# EDGAR Filing Document

**Accession Number:** 0000857769
**File Stem:** 0001193125-26-026091
**Filing Date:** 2026-1
**Character Count:** 105274
**Document Hash:** 291f20cfb41db9e5fb790ad946406078
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-026091.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001193125-26-026091

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JOHN HANCOCK MUNICIPAL SECURITIES TRUST
- **CENTRAL INDEX KEY:** 0000857769

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05968
- **FILM NUMBER:** 26568423

**BUSINESS ADDRESS:**
- **STREET 1:** C/O JOHN HANCOCK FUNDS
- **STREET 2:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** 617-663-3000

**MAIL ADDRESS:**
- **STREET 1:** C/O JOHN HANCOCK FUNDS
- **STREET 2:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HANCOCK JOHN MUNICIPAL SECURITIES TRUST
- **DATE OF NAME CHANGE:** 20050323

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HANCOCK JOHN TAX FREE BOND TRUST
- **DATE OF NAME CHANGE:** 19970501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HANCOCK JOHN TAX FREE BOND FUND
- **DATE OF NAME CHANGE:** 19941227

## Series and Classes Contracts Data

### John Hancock Short Duration Municipal Opportunities Fund (Series ID: S000076502)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000236445 | Class R6     | JHSKX           |
| C000236446 | Class A      | JHSFX           |
| C000236447 | Class C      | JHSHX           |
| C000236448 | Class I      | JHSJX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** John Hancock Municipal Securities Trust

- **b. Investment Company Act file number:** 811-05968

- **c. CIK number of Registrant:** 0000857769

- **d. LEI of Registrant:** 5493008ZYLKE3XZXD331

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

  - **Street Address 1:** 200 Berkeley Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02116

  - **Telephone number:** 617-543-9634

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

- **a. Name of Series:** Short Duration Municipal Opportunities Fund

- **b. EDGAR series identifier (if any):** S000076502

- **c. LEI of Series:** 549300NOMBMITCW4PQ97

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

- **a. Date of fiscal year-end:** 2026-05-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $91219157.94

**Total Liabilities:** $1133796.80

**Net Assets:** $90085361.14

**Delayed Delivery Securities:** $850000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -286.338909000000 | **1-Year:** -3227.408394000000 | **5-Year:** -13229.579866000000 | **10-Year:** -9378.531501000000 | **30-Year:** -19.060021000000

