19IK303TD4597 | Long             | DBT              | MUN               | US        |    255000 | PA      | $261778.67    | 0.01%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | LAKESIDE PRESERVATION LLC (MPT) 3.15% 08-01-29                                                       | CUSIP: 45203LFT5<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    610000 | PA      | $611395.07    | 0.03%             | 2029-08-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | ISLAND TERRACE 4% PRESERVATION ASSOCIATES LP (MPT) 2.8% 04-01-29                                     | CUSIP: 45203LFV0<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    680000 | PA      | $676339.56    | 0.03%             | 2029-04-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| THE ILLINOIS STATE TOLL HIGHWAY AUTHORITY                                        | ILLINOIS STATE TOLL HIGHWAY AUTHORITY 5.0% 01-01-40                                                  | CUSIP: 452252KS7<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1277787.15   | 0.06%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF INDIANAPOLIS DEPARTMENT OF PUBLIC UTILITIES WATER SYSTEM REVENUE         | CITY OF INDIANAPOLIS DEPARTMENT OF PUBLIC UTILITIES WATER SYSTEM REVENUE 5.0% 10-01-28               | CUSIP: 455412AL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4036388.00   | 0.18%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INGLEWOOD REDEVELOPMENT AGENCY SUCCESSOR AGENCY                                  | INGLEWOOD REDEVELOPMENT AGENCY SUCCESSOR AGENCY BAM 5.0% 05-01-28                                    | CUSIP: 34637QAL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1524933.05   | 0.07%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | UNIVERSITY OF CHICAGO MEDICAL CENTER OBLIGATED GROUP FRN 08-01-44                                    | CUSIP: 45200F6J3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2200000.00   | 0.10%             | 2044-08-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FINANCE AUTHORITY                                                     | STATE OF INDIANA 5.0% 06-01-30                                                                       | CUSIP: 45470RDM5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1177599.96   | 0.05%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACILITIES AUTHORITY                                                | ST LUKE'S HEALTH SYSTEM LTD OBLIGATED GROUP 5.0% 03-01-37                                            | CUSIP: 451295ZW2<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    280000 | PA      | $289490.04    | 0.01%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA FINANCE AUTHORITY                                                           | IOWA HEALTH SYSTEM OBLIGATED GROUP FRN 02-15-41                                                      | CUSIP: 46246K5H1<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2400000.00   | 0.10%             | 2041-02-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY                                | INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC 4.25% 07-01-48                     | CUSIP: 45505TNH0<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |    770000 | PA      | $774282.74    | 0.03%             | 2048-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                                            | ILLINOIS HOUSING DEVELOPMENT AUTHORITY FHLMC/FNMA/GNMA 4.25% 10-01-49                                | CUSIP: 45201Y2K2<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    110000 | PA      | $110835.01    | 0.00%             | 2049-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GEORGIA MUNICIPAL ELEC AUTH                                                      | MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA 4.0% 01-01-27                                                | CUSIP: 62620HBW1<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    270000 | PA      | $272496.42    | 0.01%             | 2027-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY OHIO                                                             | DAYTON CHILDREN'S HOSPITAL OBLIGATED GROUP 5.0% 08-01-29                                             | CUSIP: 613520NN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $186171.30    | 0.01%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN                                                        | MISSOURI HOUSING DEVELOPMENT COMMISSION GNMA/FNMA/FHLMC 3.25% 11-01-52                               | CUSIP: 60637BN30<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |    630000 | PA      | $624789.27    | 0.03%             | 2052-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MAINE STATE HOUSING AUTHORITY                                                    | MAINE STATE HOUSING AUTHORITY 3.0% 11-15-51                                                          | CUSIP: 56052FWS0<br>LEI: 549300SO05LH6D240016 | Long             | DBT              | MUN               | US        |   2430000 | PA      | $2399860.71   | 0.10%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA                                                   | MAIN STREET NATURAL GAS INC (MPT) 4.0% 07-01-52                                                      | CUSIP: 56035DDH2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1266320.00   | 0.06%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY                                                     | MASSACHUSETTS HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.0% 06-01-47                                   | CUSIP: 57587GLR4<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    635000 | PA      | $627572.41    | 0.03%             | 2047-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN                                                      | MARYLAND COMMUNITY DEVELOPMENT ADMINISTRATION RESIDENTIAL REVENUE 3.0% 09-01-51                      | CUSIP: 57419TVL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2472000 | PA      | $2433355.22   | 0.11%             | 2051-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.0% 07-01-52                                       | CUSIP: 60416TLS5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1767403.67   | 0.08%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MONTANA ST BRD HSG                                                               | MONTANA BOARD OF HOUSING 3.0% 06-01-52                                                               | CUSIP: 61212WQM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    885000 | PA      | $874326.02    | 0.04%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MIAMI UNIV OHIO                                                                  | MIAMI UNIVERSITY 5.0% 09-01-27                                                                       | CUSIP: 593791KS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $592723.23    | 0.03%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA                                                   | MAIN STREET NATURAL GAS INC (MPT) 4.0% 08-01-52                                                      | CUSIP: 56035DDP4<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3248160.50   | 0.14%             | 2052-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                         | MINNESOTA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.0% 07-01-52                                       | CUSIP: 60416TPK8<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   3325000 | PA      | $3270287.13   | 0.14%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE                      | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE 5.0% 10-01-27                            | CUSIP: 592647KY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $504000.28    | 0.02%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE                      | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE 5.0% 10-01-26                            | CUSIP: 592647KX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2017004.00   | 0.09%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY                                                     | MASSACHUSETTS HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 5.0% 06-01-50                                   | CUSIP: 57587GMV4<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    280000 | PA      | $290337.32    | 0.01%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY 5.0% 06-01-53                                           | CUSIP: 594654RG2<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2080482.00   | 0.09%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH                                                      | MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY 3.625% 07-01-38                                        | CUSIP: 57563RTD1<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   2490000 | PA      | $2447991.21   | 0.11%             | 2038-07-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MINNESOTA (STATE OF)                                                             | STATE OF MINNESOTA 5.0% 08-01-28                                                                     | CUSIP: 60412AYU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527215.00    | 0.02%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                     | MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY 5.5% 06-01-53                                           | CUSIP: 594654SG1<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   4280000 | PA      | $4509707.60   | 0.20%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH (HYATT REGENCY MCCORMICK PL)                 | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 5.0% 12-15-27                               | CUSIP: 592250FF6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    675000 | PA      | $676277.10    | 0.03%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HSG FIN AUTH                                                    | NEW HAMPSHIRE HOUSING FINANCE AUTHORITY GNMA/FNMA/FHLMC COLL 6.0% 07-01-53                           | CUSIP: 64469DQ79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $355933.15    | 0.02%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY                                  | NEW YORK CITY WATER & SEWER SYSTEM FRN 06-15-53                                                      | CUSIP: 64972GC85<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    550000 | PA      | $550000.00    | 0.02%             | 2053-06-15      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY                                                          | NEW YORK STATE HOUSING FINANCE AGENCY SONYMA HUD SECT 8 (MPT) 3.6% 11-01-62                          | CUSIP: 64987JD99<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   3410000 | PA      | $3410542.19   | 0.15%             | 2062-11-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE FRN 02-01-45                 | CUSIP: 64971WUK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1800000.00   | 0.08%             | 2045-02-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY                                                  | NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY 6.0% 10-01-55                                           | CUSIP: 64613AJP8<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    490000 | PA      | $529272.52    | 0.02%             | 2055-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 4.25% 12-01-45                              | CUSIP: 646080YB1<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   2555000 | PA      | $2547869.00   | 0.11%             | 2045-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 5.0% 12-01-27                               | CUSIP: 646080XM8<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1312625.25   | 0.06%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH                                          | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY 5.0% 12-01-27                               | CUSIP: 646080XU0<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   2440000 | PA      | $2512004.40   | 0.11%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 05-01-28                | CUSIP: 64972JHK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1985000 | PA      | $2077282.65   | 0.09%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH EAST INDPT SCH DIST TEX                                                    | NORTH EAST INDEPENDENT SCHOOL DISTRICT PSF-GTD (MPT) 3.75% 08-01-49                                  | CUSIP: 659155QL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $958146.25    | 0.04%             | 2049-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 6.25% 01-01-55                                 | CUSIP: 6582077Q2<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    845000 | PA      | $937117.68    | 0.04%             | 2055-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 6.25% 01-01-55                                                   | CUSIP: 6589098C3<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2790742.09   | 0.12%             | 2055-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                                   | NEW YORK CITY HOUSING DEVELOPMENT CORP HUD SECT 8 (MPT) 3.7% 05-01-64                                | CUSIP: 64972KDQ5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   