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

- **3-Month:** -25.727550000000 | **1-Year:** -724.941406000000 | **5-Year:** -2051.426477000000 | **10-Year:** -1104.141251000000 | **30-Year:** -55.180540000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000236445 | 0.90%                | 0.29%                | 0.30%                |
| Class ID C000236446 | 0.89%                | 0.27%                | 0.28%                |
| Class ID C000236447 | 0.82%                | 0.21%                | 0.12%                |
| Class ID C000236448 | 0.90%                | 0.29%                | 0.29%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $31799.55                | $342953.89                                 |
| Month 2  | $50581.69                | $-50541.99                                 |
| Month 3  | $21782.74                | $-42526.22                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Albany County Airport Authority                                        | ALBANY COUNTY AIRPORT AUTHORIT ALBAPT 12/26 FIXED 5          | CUSIP: 012123NK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $484173.34    | 0.54%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alief Independent School District                                      | ALIEF INDEPENDENT SCHOOL DISTR ALFSCD 02/35 FIXED 2          | CUSIP: 016249SQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $453933.82    | 0.50%             | 2035-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| American Municipal Power Inc.                                          | AMERICAN MUNICIPAL POWER INC AMEPWR 02/33 FIXED 5            | CUSIP: 02765UUA0<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |    400000 | PA      | $455505.92    | 0.51%             | 2033-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Board of Regents                                               | ARIZONA BOARD OF REGENTS AZSHGR 06/37 FIXED 5                | CUSIP: 040484NX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15096.51     | 0.02%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                               | ARIZONA INDUSTRIAL DEVELOPMENT AZSEDU 07/60 ADJUSTABLE VAR   | CUSIP: 04052BTS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149702.87    | 0.17%             | 2060-07-01      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| CITY OF ATLANTA GA AIRPORT PAS ATLAPT 07/26 FIXED 5                    | CITY OF ATLANTA GA AIRPORT PAS ATLAPT 07/26 FIXED 5          | CUSIP: 04780TEC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505888.80    | 0.56%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUGUSTA DEVELOPMENT AUTHORITY AGSDEV 07/26 FIXED 5                     | AUGUSTA DEVELOPMENT AUTHORITY AGSDEV 07/26 FIXED 5           | CUSIP: 05115CAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252755.60    | 0.28%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALDWIN COUNTY INDUSTRIAL DEVE BLWPOL 06/55 ADJUSTABLE VAR             | BALDWIN COUNTY INDUSTRIAL DEVE BLWPOL 06/55 ADJUSTABLE VAR   | CUSIP: 05786PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $306657.15    | 0.34%             | 2055-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE OF BEDFORD PARK IL HOT BEDGEN 12/35 FIXED 5                    | VILLAGE OF BEDFORD PARK IL HOT BEDGEN 12/35 FIXED 5          | CUSIP: 07638EBA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $172554.25    | 0.19%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bismarck City of                                                       | CITY OF BISMARCK ND BIS 05/26 FIXED OID 2.5                  | CUSIP: 0915822L9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $498926.55    | 0.55%             | 2026-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CITY OF BRIDGEPORT CT BRI 08/27 FIXED 5                                | CITY OF BRIDGEPORT CT BRI 08/27 FIXED 5                      | CUSIP: 108152GS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $176406.26    | 0.20%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance                                             | CALIFORNIA HOUSING FINANCE AGE CASMFH 12/27 FIXED 5.2        | CUSIP: 13034DAG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508062.15    | 0.56%             | 2027-12-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCHOOL FINANCE AUTH CASSCD 07/36 FIXED 5                    | CALIFORNIA SCHOOL FINANCE AUTH CASSCD 07/36 FIXED 5          | CUSIP: 13059TCQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300256.83    | 0.33%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                 | CALIFORNIA STATEWIDE COMMUNITI CASGEN 05/33 ADJUSTABLE VAR   | CUSIP: 13080SXY5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    480000 | PA      | $522770.74    | 0.58%             | 2033-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Independent School District No. 911                                    | CAMBRIDGE-ISANTI INDEPENDENT S CAMSCD 02/34 FIXED 2          | CUSIP: 132375QQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $786637.85    | 0.87%             | 2034-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CANYON FALLS MUNICIPAL UTILITY CNFUTL 02/31 FIXED 4                    | CANYON FALLS MUNICIPAL UTILITY CNFUTL 02/31 FIXED 4          | CUSIP: 138851DF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103103.52    | 0.11%             | 2031-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CANYON FALLS MUNICIPAL UTILITY CNFUTL 02/31 FIXED 4                    | CANYON FALLS MUNICIPAL UTILITY CNFUTL 02/31 FIXED 4          | CUSIP: 138851EF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $149500.10    | 0.17%             | 2031-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CASS COUNTY JOINT WATER RESOUR CASWTR 04/27 FIXED 3.45                 | CASS COUNTY JOINT WATER RESOUR CASWTR 04/27 FIXED 3.45       | CUSIP: 14805PBA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $185085.93    | 0.21%             | 2027-04-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Central Plains Energy Project                                          | CENTRAL PLAINS ENERGY PROJECT CENPWR 08/55 ADJUSTABLE VAR    | CUSIP: 154872AY1<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |    250000 | PA      | $268882.53    | 0.30%             | 2055-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| The Industrial Development Authority Of The City Of Chandler           | CHANDLER INDUSTRIAL DEVELOPMEN CHADEV 09/52 ADJUSTABLE VAR   | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $457424.24    | 0.51%             | 2052-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| The Industrial Development Authority Of The City Of Chandler           | CHANDLER INDUSTRIAL DEVELOPMEN CHADEV 06/49 ADJUSTABLE VAR   | CUSIP: 158862CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $390751.36    | 0.43%             | 2049-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Forsyth City of                                                        | CITY OF FORSYTH MT FORPOL 07/28 FIXED 3.875                  | CUSIP: 346668DN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253827.70    | 0.28%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Garden City City of                                                    | CITY OF GARDEN CITY KS GAROBL 06/29 FIXED 4                  | CUSIP: 36508AAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $198163.66    | 0.22%             | 2029-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Garden City City of                                                    | CITY OF GARDEN CITY KS GAROBL 06/33 FIXED OID 4.25           | CUSIP: 36508AAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $497776.05    | 0.55%             | 2033-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Georgetown City of                                                     | CITY OF GEORGETOWN TX GGT 08/29 FIXED 3                      | CUSIP: 373029DN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $775012.94    | 0.86%             | 2029-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITY OF HOUSTON TX AIRPORT SYS HOUAPT 07/33 FIXED 5.25                 | CITY OF HOUSTON TX AIRPORT SYS HOUAPT 07/33 FIXED 5.25       | CUSIP: 442349HT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $538167.35    | 0.60%             | 2033-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| I-470 WESTERN GATEWAY TRANSPOR WGTTRN 12/29 FIXED 4.5                  | I-470 WESTERN GATEWAY TRANSPOR WGTTRN 12/29 FIXED 4.5        | CUSIP: 44952RAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300459.42    | 0.33%             | 2029-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                             | ILLINOIS FINANCE AUTHORITY ILSGEN 06/27 FIXED 4.6            | CUSIP: 45204FQK4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    150000 | PA      | $149622.75    | 0.17%             | 2027-06-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                             | ILLINOIS FINANCE AUTHORITY ILSGEN 06/42 FIXED OID 5.375      | CUSIP: 45204FQN8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     10000 | PA      | $9680.05      | 0.01%             | 2042-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                             | ILLINOIS FINANCE AUTHORITY ILSGEN 10/35 FIXED 5              | CUSIP: 45204FS48<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    295000 | PA      | $299944.02    | 0.33%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                      | STATE OF ILLINOIS ILS 11/31 FIXED OID 4.125                  | CUSIP: 452152M65<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    575000 | PA      | $578503.48    | 0.64%             | 2031-11-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                      | STATE OF ILLINOIS ILS 10/29 FIXED 5.25                       | CUSIP: 452153LP2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $542159.90    | 0.60%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDEPENDENT CITIES FINANCE AUT IDCGEN 05/32 FIXED 4                    | INDEPENDENT CITIES FINANCE AUT IDCGEN 05/32 FIXED 4          | CUSIP: 45385LMP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $307229.52    | 0.34%             | 2032-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                              | INDIANA FINANCE AUTHORITY INSMED 10/60 ADJUSTABLE VAR        | CUSIP: 45470YFM8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    110000 | PA      | $119100.36    | 0.13%             | 2060-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                              | INDIANA FINANCE AUTHORITY INSFIN 05/29 FIXED 4.3             | CUSIP: 45506ENK5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    500000 | PA      | $505722.10    | 0.56%             | 2029-05-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                 | IOWA FINANCE AUTHORITY IASPOL 01/42 ADJUSTABLE VAR           | CUSIP: 46246YAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $209706.74    | 0.23%             | 2042-01-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Jacksonville Housing Authority                                         | JACKSONVILLE HOUSING AUTHORITY JACHSG 02/34 FIXED 5          | CUSIP: 46940XAJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $802158.90    | 0.89%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON COUNTY PORT AUTHORIT JPADEV 12/53 ADJUSTABLE VAR             | JEFFERSON COUNTY PORT AUTHORIT JPADEV 12/53 ADJUSTABLE VAR   | CUSIP: 473318AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $307410.87    | 0.34%             | 2053-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Utility District #1 of Klickitat County                         | KLICKITAT COUNTY PUBLIC UTILIT KLIPWR 12/32 FIXED 5          | CUSIP: 498622LF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $340340.91    | 0.38%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KNOXVILLE INDUSTRIAL DEVELOPME KXVDEV 11/30 FIXED OID 4.25             | KNOXVILLE INDUSTRIAL DEVELOPME KXVDEV 11/30 FIXED OID 4.25   | CUSIP: 499790AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $744993.45    | 0.83%             | 2030-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LAKE HOUSTON REDEVELOPMENT AUT LKHDEV 09/35 FIXED 4                    | LAKE HOUSTON REDEVELOPMENT AUT LKHDEV 09/35 FIXED 4          | CUSIP: 51001QAM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $49265.73     | 0.05%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEES SUMMIT INDUSTRIAL DEVELOP LEEFAC 08/32 FIXED 5                    | LEES SUMMIT INDUSTRIAL DEVELOP LEEFAC 08/32 FIXED 5          | CUSIP: 524292BE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $284583.52    | 0.32%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Little Rock School District                                            | LITTLE ROCK SCHOOL DISTRICT LITSCD 02/28 FIXED 3             | CUSIP: 537428V35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $349989.89    | 0.39%             | 2028-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| The Lower Alabama Gas District                                         | LOWER ALABAMA GAS DISTRICT/THE LWRUTL 12/50 ADJUSTABLE VAR   | CUSIP: 547804AM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250000.00    | 0.28%             | 2050-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc.                                           | MAIN STREET NATURAL GAS INC MAIUTL 05/26 FIXED 5             | CUSIP: 56035DBF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $553833.94    | 0.61%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc.                                           | MAIN STREET NATURAL GAS INC MAIUTL 09/52 ADJUSTABLE VAR      | CUSIP: 56035DDX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $411006.92    | 0.46%             | 2052-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc.                                           | MAIN STREET NATURAL GAS INC MAIUTL 07/53 ADJUSTABLE VAR      | CUSIP: 56035DFC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $265138.90    | 0.29%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc.                                           | MAIN STREET NATURAL GAS INC MAIUTL 12/53 ADJUSTABLE VAR      | CUSIP: 56035DGB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $536241.85    | 0.60%             | 2053-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc.                                           | MAIN STREET NATURAL GAS INC MAIUTL 04/54 ADJUSTABLE VAR      | CUSIP: 56035DHZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $539646.00    | 0.60%             | 2054-04-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc.                                           | MAIN STREET NATURAL GAS INC MAIUTL 12/55 ADJUSTABLE VAR      | CUSIP: 56035DKH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $713499.61    | 0.79%             | 2055-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                             | FINANCE AUTHORITY OF MAINE MESPOL 08/35 FIXED 5              | CUSIP: 56042CAZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $155089.35    | 0.17%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health and Higher Educational Facilities Authority            | MARYLAND HEALTH and HIGHER EDUCA MDSMED 07/45 ADJUSTABLE VAR | CUSIP: 57421CAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50944.49     | 0.06%             | 2045-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                               | MASSACHUSETTS DEVELOPMENT FINA MASDEV 09/30 FIXED 5          | CUSIP: 57584XZ53<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |     15000 | PA      | $15562.08     | 0.02%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                               | MASSACHUSETTS DEVELOPMENT FINA MASDEV 09/37 FIXED 5          | CUSIP: 57584YVL0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10532.07     | 0.01%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                               | MASSACHUSETTS DEVELOPMENT FINA MASDEV 12/29 FIXED 5          | CUSIP: 57585BCZ9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150067.89    | 0.17%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier and Exposition Authority                             | METROPOLITAN PIER and EXPOSITION MPNFAC 12/28 FIXED 5        | CUSIP: 592250FH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $518145.60    | 0.58%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHINGTON AIRPOR METAPT 10/35 FIXED 4                    | METROPOLITAN WASHINGTON AIRPOR METAPT 10/35 FIXED 4          | CUSIP: 592647HQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $763498.28    | 0.85%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHINGTON AIRPOR METAPT 10/26 FIXED 5                    | METROPOLITAN WASHINGTON AIRPOR METAPT 10/26 FIXED 5          | CUSIP: 592647LJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509430.80    | 0.57%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHINGTON AIRPOR METAPT 10/30 FIXED 5                    | METROPOLITAN WASHINGTON AIRPOR METAPT 10/30 FIXED 5          | CUSIP: 592647MN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $436373.04    | 0.48%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DADE FL AVIATI MIATRN 10/30 FIXED 5                    | COUNTY OF MIAMI-DADE FL AVIATI MIATRN 10/30 FIXED 5          | CUSIP: 59333P7G7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $276990.46    | 0.31%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                           | MISSISSIPPI DEVELOPMENT BANK MSSDEV 11/39 FIXED 4.55         | CUSIP: 60534WP69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $197128.58    | 0.22%             | 2039-11-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Montgomery County Higher Education and Health Authority                | MONTGOMERY COUNTY HIGHER EDUCA MONHGR 09/26 FIXED 5          | CUSIP: 613603ZV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $233659.12    | 0.26%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY COUNTY MUNICIPAL UT MONUTL 09/29 FIXED 5                    | MONTGOMERY COUNTY MUNICIPAL UT MONUTL 09/29 FIXED 5          | CUSIP: 61370SGH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $127890.68    | 0.14%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY COUNTY MUNICIPAL UT MONUTL 09/30 FIXED 5                    | MONTGOMERY COUNTY MUNICIPAL UT MONUTL 09/30 FIXED 5          | CUSIP: 61370SGJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $140498.03    | 0.16%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                | MUNICIPAL ELECTRIC AUTHORITY O MELPWR 01/29 FIXED 5          | CUSIP: 62620HBB7<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10661.37     | 0.01%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                               | NEW HAMPSHIRE BUSINESS FINANCE NFAGEN 12/35 FIXED 5.375      | CUSIP: 63608TAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $599443.80    | 0.67%             | 2035-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                               | NEW HAMPSHIRE BUSINESS FINANCE NFAGEN 12/32 ZEROCPNOID 0     | CUSIP: 63608TAZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $307754.15    | 0.34%             | 2032-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Nevada Department of Business and Industry                             | STATE OF NEVADA DEPARTMENT OF NBIDEV 01/65 ADJUST OID VAR    | CUSIP: 641455AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $595000.00    | 0.66%             | 2065-01-01      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act            | NEW HAMPSHIRE HEALTH AND EDUCA NHSMED 07/33 FIXED OID 3.375  | CUSIP: 64461XBM6<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25222.52     | 0.03%             | 2033-07-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act            | NEW HAMPSHIRE HEALTH AND EDUCA NHSMED 07/34 FIXED OID 3.5    | CUSIP: 64461XBN4<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    175000 | PA      | $176894.06    | 0.20%             | 2034-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act            | NEW HAMPSHIRE HEALTH AND EDUCA NHSMED 06/40 ADJUSTABLE VAR   | CUSIP: 64461XJY2<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250747.83    | 0.28%             | 2040-06-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                               | NEW HAMPSHIRE BUSINESS FINANCE NHSDEV 04/34 FIXED 5.5        | CUSIP: 644684GF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $82605.21     | 0.09%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                               | NEW HAMPSHIRE BUSINESS FINANCE NHSDEV 04/38 FIXED 5.5        | CUSIP: 644684GG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $107846.24    | 0.12%             | 2038-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDUCATION FA NHPFAC 10/30 FIXED 5.25                 | NEW HOPE CULTURAL EDUCATION FA NHPFAC 10/30 FIXED 5.25       | CUSIP: 64542UHH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251115.48    | 0.28%             | 2030-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDUCATION FA NHPFAC 07/32 FIXED 5.25                 | NEW HOPE CULTURAL EDUCATION FA NHPFAC 07/32 FIXED 5.25       | CUSIP: 64542UHL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100900.78    | 0.11%             | 2032-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Institute of Technology                                     | NEW JERSEY INSTITUTE OF TECHNO NEWHGR 07/36 FIXED 5          | CUSIP: 64579RDU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $582902.20    | 0.65%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey State of                                                    | STATE OF NEW JERSEY NJS 06/27 FIXED 2                        | CUSIP: 646039YY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $492086.25    | 0.55%             | 2027-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corporation                    | NEW YORK STATE ENVIRONMENTAL F NYSENV 09/50 ADJUSTABLE VAR   | CUSIP: 649852AS9<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503599.55    | 0.56%             | 2050-09-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corporation                        | NEW YORK TRANSPORTATION DEVELO NYTTRN 12/26 FIXED 5          | CUSIP: 650116FA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30517.44     | 0.03%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Newark Higher Education Finance Corporation                            | NEWARK HIGHER EDUCATION FINANC NEWEDU 08/29 FIXED OID 4.375  | CUSIP: 650346DA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $209211.07    | 0.23%             | 2029-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Newport City of                                                        | CITY OF NEWPORT OR NEW 06/27 ZEROCPNOID 0                    | CUSIP: 652300LB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $382135.16    | 0.42%             | 2027-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Finance Agency                       | NORTH CAROLINA CAPITAL FACILIT NCSEDU 05/33 FIXED 4          | CUSIP: 65818PNP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15406.82     | 0.02%             | 2033-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Finance Agency                       | NORTH CAROLINA CAPITAL FACILIT NCSEDU 05/34 FIXED 4          | CUSIP: 65818PNR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $767688.30    | 0.85%             | 2034-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                 | NORTH CAROLINA MEDICAL CARE CO NCSMED 10/28 FIXED 4.25       | CUSIP: 65820YSZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250089.98    | 0.28%             | 2028-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| North Carolina State of                                                | STATE OF NORTH CAROLINA NCSGEN 05/28 FIXED OID 3             | CUSIP: 65829QCJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300036.36    | 0.33%             | 2028-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTH LAWRENCE COMMUNITY SCHOO NRLSCD 01/32 FIXED 5                    | NORTH LAWRENCE COMMUNITY SCHOO NRLSCD 01/32 FIXED 5          | CUSIP: 66042REJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $280542.18    | 0.31%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH MIAMI COMMUNITY REDEVELO NMIDEV 03/31 FIXED 5                    | NORTH MIAMI COMMUNITY REDEVELO NMIDEV 03/31 FIXED 5          | CUSIP: 661056AG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $545047.50    | 0.61%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN KENTUCKY WATER DISTRI NKYWTR 02/29 FIXED OID 3.125            | NORTHERN KENTUCKY WATER DISTRI NKYWTR 02/29 FIXED OID 3.125  | CUSIP: 665306ND4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $124720.60    | 0.14%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Ohio County of                                                         | COUNTY OF OHIO WV OHSDEV 06/32 FIXED 5                       | CUSIP: 677321BQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $390853.64    | 0.43%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                 | OHIO AIR QUALITY DEVELOPMENT A OHSDEV 08/29 ADJUSTABLE VAR   | CUSIP: 677525VZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $147161.03    | 0.16%             | 2029-08-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| OREGON STATE LOTTERY ORSGEN 04/28 FIXED 5                              | OREGON STATE LOTTERY ORSGEN 04/28 FIXED 5                    | CUSIP: 68607V6A8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $200673.10    | 0.22%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON STATE FACILITIES AUTHOR ORSFAC 12/28 FIXED 5                    | OREGON STATE FACILITIES AUTHOR ORSFAC 12/28 FIXED 5          | CUSIP: 68608JZG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $330732.48    | 0.37%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY HEALTH FACIL PALMED 06/26 FIXED 4                    | PALM BEACH COUNTY HEALTH FACIL PALMED 06/26 FIXED 4          | CUSIP: 696507VG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $229938.18    | 0.26%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY HEALTH FACIL PALMED 06/31 FIXED 4                    | PALM BEACH COUNTY HEALTH FACIL PALMED 06/31 FIXED 4          | CUSIP: 696507VH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $9983.67      | 0.01%             | 2031-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY HEALTH FACIL PALMED 11/32 FIXED 5                    | PALM BEACH COUNTY HEALTH FACIL PALMED 11/32 FIXED 5          | CUSIP: 69650MAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $116422.38    | 0.13%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY HEALTH FACIL PALMED 11/28 FIXED 5                    | PALM BEACH COUNTY HEALTH FACIL PALMED 11/28 FIXED 5          | CUSIP: 69651ABN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15747.50     | 0.02%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY HEALTH FACIL PALMED 11/29 FIXED 5                    | PALM BEACH COUNTY HEALTH FACIL PALMED 11/29 FIXED 5          | CUSIP: 69651ABP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $74630.52     | 0.08%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY HEALTH FACIL PALMED 11/30 FIXED 5                    | PALM BEACH COUNTY HEALTH FACIL PALMED 11/30 FIXED 5          | CUSIP: 69651ABQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $216598.14    | 0.24%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK METROPOLITAN DISTRI PKCGEN 12/35 FIXED 4                    | PARK CREEK METROPOLITAN DISTRI PKCGEN 12/35 FIXED 4          | CUSIP: 700387GX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $484825.71    | 