4185000 | PA      | $4224071.16   | 0.18%             | 2064-05-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| NORTH NATOMAS CMNTY FACS DIST CALIF                                              | CITY OF SACRAMENTO CA NORTH NATOMAS COMMUNITY FACILITIES DISTRICT NO 4 AG 5.0% 09-01-28              | CUSIP: 661253CM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1581376.50   | 0.07%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-28                | CUSIP: 64972JJK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4300000 | PA      | $4551292.00   | 0.20%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-30                | CUSIP: 64972JJM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1646926.50   | 0.07%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 08-01-32                                                                    | CUSIP: 64966SFV3<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   5570000 | PA      | $6231220.27   | 0.27%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY 5.0% 08-01-31                                                                    | CUSIP: 64966SFU5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1878069.90   | 0.08%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTG FIN AUTH                                                          | NM MFA SFM AMT PAC (100-500) PSA 16A-2 SF 3.5% 03-01-46                                              | CUSIP: 6472004R2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $104617.91    | 0.00%             | 2046-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | WEAVER-PFM PORTFOLIO (MPT) 4.0% 03-01-28                                                             | CUSIP: 65821BAN5<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   2680000 | PA      | $2700327.80   | 0.12%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEXAS HIGHER EDUCATION AUTHORITY INC                                       | NORTH TEXAS HIGHER EDUCATION AUTHORITY INC 4.125% 06-01-45                                           | CUSIP: 66286UAF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $492357.83    | 0.02%             | 2045-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE FRN 02-01-45                 | CUSIP: 64971WUM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4055000 | PA      | $4055000.00   | 0.18%             | 2045-02-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                      | NORTH DAKOTA HOUSING FINANCE AGENCY 4.0% 01-01-47                                                    | CUSIP: 658909KZ8<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    580000 | PA      | $579797.58    | 0.03%             | 2047-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE FINANCE AUTHORITY                                                 | TRINITY HEALTH CORP OBLIGATED GROUP (MPT) 2.4% 12-01-34                                              | CUSIP: 59447PXQ9<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   6445000 | PA      | $6445000.00   | 0.28%             | 2034-12-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY MD HSG OPPNTYS COMMN                                             | MONTGOMERY COUNTY HOUSING OPPORTUNITIES COMMISSION SINGLE FAMILY REVENUE 4.0% 07-01-49               | CUSIP: 6133495W5<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |    990000 | PA      | $991270.17    | 0.04%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY MD                                                               | TRINITY HEALTH CORP OBLIGATED GROUP (MPT) 2.4% 12-01-41                                              | CUSIP: 61336PES6<br>LEI: 549300GNX5SDUEBKPK13 | Long             | DBT              | MUN               | US        |   8055000 | PA      | $8055000.00   | 0.35%             | 2041-12-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA (STATE OF)                                                        | STATE OF NORTH CAROLINA 5.0% 05-01-27                                                                | CUSIP: 65829QGB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3110000 | PA      | $3184459.62   | 0.14%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA (STATE OF)                                                        | STATE OF NORTH CAROLINA 5.0% 05-01-28                                                                | CUSIP: 65829QGC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2670000 | PA      | $2799457.62   | 0.12%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA (STATE OF)                                                        | STATE OF NORTH CAROLINA 5.0% 06-01-28                                                                | CUSIP: 6582566E7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2366662.50   | 0.10%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA (STATE OF)                                                        | STATE OF NORTH CAROLINA 5.0% 06-01-29                                                                | CUSIP: 6582566F4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4300144.00   | 0.19%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTG FIN AUTH                                                          | NEW MEXICO MORTGAGE FINANCE AUTHORITY GNMA/FNMA/FHLMC (MPT) 3.0% 09-01-57                            | CUSIP: 64720AAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2655069.03   | 0.12%             | 2057-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                                   | NEW YORK CITY HOUSING DEVELOPMENT CORP (MPT) 3.25% 11-01-65                                          | CUSIP: 64972KNM3<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5020455.00   | 0.22%             | 2065-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-28                | CUSIP: 64972JYU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2413243.20   | 0.10%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-27                | CUSIP: 64972JYT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5980000 | PA      | $6194323.20   | 0.27%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV                       | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE 5.0% 11-01-33                | CUSIP: 64972JYZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5680775.00   | 0.25%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TWY AUTH                                                             | NEW YORK STATE THRUWAY AUTHORITY 5.0% 01-01-28                                                       | CUSIP: 650010DD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1920000 | PA      | $2001037.44   | 0.09%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE HIGHER