0.54%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Patterson Joint Unified School District                                | PATTERSON JOINT UNIFIED SCHOOL PATSCD 08/26 ZEROCPNOID 0     | CUSIP: 703373ES5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $505815.90    | 0.56%             | 2026-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PHENIX CITY INDUSTRIAL DEVELOP PHEENV 05/35 FIXED 4.125                | PHENIX CITY INDUSTRIAL DEVELOP PHEENV 05/35 FIXED 4.125      | CUSIP: 717346AQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $295587.18    | 0.33%             | 2035-05-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                      | PHILADELPHIA AUTHORITY FOR IND PHIEDU 06/31 FIXED 4          | CUSIP: 71780CBF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $158099.66    | 0.18%             | 2031-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHILADELPHIA PA AIRPOR PHIAPT 07/31 FIXED 5                    | CITY OF PHILADELPHIA PA AIRPOR PHIAPT 07/31 FIXED 5          | CUSIP: 717817XM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $549401.20    | 0.61%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Of Beaumont Industrial Development Authority                      | PORT OF BEAUMONT INDUSTRIAL DE PTBDEV 01/28 FIXED 4.1        | CUSIP: 73358SAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $226522.90    | 0.25%             | 2028-01-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Navigation District of Jefferson County               | PORT OF BEAUMONT NAVIGATION DI PTBTRN 07/26 FIXED 10         | CUSIP: 73360CAS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $301107.24    | 0.33%             | 2026-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Port of Houston Authority                                              | PORT AUTHORITY OF HOUSTON OF H PRH 10/32 FIXED 5             | CUSIP: 7342605K4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $360969.95    | 0.40%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                     | PORT OF SEATTLE WA PTSGEN 08/26 FIXED 5                      | CUSIP: 735389T81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506965.80    | 0.56%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Prairie Village                                                | CITY OF PRAIRIE VILLAGE KS PRVGEN 04/36 FIXED OID 3.125      | CUSIP: 73971FAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $334121.34    | 0.37%             | 2036-04-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                               | PUBLIC FINANCE AUTHORITY PUBFIN 06/28 FIXED 5                | CUSIP: 74439YFE6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    315000 | PA      | $329319.40    | 0.37%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                               | PUBLIC FINANCE AUTHORITY PUBFIN 06/30 FIXED 5                | CUSIP: 74439YGD7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    200000 | PA      | $208828.30    | 0.23%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Energy Authority Of Kentucky Inc.                               | KENTUCKY PUBLIC ENERGY AUTHORI KYSPWR 05/55 ADJUSTABLE VAR   | CUSIP: 74440DEL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $276032.87    | 0.31%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                               | PUBLIC FINANCE AUTHORITY PUBGEN 12/34 ZEROCPNOID 0           | CUSIP: 74442PL45<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    350000 | PA      | $206886.61    | 0.23%             | 2034-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                               | PUBLIC FINANCE AUTHORITY PUBGEN 12/39 ZEROCPNOID 0           | CUSIP: 74442PS48<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $204195.65    | 0.23%             | 2039-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                            | COMMONWEALTH OF PUERTO RICO PRC 11/43 ADJUSTABLE VAR         | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    270000 | PA      | $172800.00    | 0.19%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Waynesville R-VI School District                                       | WAYNESVILLE R-VI SCHOOL DISTRI PULEDU 04/30 FIXED 5          | CUSIP: 74549PAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $151601.88    | 0.17%             | 2030-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rampart Range Metropolitan District No. 1                              | RAMPART RANGE METROPOLITAN DIS RAMGEN 12/26 FIXED 5          | CUSIP: 75157TAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $310508.12    | 0.34%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rampart Range Metropolitan District No. 1                              | RAMPART RANGE METROPOLITAN DIS RAMGEN 12/27 FIXED 5          | CUSIP: 75157TAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $461296.75    | 0.51%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Health and Educational Building Corporation               | RHODE ISLAND HEALTH AND EDUCAT RISMED 07/32 FIXED 5          | CUSIP: 762244NN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $229585.61    | 0.25%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Health and Educational Building Corporation               | RHODE ISLAND HEALTH AND EDUCAT RISMED 07/33 FIXED 5          | CUSIP: 762244NP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $330352.86    | 0.37%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Richland County School District One                                    | RICHLAND COUNTY SCHOOL DISTRIC RICSCD 03/28 FIXED 3.5        | CUSIP: 763665YZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $350118.23    | 0.39%             | 2028-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| City Public Service Board of San Antonio                               | CITY OF SAN ANTONIO TX ELECTRI SANUTL 02/55 ADJUSTABLE VAR   | CUSIP: 79625GNE9<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500095.15    | 0.56%             | 2055-02-01      | Variable      | 3.08%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs Coalition                                          | SOUTH CAROLINA JOBS-ECONOMIC D SCSDEV 04/27 FIXED 5          | CUSIP: 837031UX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25135.49     | 0.03%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                                 | VERMONT ECONOMIC DEVELOPMENT A VTSPOL 06/52 ADJUSTABLE VAR   | CUSIP: 924157AD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252004.05    | 0.28%             | 2052-06-01      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| VILLAGE COMMUNITY DEVELOPMENT VGEDEV 05/34 FIXED 4                     | VILLAGE COMMUNITY DEVELOPMENT VGEDEV 05/34 FIXED 4           | CUSIP: 92708KAG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252905.83    | 0.28%             | 2034-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority                                   | VIRGINIA BEACH DEVELOPMENT AUT VBHDEV 09/30 FIXED 6.25       | CUSIP: 92774NBD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $202419.88    | 0.22%             | 2030-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                         | WAYNE COUNTY AIRPORT AUTHORITY WAYAPT 12/35 FIXED 5          | CUSIP: 944514X78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $654420.60    | 0.73%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| The Berks County Municipal Authority                                   | BERKS COUNTY MUNICIPAL AUTHORI BERFAC 02/40 ADJUSTABLE VAR   | CUSIP: 084538JB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $447689.85    | 0.50%             | 2040-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| The Water Works Board of the City of Birmingham                        | WATER WORKS BOARD OF THE CITY BIRWTR 09/26 FIXED 3.75        | CUSIP: 091097AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499993.90    | 0.56%             | 2026-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Colorado Housing and Finance Authority                                 | COLORADO HOUSING AND FINANCE A COSHSG 10/29 FIXED 3.35       | CUSIP: 19648GXF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $434392.62    | 0.48%             | 2029-10-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Columbus City of                                                       | CITY OF COLUMBUS OH COL 08/32 FIXED 3                        | CUSIP: 199492QY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750042.83    | 0.83%             | 2032-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                         | BLACK BELT ENERGY GAS DISTRICT BBEUTL 05/55 ADJUSTABLE VAR   | CUSIP: 09182TEV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516721.25    | 0.57%             | 2056-05-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                         | BLACK BELT ENERGY GAS DISTRICT BBEUTL 11/56 ADJUSTABLE VAR   | CUSIP: 09182TGL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1060076.80   | 1.18%             | 2056-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                 | CALIFORNIA MUNICIPAL FINANCE A CASFIN 12/32 FIXED OID 3.25   | CUSIP: 13048VBS6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $487341.00    | 0.54%             | 2032-12-31      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                 | CALIFORNIA MUNICIPAL FINANCE A CASEDU 06/34 FIXED 5          | CUSIP: 130497BA7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    250000 | PA      | $264968.75    | 0.29%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                 | CALIFORNIA MUNICIPAL FINANCE A CASFIN 07/29 FIXED 4          | CUSIP: 13050RAA0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100768.51    | 0.11%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                       | CALIFORNIA POLLUTION CONTROL F CASPOL 11/42 ADJUSTABLE VAR   | CUSIP: 130536RC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $700051.17    | 0.78%             | 2042-11-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| BLAINE COUNTY EDUCATIONAL FACI BLAEDU 12/30 FIXED 5                    | BLAINE COUNTY EDUCATIONAL FACI BLAEDU 12/30 FIXED 5          | CUSIP: 092746AY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $253088.07    | 0.28%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOYERTOWN AREA SCHOOL DISTRICT BOYSCD 11/27 FIXED 4                    | BOYERTOWN AREA SCHOOL DISTRICT BOYSCD 11/27 FIXED 4          | CUSIP: 103405RD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $425394.87    | 0.47%             | 2027-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Domtar Corporation                                                     | DOMTAR CORP SR SECURED 144A 10/28 6.75                       | CUSIP: 70478JAA2<br>LEI: XYSIJOU3HNVROZWNA008 | Long             | DBT              | CORP              | US        |    150000 | PA      | $119979.08    | 0.13%             | 2028-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                  | PENNSYLVANIA ECONOMIC DEVELOPM PASDEV 12/38 ADJUSTABLE VAR   | CUSIP: 708686ES5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $604447.38    | 0.67%             | 2038-12-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                  | PENNSYLVANIA ECONOMIC DEVELOPM PASDEV 12/37 ADJUSTABLE VAR   | CUSIP: 708686ET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503957.90    | 0.56%             | 2037-12-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Pflugerville City of                                                   | CITY OF PFLUGERVILLE TX PFLGEN 09/33 FIXED OID 4.25          | CUSIP: 71710FAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $350386.16    | 0.39%             | 2033-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                | DALLAS FORT WORTH INTERNATIONA DALAPT 11/30 FIXED 5          | CUSIP: 23503CDL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $544346.65    | 0.60%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                | DALLAS FORT WORTH INTERNATIONA DALAPT 11/50 ADJUSTABLE VAR   | CUSIP: 23503CFL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $875160.72    | 0.97%             | 2050-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Brazoria County Industrial Development Corp                            | BRAZORIA COUNTY INDUSTRIAL DEV BZIFAC 06/43 FIXED 12         | CUSIP: 10604PAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     93737 | PA      | $13591.84     | 0.02%             | 2043-06-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| COUNTY OF BROWARD FL PORT FACI BROTRN 09/28 FIXED 5                    | COUNTY OF BROWARD FL PORT FACI BROTRN 09/28 FIXED 5          | CUSIP: 11506KEW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522102.50    | 0.58%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Davie Town of                                                          | TOWN OF DAVIE FL DAVEDU 04/31 FIXED 5                        | CUSIP: 23867PBL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $345722.69    | 0.38%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Decatur Hospital Authority                                             | DECATUR HOSPITAL AUTHORITY DECMED 09/30 FIXED 5              | CUSIP: 243323CZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $245554.45    | 0.27%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| The Development Authority of Burke County                              | DEVELOPMENT AUTHORITY OF BURKE BURPOL 01/40 ADJUSTABLE VAR   | CUSIP: 121342NR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507181.85    | 0.56%             | 2040-01-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| CABOT CITRUS FARMS COMMUNITY D CCFDEV 03/29 FIXED 5.25                 | CABOT CITRUS FARMS COMMUNITY D CCFDEV 03/29 FIXED 5.25       | CUSIP: 127052AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $809408.56    | 0.90%             | 2029-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Independent School District No. 879                                    | DELANO INDEPENDENT SCHOOL DIST DELSCD 02/28 FIXED 3          | CUSIP: 245685MG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $687584.52    | 0.76%             | 2028-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Delaware County Authority                                              | DELAWARE COUNTY AUTHORITY DELGEN 07/31 FIXED 5               | CUSIP: 245913MK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30978.98     | 0.03%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FI CCEDEV 02/55 ADJUSTABLE VAR             | CALIFORNIA COMMUNITY CHOICE FI CCEDEV 02/55 ADJUSTABLE VAR   | CUSIP: 13013JEP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $688236.22    | 0.76%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FI CCEDEV 02/55 ADJUSTABLE VAR             | CALIFORNIA COMMUNITY CHOICE FI CCEDEV 02/55 ADJUSTABLE VAR   | CUSIP: 13013JFR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $327692.52    | 0.36%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE STATE ECONOMIC DEVELO DESDEV 01/31 FIXED 3.6                  | DELAWARE STATE ECONOMIC DEVELO DESDEV 01/31 FIXED 3.6        | CUSIP: 246387SX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $721705.81    | 0.80%             | 2031-01-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| DELAWARE STATE ECONOMIC DEVELO DESDEV 10/45 ADJUSTABLE VAR             | DELAWARE STATE ECONOMIC DEVELO DESDEV 10/45 ADJUSTABLE VAR   | CUSIP: 246387SY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506718.45    | 0.56%             | 2045-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Eden Prairie MN                                                | CITY OF EDEN PRAIRIE MN EDE 02/33 FIXED 2                    | CUSIP: 279518GQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $591518.27    | 0.66%             | 2033-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ELEVON MUNICIPAL UTILITY DISTR ELVUTL 09/33 FIXED 4                    | ELEVON MUNICIPAL UTILITY DISTR ELVUTL 09/33 FIXED 4          | CUSIP: 28626FAJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $315526.28    | 0.35%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                | ENERGY SOUTHEAST A COOPERATIVE ESDPWR 07/54 ADJUSTABLE VAR   | CUSIP: 292723BN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $543598.90    | 0.60%             | 2054-07-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                | ENERGY SOUTHEAST A COOPERATIVE ESDPWR 09/33 FIXED 5          | CUSIP: 292723CN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $518393.70    | 0.58%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FI CCEDEV 01/56 ADJUSTABLE VAR             | CALIFORNIA COMMUNITY CHOICE FI CCEDEV 01/56 ADJUSTABLE VAR   | CUSIP: 13013JFW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $568170.45    | 0.63%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FI CCEDEV 12/55 ADJUSTABLE VAR             | CALIFORNIA COMMUNITY CHOICE FI CCEDEV 12/55 ADJUSTABLE VAR   | CUSIP: 13013JHD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $532254.60    | 0.59%             | 2055-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                | ENERGY SOUTHEAST A COOPERATIVE ESDPWR 11/35 FIXED 5          | CUSIP: 292723CU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $539732.45    | 0.60%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fall River City of                                                     | CITY OF FALL RIVER MA FAL 12/32 FIXED 2                      | CUSIP: 306297W73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $366223.12    | 0.41%             | 2032-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FI CCEDEV 11/33 FIXED 5                    | CALIFORNIA COMMUNITY CHOICE FI CCEDEV 11/33 FIXED 5          | CUSIP: 13013JHH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $766655.47    | 0.85%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure and Economic Development Bank                | CALIFORNIA INFRASTRUCTURE and EC CASDEV 08/29 FIXED 3.25     | CUSIP: 13034A5B2<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    300000 | PA      | $302671.80    | 0.34%             | 2029-08-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTHORITY CTSEDU 06/34 FIXED 5                           | CAPITAL TRUST AUTHORITY CTSEDU 06/34 FIXED 5                 | CUSIP: 14054WAN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $312888.42    | 0.35%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Farmingdale