EDUCATION FINANCE CORP                                           | TEXAS CHRISTIAN UNIVERSITY 5.0% 03-15-28                                                             | CUSIP: 645438CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522178.00    | 0.02%             | 2028-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HIGHER ED ASSISTANCE AGY                                         | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY 4.75% 06-01-46                                       | CUSIP: 70878CBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $137441.92    | 0.01%             | 2046-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HIGHER ED ASSISTANCE AGY                                         | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY 5.0% 06-01-30                                        | CUSIP: 70878CBM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2550000 | PA      | $2674883.70   | 0.12%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PINELLAS COUNTY HOUSING FINANCE AUTHORITY                                        | SAH INDIGO HOLDINGS LP (MPT) 3.4% 07-01-28                                                           | CUSIP: 72317BAQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2605000 | PA      | $2616498.47   | 0.11%             | 2028-07-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| PINAL CNTY ARIZ                                                                  | COUNTY OF PINAL AZ PLEDGED REVENUE BAM 5.0% 08-01-28                                                 | CUSIP: 72205RHA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $763646.85    | 0.03%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PINAL CNTY ARIZ                                                                  | COUNTY OF PINAL AZ PLEDGED REVENUE BAM 5.0% 08-01-29                                                 | CUSIP: 72205RHB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $806322.00    | 0.04%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HIGHER EDUCATION FACILITIES AUTHORITY                               | PENNSYLVANIA'S STATE SYSTEM OF HIGHER EDUCATION 5.0% 06-15-30                                        | CUSIP: 70917TND9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $596392.30    | 0.03%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMISSION                                              | PENNSYLVANIA TURNPIKE COMMISSION (MPT) 5.0% 12-01-45                                                 | CUSIP: 709225RH1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1365930.30   | 0.06%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMISSION                                              | PENNSYLVANIA TURNPIKE COMMISSION 5.0% 12-01-31                                                       | CUSIP: 709225PZ3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1389790.00   | 0.06%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCE WILLIAM COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                           | COUNTY OF PRINCE WILLIAM VA 5.0% 10-01-27                                                            | CUSIP: 741752CU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2070000 | PA      | $2141121.06   | 0.09%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND STUDENT LOAN AUTHORITY                                              | RHODE ISLAND STUDENT LOAN AUTHORITY 4.125% 12-01-43                                                  | CUSIP: 762323DD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $225693.77    | 0.01%             | 2043-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND HOUSING AND MORTGAGE FINANCE CORP                                   | RHODE ISLAND HOUSING & MORTGAGE FINANCE CORP FHA 542(C) (MPT) 3.6% 10-01-54                          | CUSIP: 76221SEX5<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1750535.50   | 0.08%             | 2054-10-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| RALEIGH N C HSG AUTH                                                             | WCO TRYON LP (MPT) 2.95% 09-01-59                                                                    | CUSIP: 751115CB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3790000 | PA      | $3776689.52   | 0.16%             | 2059-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| RUTHERFORD CNTY TENN HEALTH & EDL FACS BRD                                       | ASCENSION HEALTH CREDIT GROUP (MPT) 5.0% 11-15-48                                                    | CUSIP: 78324PAK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3540000 | PA      | $3827802.00   | 0.17%             | 2048-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND REDEVELOPMENT & HOUSING AUTHORITY                                       | STANDARD SCHOOL ROAD VENTURE LP (MPT) 3.1% 12-01-55                                                  | CUSIP: 76543PBC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $585010.53    | 0.03%             | 2055-12-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BANK WATER POLLUTION CONTROL REVOLVING FUND          | RHODE ISLAND INFRASTRUCTURE BANK STATE REVOLVING FUND 5.0% 10-01-28                                  | CUSIP: 76223MEA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $593170.48    | 0.03%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSPORTATION AUTHORITY ILL                                            | REGIONAL TRANSPORTATION AUTHORITY NATL 6.0% 07-01-29                                                 | CUSIP: 759911XV7<br>LEI: 549300FOIPI62F5YFO59 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1052401.00   | 0.05%             | 2029-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RAILSPLITTER TOBACCO SETTLEMENT AUTH ILL                                         | RAILSPLITTER TOBACCO SETTLEMENT AUTHORITY 5.0% 06-01-27                                              | CUSIP: 75076PAZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001911.00   | 0.04%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND HOUSING AND MORTGAGE FINANCE CORP                                   | RHODE ISLAND HOUSING & MORTGAGE FINANCE CORP GNMA/FNMA/FHLMC 4.0% 10-01-48                           | CUSIP: 76221RYT4<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    190000 | PA      | $191127.08    | 0.01%             | 2048-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AIRPORT COMMISSION OF THE CITY AND COUNTY OF SAN FRANCISCO                       | SAN FRANCISCO CITY & COUNTY AIRPORT COMM-SAN FRANCISCO INTERNATIONAL AIRPORT 5.0% 05-01-27           | CUSIP: 79766DRP6<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    780000 | PA      | $795257.58    | 0.03%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY                                       | LOS ANGELES DEPARTMENT OF WATER & POWER POWER SYSTEM REVENUE 5.0% 07-01-29                           | CUSIP: 84247PKZ3<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1597810.50   | 0.07%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DEV AUTH                                             | SOUTH CAROLINA STATE HOUSING FINANCE & DEVELOPMENT AUTHORITY 4.0% 07-01-50                           | CUSIP: 83712DK70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $735878.69    | 0.03%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DEV AUTH                                             | SOUTH CAROLINA STATE HOUSING FINANCE & DEVELOPMENT AUTHORITY 3.25% 01-01-52                          | CUSIP: 83712DP26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $790637.84    | 0.03%             | 2052-01-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| TEXAS (STATE OF)                                                                 | STATE OF TEXAS 5.0% 10-01-28                                                                         | CUSIP: 8827242C0<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1435696.24   | 0.06%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV BRD                                                              | STATE WATER IMPLEMENTATION REVENUE FUND FOR TEXAS 5.0% 10-15-33                                      | CUSIP: 88285AFE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1712097.00   | 0.07%             | 2033-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV BRD                                                              | STATE WATER IMPLEMENTATION REVENUE FUND FOR TEXAS 5.0% 10-15-37                                      | CUSIP: 88285AFN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2480000 | PA      | $2801524.56   | 0.12%             | 2037-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOMBALL BUSINESS IMPROVEMENT DISTRICT NO 1                                       | TOMBALL BUSINESS IMPROVEMENT DISTRICT NO 1 6.0% 11-15-29                                             | CUSIP: 88984NAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $304340.68    | 0.01%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TOMBALL BUSINESS IMPROVEMENT DISTRICT NO 1                                       | TOMBALL BUSINESS IMPROVEMENT DISTRICT NO 1 6.5% 11-15-28                                             | CUSIP: 88984NAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $285361.54    | 0.01%             | 2028-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TOMBALL BUSINESS IMPROVEMENT DISTRICT NO 1                                       | TOMBALL BUSINESS IMPROVEMENT DISTRICT NO 1 6.5% 11-15-30                                             | CUSIP: 88984NAF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $326831.74    | 0.01%             | 2030-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY HOUSING FINANCE CORP                                              | 6225 SHADY OAKS MANOR DRIVE TX OWNER LP (MPT) 3.6% 02-01-43                                          | CUSIP: 876394UP0<br>LEI: 54930055IA4O4ZTEN156 | Long             | DBT              | MUN               | US        |   3125000 | PA      | $3148878.13   | 0.14%             | 2043-02-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & TUNNEL AUTHORITY                                             | TRIBOROUGH BRIDGE & TUNNEL AUTHORITY REAL ESTATE TRANSFER TAX 5.0% 12-01-31                          | CUSIP: 896032AG4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1800046.40   | 0.08%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST AFFORDABLE HSG CORP                                                     | LA VISTA DE LOPEZ LP HUD SECT 8 FHA 221(D4) 2.8% 02-01-27                                            | CUSIP: 88271FFN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $244504.61    | 0.01%             | 2027-02-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY                                                            | TENNESSEE HOUSING DEVELOPMENT AGENCY GNMA/FNMA/FHLMC 6.0% 01-01-56                                   | CUSIP: 88046KQU3<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |   2185000 | PA      | $2394493.43   | 0.10%             | 2056-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BAY AREA TOLL AUTHORITY                                                          | BAY AREA TOLL AUTHORITY (MPT) FRN 04-01-56                                                           | CUSIP: 072024XT4<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |    200000 | PA      | $199278.60    | 0.01%             | 2056-04-01      | Variable      | 3.39%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST                                                       | BLACK BELT ENERGY GAS DISTRICT (MPT) 4.0% 04-01-53                                                   | CUSIP: 09182TBC0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6053976.00   | 0.26%             | 2053-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST                                                       | BLACK BELT ENERGY GAS DISTRICT (MPT) 4.0% 07-01-52                                                   | CUSIP: 09182NCB4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   4595000 | PA      | $4643311.83   | 0.20%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST                                                       | BLACK BELT ENERGY GAS DISTRICT (MPT) 5.5% 11-01-53                                                   | CUSIP: 09182TBT3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    440000 | PA      | $460164.32    | 0.02%             | 2053-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITY OF BAYONNE NJ                                                               | CITY OF BAYONNE NJ BAM ST AID WITHHLDG 5.0% 07-01-31                                                 | CUSIP: 072887V58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003918.00   | 0.04%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF BAYONNE NJ                                                               | CITY OF BAYONNE NJ BAM ST AID WITHHLDG 5.0% 07-01-32                                                 | CUSIP: 072887V66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003918.00   | 0.04%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST                                                       | BLACK BELT ENERGY GAS DISTRICT (MPT) 5.25% 12-01-53                                                  | CUSIP: 09182NCT5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2930000 | PA      | $3149506.81   | 0.14%             | 