UFSD                                                       | FARMINGDALE UNION FREE SCHOOL FARSCD 09/34 FIXED 2           | CUSIP: 311117HD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $193894.65    | 0.22%             | 2034-09-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FIDDLERS BUSINESS IMPROVEMENT FIDDEV 12/32 FIXED 5                     | FIDDLERS BUSINESS IMPROVEMENT FIDDEV 12/32 FIXED 5           | CUSIP: 315730AW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103000.24    | 0.11%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIRETHORN COMMUNITY DEVELOPMEN FTNGEN 05/30 FIXED 4.1                  | FIRETHORN COMMUNITY DEVELOPMEN FTNGEN 05/30 FIXED 4.1        | CUSIP: 31832AAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $475253.79    | 0.53%             | 2030-05-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corporation                                | FLORIDA DEVELOPMENT FINANCE CO FLSDEV 12/34 FIXED 5          | CUSIP: 34061UDK1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    200000 | PA      | $207033.00    | 0.23%             | 2034-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND VALLEY STATE UNIVERSITY GVYHGR 12/32 FIXED 5                     | GRAND VALLEY STATE UNIVERSITY GVYHGR 12/32 FIXED 5           | CUSIP: 386545LA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503909.70    | 0.56%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF FAYETTE OH FAY 12/32 FIXED 3                                 | COUNTY OF FAYETTE OH FAY 12/32 FIXED 3                       | CUSIP: 312441JR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $493201.25    | 0.55%             | 2032-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Hamden Town of                                                         | TOWN OF HAMDEN CT HAM 01/50 FIXED 5                          | CUSIP: 4067927Y1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $203856.06    | 0.23%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY MUNICIPAL UTILIT HARUTL 12/32 FIXED OID 3                | HARRIS COUNTY MUNICIPAL UTILIT HARUTL 12/32 FIXED OID 3      | CUSIP: 41423TMU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $193820.52    | 0.22%             | 2032-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HARRISBURG REDEVELOPMENT AUTHO HRADEV 09/30 FIXED 5                    | HARRISBURG REDEVELOPMENT AUTHO HRADEV 09/30 FIXED 5          | CUSIP: 414832AF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $488003.72    | 0.54%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                     | GREATER ORLANDO AVIATION AUTHO GREAPT 11/34 FIXED 5.25       | CUSIP: 39227AAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $538465.95    | 0.60%             | 2034-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Gulf Coast Industrial Development Authority                            | GULF COAST INDUSTRIAL DEVELOPM GULPOL 04/28 FIXED 8          | CUSIP: 40220MAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500606.80    | 0.56%             | 2028-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JH COLLATERAL                                                          | JH COLLATERAL                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |    495091 | NS      | $4952441.28   | 5.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington State Housing Finance Commission                            | WASHINGTON STATE HOUSING FINAN WASHSG 01/35 FIXED 5          | CUSIP: 939783Z66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $350860.76    | 0.39%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster County Hospital Authority                                    | LANCASTER COUNTY HOSPITAL AUTH LANMED 07/28 FIXED 4.25       | CUSIP: 514045R70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $34821.29     | 0.04%             | 2028-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Lancaster County Hospital Authority                                    | LANCASTER COUNTY HOSPITAL AUTH LANMED 11/32 FIXED 5          | CUSIP: 514045Y80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $492924.72    | 0.55%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster Industrial Development Authority                             | LANCASTER INDUSTRIAL DEVELOPME LANMED 07/31 FIXED 4          | CUSIP: 51434NAP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200590.66    | 0.22%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEES SUMMIT INDUSTRIAL DEVELOP LEEFAC 08/27 FIXED 5                    | LEES SUMMIT INDUSTRIAL DEVELOP LEEFAC 08/27 FIXED 5          | CUSIP: 524292BD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $202163.70    | 0.22%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DADE FL AVIATI MIATRN 10/34 FIXED 5                    | COUNTY OF MIAMI-DADE FL AVIATI MIATRN 10/34 FIXED 5          | CUSIP: 59333P7L6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $559712.40    | 0.62%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                             | MICHIGAN FINANCE AUTHORITY MISFIN 10/38 ADJUSTABLE VAR       | CUSIP: 59447TU68<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    345000 | PA      | $326098.93    | 0.36%             | 2038-10-15      | Variable      | 1.20%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSPITAL FINANC MISMED 08/55 ADJUSTABLE VAR             | MICHIGAN STATE HOSPITAL FINANC MISMED 08/55 ADJUSTABLE VAR   | CUSIP: 59465HXE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $222446.02    | 0.25%             | 2055-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                | MICHIGAN STRATEGIC FUND MISGEN 12/32 FIXED 5                 | CUSIP: 594698QN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $36301.04     | 0.04%             | 2032-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing and Mortgage Finance Agency                         | NEW JERSEY HOUSING and MORTGAGE NJSMFH 11/27 FIXED 3.375     | CUSIP: 6461084M9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $436513.97    | 0.48%             | 2027-11-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                         | NEW JERSEY TRANSPORTATION TRUS NJSTRN 06/30 FIXED 5          | CUSIP: 64613CDD7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    500000 | PA      | $549276.15    | 0.61%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FIN NYCGEN 11/26 FIXED 5                    | NEW YORK CITY TRANSITIONAL FIN NYCGEN 11/26 FIXED 5          | CUSIP: 64971XN20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5112.95      | 0.01%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                        | NEW YORK CITY MUNICIPAL WATER NYCUTL 06/35 FIXED 5           | CUSIP: 64972GP32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $177439.25    | 0.20%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY and COUNTY AI SFOAPT 05/32 FIXED 5                  | SAN FRANCISCO CITY and COUNTY AI SFOAPT 05/32 FIXED 5        | CUSIP: 79766DVL0<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    400000 | PA      | $447041.20    | 0.50%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN JOAQUIN VALLEY CLEAN ENERG SSJUTL 01/56 ADJUSTABLE VAR             | SAN JOAQUIN VALLEY CLEAN ENERG SSJUTL 01/56 ADJUSTABLE VAR   | CUSIP: 79811YAK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $569879.70    | 0.63%             | 2056-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                | SOUTH CAROLINA PUBLIC SERVICE SCSUTL 12/30 FIXED 5           | CUSIP: 837151PL7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    295000 | PA      | $298193.26    | 0.33%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Transportation Infrastructure Bank                      | SOUTH CAROLINA TRANSPORTATION SCSTRN 10/33 FIXED 3           | CUSIP: 837152UH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $347272.03    | 0.39%             | 2033-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SOUTH MARYLAND CREEK RANCH MET SMDFAC 12/29 FIXED 5                    | SOUTH MARYLAND CREEK RANCH MET SMDFAC 12/29 FIXED 5          | CUSIP: 838797AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $208598.62    | 0.23%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority a Cooperative District                      | SOUTHEAST ENERGY AUTHORITY A C SEEPWR 01/54 ADJUSTABLE VAR   | CUSIP: 84136FBT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $280311.41    | 0.31%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority a Cooperative District                      | SOUTHEAST ENERGY AUTHORITY A C SEEPWR 03/55 ADJUSTABLE VAR   | CUSIP: 84136HBT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530186.95    | 0.59%             | 2055-03-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority a Cooperative District                      | SOUTHEAST ENERGY AUTHORITY A C SEEPWR 05/55 ADJUSTABLE VAR   | CUSIP: 84136HCF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $332782.40    | 0.37%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority a Cooperative District                      | SOUTHEAST ENERGY AUTHORITY A C SEEPWR 10/30 FIXED 5          | CUSIP: 84136HCT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1345297.63   | 1.49%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| The