2053-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF BAYONNE NJ                                                               | CITY OF BAYONNE NJ BAM ST AID WITHHLDG 5.0% 07-01-35                                                 | CUSIP: 072887V90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003918.00   | 0.04%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTHORITY                                                 | NEW JERSEY TURNPIKE AUTHORITY 5.0% 01-01-28                                                          | CUSIP: 646140DH3<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   2720000 | PA      | $2787311.84   | 0.12%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                                                       | NORTH CAROLINA HOUSING FINANCE AGENCY GNMA/FNMA/FHLMC 3.0% 07-01-51                                  | CUSIP: 658207G58<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1069876.19   | 0.05%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                     | CITY OF NEW YORK NY FRN 04-01-42                                                                     | CUSIP: 64966QWQ9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    195000 | PA      | $195000.00    | 0.01%             | 2042-04-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO REG AIRPORT                                                            | SAN DIEGO COUNTY REGIONAL AIRPORT AUTHORITY 5.0% 07-01-28                                            | CUSIP: 79739GQT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1644309.67   | 0.07%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CALIF HSG AUTH                                                         | BERNARDO FAMILY HOUSING LP (MPT) 5.0% 05-01-57                                                       | CUSIP: 79728FLH2<br>LEI: 549300X9H1ODNOOT1Q87 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009154.00   | 0.04%             | 2057-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN JOSE CALIF                                                                   | ALLIED 1510 PARKMOOR LP HUD SECT 8 (MPT) 5.0% 06-01-27                                               | CUSIP: 798165LF1<br>LEI: 549300QHIHSH68W22O38 | Long             | DBT              | MUN               | US        |    260000 | PA      | $260426.14    | 0.01%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HSG DEV AUTH                                                        | SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC 6.25% 05-01-55                            | CUSIP: 83756C6Z3<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1254628.11   | 0.05%             | 2055-05-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| STOCKTON CALIF UNI SCH DIST                                                      | STOCKTON UNIFIED SCHOOL DISTRICT AG 5.0% 08-01-27                                                    | CUSIP: 861419B40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $826592.00    | 0.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THE SOUTHEAST ALABAMA GAS DISTRICT                                               | SOUTHEAST ALABAMA GAS SUPPLY DISTRICT (MPT) 5.0% 08-01-54                                            | CUSIP: 84131TBA9<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2557507.20   | 0.11%             | 2054-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HSG DEV AUTH                                                        | SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC 6.25% 05-01-55                            | CUSIP: 83756LAC9<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |   5150000 | PA      | $5579154.65   | 0.24%             | 2055-05-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELECTRIC & GAS                                                   | CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVENUE 5.0% 02-01-29                                  | CUSIP: 79625GJW4<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |    200000 | PA      | $212684.60    | 0.01%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELECTRIC & GAS                                                   | CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVENUE 5.0% 02-01-28                                  | CUSIP: 79625GJV6<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |    550000 | PA      | $572376.20    | 0.02%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CALIF UNI SCH DIST                                                     | SAN DIEGO UNIFIED SCHOOL DISTRICT 0.0% 07-01-30                                                      | CUSIP: 797356MA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1603623.60   | 0.07%             | 2030-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SPRING TEX INDPT SCH DIST                                                        | SPRING INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-29                                             | CUSIP: 850001BE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $451189.62    | 0.02%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HSG DEV AUTH                                                        | SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY GNMA/FNMA/FHLMC 6.25% 11-01-55                            | CUSIP: 83756LBH7<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2214012.31   | 0.10%             | 2055-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DEV AUTH                                             | 573 MEETING STREET ASSOCIATES LLC HUD SECT 8 (MPT) 3.0% 04-01-43                                     | CUSIP: 83712EHU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000043.00   | 0.04%             | 2043-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAVANNAH GA ECONOMIC DEV AUTH                                                    | INTERNATIONAL PAPER CO (MPT) 3.45% 11-01-33                                                          | CUSIP: 80483CRH6<br>LEI: 549300Q7LO1N6BCXOD30 | Long             | DBT              | MUN               | US        |    925000 | PA      | $922390.58    | 0.04%             | 2033-11-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY AL                                                    | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT (MPT) 5.25% 03-01-55                               | CUSIP: 84136HBT9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   5005000 | PA      | $5181065.89   | 0.23%             | 2055-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY AL                                                    | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT (MPT) 5.0% 05-01-55                                | CUSIP: 