Industrial Development Authority of the City of St. Louis Missouri | INDUSTRIAL DEVELOPMENT AUTHORI STLGEN 06/34 FIXED 4.875      | CUSIP: 85237JAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $352203.67    | 0.39%             | 2034-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                             | STAMFORD HOUSING AUTHORITY STMHSG 10/32 FIXED 4.75           | CUSIP: 852640AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $221572.23    | 0.25%             | 2032-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corporation                               | TENNESSEE ENERGY ACQUISITION C TNSUTL 12/35 FIXED 5          | CUSIP: 880443JM9<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |    500000 | PA      | $543446.00    | 0.60%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition and Supply Corporation I               | TEXAS MUNICIPAL GAS ACQUISITIO TXSUTL 12/26 FIXED OID 6.25   | CUSIP: 88256CEX3<br>LEI: 6AZ7FRSNC3ZFPM0Z8L86 | Long             | DBT              | MUN               | US        |     55000 | PA      | $56011.19     | 0.06%             | 2026-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Texas Public Finance Authority                                         | TEXAS PUBLIC FINANCE AUTHORITY TXSGEN 05/26 FIXED 5          | CUSIP: 88277PAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $523037.48    | 0.58%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF TOPEKA KS COMBINED UTI TOPUTL 08/27 FIXED OID 3                | CITY OF TOPEKA KS COMBINED UTI TOPUTL 08/27 FIXED OID 3      | CUSIP: 890680KU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250007.88    | 0.28%             | 2027-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TRAILS AT CROWFOOT METROPOLITA TRCFAC 12/34 FIXED 5                    | TRAILS AT CROWFOOT METROPOLITA TRCFAC 12/34 FIXED 5          | CUSIP: 89286RAQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $196125.86    | 0.22%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Trimble County of                                                      | COUNTY OF TRIMBLE KY TRMENV 06/33 FIXED 3.75                 | CUSIP: 896221AD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501830.75    | 0.56%             | 2033-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGENCY UTSFAC 10/29 FIXED 5                        | UTAH INFRASTRUCTURE AGENCY UTSFAC 10/29 FIXED 5              | CUSIP: 917467BD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $142096.28    | 0.16%             | 2029-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Virginia Economic Development Authority                           | WEST VIRGINIA ECONOMIC DEVELOP WVSDEV 04/55 ADJUSTABLE VAR   | CUSIP: 95648VBV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $355281.68    | 0.39%             | 2055-04-15      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| WINTER GARDEN VILLAGE AT FOWLE WVGDEV 05/31 FIXED OID 3.75             | WINTER GARDEN VILLAGE AT FOWLE WVGDEV 05/31 FIXED OID 3.75   | CUSIP: 975795AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $220069.87    | 0.24%             | 2031-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGENCY UTSFAC 10/28 FIXED 4                        | UTAH INFRASTRUCTURE AGENCY UTSFAC 10/28 FIXED 4              | CUSIP: 917467BT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $140967.62    | 0.16%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                 | VIRGINIA HOUSING DEVELOPMENT A VASHSG 07/56 ADJUSTABLE VAR   | CUSIP: 92812XRF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999988.70    | 1.11%             | 2056-07-01      | Variable      | 3.12%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health and Educational Facilities Authority                  | WISCONSIN HEALTH and EDUCATIONAL WISMED 08/28 FIXED 4.2      | CUSIP: 97712JJH7<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    280000 | PA      | $278820.47    | 0.31%             | 2028-08-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Fort Mill School District 4                                            | FORT MILL SCHOOL DISTRICT NO 4 YORSCD 03/31 FIXED 3          | CUSIP: 986525WR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $218988.73    | 0.24%             | 2031-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON and MULTNOMAH COUNTIE WASSCD 06/31 ZEROCPNOID 0             | WASHINGTON and MULTNOMAH COUNTIE WASSCD 06/31 ZEROCPNOID 0   | CUSIP: 9384292C0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $139161.83    | 0.15%             | 2031-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON and MULTNOMAH COUNTIE WASSCD 06/32 ZEROCPNOID 0             | WASHINGTON and MULTNOMAH COUNTIE WASSCD 06/32 ZEROCPNOID 0   | CUSIP: 9384292D8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $101696.74    | 0.11%             | 2032-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                         | WAYNE COUNTY AIRPORT AUTHORITY WAYAPT 12/36 FIXED 5          | CUSIP: 944514X86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $332830.05    | 0.37%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Whiting City of                                                        | CITY OF WHITING IN WHGFAC 03/46 ADJUSTABLE VAR               | CUSIP: 96634RAX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $237614.78    | 0.26%             | 2046-03-01      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                        | CHESTER COUNTY INDUSTRIAL DEVE CHEDEV 03/27 FIXED 5          | CUSIP: 165588FP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $221873.41    | 0.25%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                   | CHICAGO MIDWAY INTERNATIONAL A CHIAPT 01/30 FIXED 5          | CUSIP: 167562QH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $550915.92    | 0.61%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                   | CHICAGO MIDWAY INTERNATIONAL A CHIAPT 01/32 FIXED 5          | CUSIP: 167562UR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1091222.80   | 1.21%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                   | CHICAGO O'HARE INTERNATIONAL A CHITRN 01/27 FIXED 5          | CUSIP: 1675937F3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509847.05    | 0.57%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL WASTEWATER CHIUTL 01/30 FIXED 5                     | CITY OF CHICAGO IL WASTEWATER CHIUTL 01/30 FIXED 5           | CUSIP: 167727ZS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $255332.38    | 0.28%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon City School District No. 62                                     | OREGON CITY SCHOOL DISTRICT NO CLASCD 06/29 ZEROCPNOID 0     | CUSIP: 179162LC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $406683.68    | 0.45%             | 2029-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Clarksville Independent School District                                | CLARKSVILLE INDEPENDENT SCHOOL CLKSCD 02/34 FIXED 2          | CUSIP: 182630DU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $405338.02    | 0.45%             | 2034-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND EDUCATIONAL FACILITI CLVEDU 09/33 FIXED 5                    | CLEVELAND EDUCATIONAL FACILITI CLVEDU 09/33 FIXED 5          | CUSIP: 186433AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $316092.59    | 0.35%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Educational and Cultural Facilities Authority                 | COLORADO EDUCATIONAL and CULTURA COSEDU 06/35 FIXED OID 4    | CUSIP: 19645DDG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $418549.40    | 0.46%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                   | COLORADO HEALTH FACILITIES AUT COSMED 05/30 FIXED 3          | CUSIP: 19648FSW5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    340000 | PA      | $332700.30    | 0.37%             | 2030-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corporation                                | FLORIDA DEVELOPMENT FINANCE CO FLSDEV 04/27 FIXED 5          | CUSIP: 34061UEX2<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25671.43     | 0.03%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corporation                                | FLORIDA DEVELOPMENT FINANCE CO FLSDEV 10/54 ADJUSTABLE VAR   | CUSIP: 34061XAG7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507037.30    | 0.56%             | 2054-10-01      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| Florida Local Government Finance Commission                            | FLORIDA LOCAL GOVERNMENT FINAN FLSFAC 11/31 FIXED 4.45       | CUSIP: 34077UAL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201977.68    | 0.22%             | 2031-11-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS ECONOMIC DEVELOPM GRADEV 11/30 FIXED 4.75                 | GRAND RAPIDS ECONOMIC DEVELOPM GRADEV 11/30 FIXED 4.75       | CUSIP: 386246HL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500139.75    | 0.56%             | 2030-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-29

**Name of Applicant:** John Hancock Municipal Securities Trust

**Signature:** /s/Salvatore Schiavone

**Name of Signer:** Salvatore Schiavone

**Title:** Treasurer