84136HCF8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |  10075000 | PA      | $10725442.00  | 0.47%             | 2055-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUBLIC SERVICE AUTHORITY                                          | SOUTH CAROLINA PUBLIC SERVICE AUTHORITY 5.0% 12-01-28                                                | CUSIP: 8371515Z8<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1280101.35   | 0.06%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DEV AUTH                                             | DGA POPLAR SQUARE LP (MPT) 5.0% 04-01-28                                                             | CUSIP: 83712EHV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1144773.00   | 0.05%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF ST LOUIS MISSOURI/THE            | NNS CNI BREWERY APARTMENTS LP (MPT) 3.15% 04-01-46                                                   | CUSIP: 791900FX6<br>LEI: 549300WTUL8KX1FOUZ40 | Long             | DBT              | MUN               | US        |    620000 | PA      | $621116.00    | 0.03%             | 2046-04-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| SUMMIT COUNTY DEVELOPMENT FINANCE AUTHORITY                                      | WINTERGREEN LEDGES APARTMENTS LLC (MPT) 5.0% 04-01-28                                                | CUSIP: 86607MAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3780000 | PA      | $3845696.40   | 0.17%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST TEX INDPT SCH DIST                                                     | SOUTHWEST INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 02-01-27                                          | CUSIP: 845267B77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $875020.76    | 0.04%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE CITY UT AIRPORT REVENUE                                        | CITY OF SALT LAKE CITY UT AIRPORT REVENUE 5.0% 07-01-27                                              | CUSIP: 795576LJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $849054.31    | 0.04%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN MARCOS TEX CONS INDPT SCH DIST                                               | SAN MARCOS CONSOLIDATED INDEPENDENT SCHOOL DISTRICT PSF-GTD 5.0% 08-15-26                            | CUSIP: 798781F54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1751390.04   | 0.08%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUBLIC SERVICE AUTHORITY                                          | SOUTH CAROLINA PUBLIC SERVICE AUTHORITY 5.0% 12-01-31                                                | CUSIP: 83715BCL9<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    655000 | PA      | $656223.54    | 0.03%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUBLIC SERVICE AUTHORITY                                          | SOUTH CAROLINA PUBLIC SERVICE AUTHORITY 5.0% 12-01-33                                                | CUSIP: 83715BCM7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    340000 | PA      | $340635.12    | 0.01%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTA MARGARITA CALIF WTR DIST                                                   | SANTA MARGARITA WATER DISTRICT COMMUNITY FACILITIES DISTRICT NO 99-1 5.0% 09-01-29                   | CUSIP: 802242FF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1151819.30   | 0.05%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE CITY UT AIRPORT REVENUE                                        | CITY OF SALT LAKE CITY UT AIRPORT REVENUE 5.0% 07-01-29                                              | CUSIP: 795576FN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $817979.20    | 0.04%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DEV AUTH                                             | SOUTH CAROLINA STATE HOUSING FINANCE & DEVELOPMENT AUTHORITY FHA INS GNMA/FNMA/FHLMC 4.0% 07-01-47   | CUSIP: 83712DYP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15002.31     | 0.00%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO SALES TAX SECURITIZATION CORPORATION                                     | SALES TAX SECURITIZATION CORP 5.0% 01-01-27                                                          | CUSIP: 79467BAH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014140.00   | 0.04%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HSG DEV AUTH                                                        | SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY 4.0% 11-01-48                                             | CUSIP: 83756CVM4<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |    110000 | PA      | $110085.36    | 0.00%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DEV AUTH                                             | SOUTH CAROLINA STATE HOUSING FINANCE & DEVELOPMENT AUTHORITY 4.5% 07-01-48                           | CUSIP: 83712DZR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $241044.96    | 0.01%             | 2048-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE CITY UT AIRPORT REVENUE                                        | CITY OF SALT LAKE CITY UT AIRPORT REVENUE 5.0% 07-01-28                                              | CUSIP: 795576GY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043250.00   | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HSG DEV AUTH                                                        | SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY 4.5% 11-01-48                                             | CUSIP: 83756CWQ4<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |    760000 | PA      | $764850.32    | 0.03%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS                                  | TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS GNMA COLL 4.0% 03-01-50                              | CUSIP: 88275FRD3<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1473503.54   | 0.06%             | 2050-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH SOUTHN CALIF                                         | SAN DIEGO COUNTY TOBACCO ASSET SECURITIZATION CORP 5.0% 06-01-28                                     | CUSIP: 888804CD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $784825.50    | 0.03%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH SOUTHN CALIF                                         | SAN DIEGO COUNTY TOBACCO ASSET SECURITIZATION CORP 5.0% 06-01-27                                     | CUSIP: 888804CC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1644799.19   | 0.07%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS                                  | TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS GNMA 3.5% 03-01-51                                   | CUSIP: 88275FSG5<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |    460000 | PA      | $457607.08    | 0.02%             | 2051-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA                                                                        | H LEE MOFFITT CANCER CENTER & RESEARCH INSTITUTE OBLIGATED GROUP 5.0% 07-01-26                       | CUSIP: 875161CM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100322.40    | 0.00%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIMBLE CNTY KY                                                                  | LOUISVILLE GAS AND ELECTRIC CO (MPT) 1.3% 09-01-44                                                   | CUSIP: 896224BA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $1913121.28   | 0.08%             | 2044-09-01      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| TEXAS MUNICIPAL GAS ACQUISITION & SUPPLY CORP III                                | TEXAS MUNICIPAL GAS ACQUISITION & SUPPLY CORP III 5.0% 12-15-26                                      | CUSIP: 88256HBB3<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011996.00   | 0.04%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS                                  | TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS GNMA 3.0% 01-01-52                                   | CUSIP: 882750QQ8<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   1635000 | PA      | $1608063.38   | 0.07%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS                                  | TEXAS DEPARTMENT OF HOUSING & COMMUNITY AFFAIRS GNMA COLL 3.0% 03-01-52                              | CUSIP: 88275FTP4<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   5040000 | PA      | $4947012.00   | 0.22%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OKLA INDPT SCH DIST NO 1 TULSA                                        | TULSA COUNTY INDEPENDENT SCHOOL DISTRICT NO 1 TULSA 2.0% 09-01-26                                    | CUSIP: 899525UW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1989992.00   | 0.09%             | 2026-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| VERMONT ST STUDENT ASSISTANCE CORP                                               | VERMONT STUDENT ASSISTANCE CORP 5.25% 06-15-34                                                       | CUSIP: 92428CNJ9<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |    700000 | PA      | $748057.10    | 0.03%             | 2034-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO 15                                     | VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO 15 SERIES 2024 SPECIAL ASSESSMENT 3.75% 05-01-29           | CUSIP: 92708KAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $356460.47    | 0.02%             | 2029-05-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                         | VIRGINIA HOUSING DEVELOPMENT AUTHORITY (MPT) 3.125% 07-01-56                                         | CUSIP: 92812XRF1<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   6465000 | PA      | $6464838.38   | 0.28%             | 2056-07-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| WASHINGTON (STATE OF)                                                            | STATE OF WASHINGTON 5.0% 08-01-37                                                                    | CUSIP: 93974EG91<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |    730000 | PA      | $814347.85    | 0.04%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOUSING REVENUE               | WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOUSING REVENUE HUD SECT 8 (MPT) 3.875% 11-01-54  | CUSIP: 9769044P4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $455217.49    | 0.02%             | 2054-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| WILLIAMSON CNTY TENN INDL DEV BRD                                                | ECG WOOD DUCK LP HUD SECT 8 (MPT) 5.0% 05-01-42                                                      | CUSIP: 969878AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4070000 | PA      | $4109495.28   | 0.18%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN (STATE OF)                                                             | STATE OF WISCONSIN 5.0% 05-01-33                                                                     | CUSIP: 97705MK53<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |    155000 | PA      | $176389.85    | 0.01%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYOMING COMMUNITY DEVELOPMENT AUTHORITY                                          | WYOMING COMMUNITY DEVELOPMENT AUTHORITY 6.0% 12-01-54                                                | CUSIP: 98322QM46<br>LEI: 549300UQ62NB8FGTHW65 | Long             | DBT              | MUN               | US        |    315000 | PA      | $340562.57    | 0.01%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON STATE HOUSING FINANCE COMMISSION                                      | CAMAS FLATS OAK HARBOR 1 LLLP (MPT) 5.0% 02-01-28/27                                                 | CUSIP: 93978PPV3<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    810000 | PA      | $821540.88    | 0.04%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HOUSING & ECONOMIC DEV AUTH                                            | EAST NATIONAL LLC (MPT) 5.0% 08-01-58                                                                | CUSIP: 97689RFG4<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |    505000 | PA      | $507237.66    | 0.02%             | 2058-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON (STATE OF)                                                            | STATE OF WASHINGTON 5.0% 07-01-30                                                                    | CUSIP: 93974E5F9<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1462814.24   | 0.06%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE        | WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY HOME OWNERSHIP REVENUE GNMA/FNMA/FHLMC 6.0% 03-01 | CUSIP: 97689QWD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1666202.13   | 0.07%             | 2055-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORITY                              | ASCENSION HEALTH CREDIT GROUP 4.0% 11-15-46                                                          | CUSIP: 97712JMC4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1205610.94   | 0.05%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-22

**Name of Applicant:** American Funds Short-Term Tax-Exempt Bond Fund

**Signature:** Scott Lewis

**Name of Signer:** Scott Lewis

**Title:** Compliance Specialist Senior