# EDGAR Filing Document

**Accession Number:** 0000883412
**File Stem:** 0001752724-25-157879
**Filing Date:** 2025-6
**Character Count:** 188974
**Document Hash:** 05560174e671469d2470141215a77863
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-157879.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-157879

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK MUNIYIELD QUALITY FUND III, INC.
- **CENTRAL INDEX KEY:** 0000883412

**ORGANIZATION NAME:**
- **EIN:** 223165131
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06540
- **FILM NUMBER:** 251076941

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLACKROCK MUNIYIELD QUALITY FUND III, INC
- **DATE OF NAME CHANGE:** 20101109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLACKROCK MUNIYIELD INSURED FUND, INC
- **DATE OF NAME CHANGE:** 20070612

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MUNIYIELD INSURED FUND INC
- **DATE OF NAME CHANGE:** 19920717

## Nport-Ex

April 30, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

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

**BlackRock MuniYield Quality Fund III, Inc. (MYI)**<br>

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

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

April 30, 2025

**BlackRock MuniYield Quality Fund III, Inc. (MYI)** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | |
|:---|:---|:---|
| *Security* | *Par* <br>*(000)*<br>| *Value* |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Alabama — 6.7%** | **Alabama — 6.7%** |  |
| &nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, RB, Series D, 5.00%, <br> 03/01/55<sup>(a)</sup><br>| $15340 | &nbsp;&nbsp; $16129616 |
| &nbsp;&nbsp;&nbsp; County of Jefferson Alabama Sewer Revenue, <br> Refunding RB, 5.25%, 10/01/49<br>| 6955 | &nbsp;&nbsp; 6992562 |
| &nbsp;&nbsp;&nbsp; Energy Southeast A Cooperative District, RB, <br> Series B-1, 5.75%, 04/01/54<sup>(a)</sup><br>| 3960 | &nbsp;&nbsp; 4319083 |
| &nbsp;&nbsp;&nbsp; Huntsville Public Building Authority, RB, 5.00%, <br> 02/01/47<br>| 5000 | &nbsp;&nbsp; 5148509 |
| &nbsp;&nbsp;&nbsp; Southeast Alabama Gas Supply District, Refunding RB, <br> Series B, 5.00%, 06/01/49<sup>(a)</sup><br>| 6575 | &nbsp;&nbsp; 6830880 |
| &nbsp;&nbsp;&nbsp; Southeast Energy Authority A Cooperative District, <br> RB<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 01/01/56 | 2620 | &nbsp;&nbsp; 2683966 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 01/01/54 | 9000 | &nbsp;&nbsp; 9349485 |
|  |  | &nbsp;&nbsp; 51454101 |
| **Arizona**<sup>(b)</sup> **— 1.1%** | **Arizona**<sup>(b)</sup> **— 1.1%** |  |
| Arizona Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 07/01/39 | 810 | &nbsp;&nbsp; 715623 |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/01/54 | 945 | &nbsp;&nbsp; 799810 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/49 | 1675 | &nbsp;&nbsp; 1460231 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/54 | 1290 | &nbsp;&nbsp; 1090722 |
| &nbsp;&nbsp;&nbsp; Industrial Development Authority of the County of <br> Pima, Refunding RB, 5.00%, 06/15/52<br>| 1620 | &nbsp;&nbsp; 1499946 |
| &nbsp;&nbsp;&nbsp; Maricopa County Industrial Development Authority, <br> Refunding RB, 5.00%, 07/01/54<br>| 855 | &nbsp;&nbsp; 775091 |
| &nbsp;&nbsp;&nbsp; Sierra Vista Industrial Development Authority, RB, <br> 5.75%, 06/15/53<br>| 2500 | &nbsp;&nbsp; 2520404 |
|  |  | &nbsp;&nbsp; 8861827 |
| **Arkansas — 0.7%** | **Arkansas — 0.7%** |  |
| Arkansas Development Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 4.50%, 09/01/49<sup>(b)</sup> | 4100 | &nbsp;&nbsp; 3613092 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 5.70%, 05/01/53 | 1430 | &nbsp;&nbsp; 1438837 |
|  |  | &nbsp;&nbsp; 5051929 |
| **California — 11.5%** | **California — 11.5%** |  |
| California Community Choice Financing Authority, RB<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.00%, 07/01/53 | 2900 | &nbsp;&nbsp; 3005724 |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.50%, 10/01/54 | 4970 | &nbsp;&nbsp; 5349269 |
| &nbsp;&nbsp;&nbsp; Series G, Sustainability Bonds, 5.00%, 11/01/55 | 6125 | &nbsp;&nbsp; 6293316 |
| &nbsp;&nbsp;&nbsp; California Enterprise Development Authority, RB, <br> 8.00%, 11/15/62<sup>(b)</sup><br>| 1250 | &nbsp;&nbsp; 1217697 |
| &nbsp;&nbsp;&nbsp; California Infrastructure & Economic Development <br> Bank, Refunding RB, Series A, Class B, AMT, <br> Sustainability Bonds, 9.50%, 01/01/65<sup>(a)(b)</sup><br>| 3900 | &nbsp;&nbsp; 3750994 |
| &nbsp;&nbsp;&nbsp; Central Valley Energy Authority, RB, 5.00%, <br> 12/01/55<sup>(a)</sup><br>| 1630 | &nbsp;&nbsp; 1751396 |
| &nbsp;&nbsp;&nbsp; City of Los Angeles Department of Airports, Refunding <br> ARB, Series A, AMT, Sustainability Bonds, 5.50%, <br> 05/15/55<br>| 3485 | &nbsp;&nbsp; 3643263 |
| &nbsp;&nbsp;&nbsp; CSCDA Community Improvement Authority, RB, M/F <br> Housing, Sustainability Bonds, 5.00%, 09/01/37<sup>(b)</sup><br>| 260 | &nbsp;&nbsp; 256929 |
| &nbsp;&nbsp;&nbsp; Grossmont Union High School District, GO, Election <br> 2004, 0.00%, 08/01/31<sup>(c)</sup><br>| 5110 | &nbsp;&nbsp; 4119859 |
| &nbsp;&nbsp;&nbsp; Long Beach Unified School District, GO, Series B, <br> Election 2008, 0.00%, 08/01/34<sup>(c)</sup><br>| 5000 | &nbsp;&nbsp; 3530298 |
| &nbsp;&nbsp;&nbsp; Mount San Antonio Community College District, <br> Refunding GO, CAB, Series A, Convertible, Election <br> 2008, 6.25%, 08/01/43<sup>(d)</sup><br>| 3975 | &nbsp;&nbsp; 3774611 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **California (continued)** | **California (continued)** |  |
| &nbsp;&nbsp;&nbsp; Norwalk-La Mirada Unified School District, Refunding <br> GO, Series E, Election 2002, (AGC), 0.00%, <br> 08/01/38<sup>(c)</sup><br>| 7620 | &nbsp;&nbsp; $4286470 |
| Poway Unified School District, Refunding GO<sup>(c)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/35 | 7820 | &nbsp;&nbsp; 5139019 |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/36 | 10000 | &nbsp;&nbsp; 6368985 |
| Rio Hondo Community College District, GO<sup>(c)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series C, Election 2004, 0.00%, 08/01/37 | 8000 | &nbsp;&nbsp; 4802754 |
| &nbsp;&nbsp;&nbsp; Series C, Election 2004, 0.00%, 08/01/38 | 12940 | &nbsp;&nbsp; 7333335 |
| &nbsp;&nbsp;&nbsp; San Diego Unified School District, Refunding GO, <br> CAB, Series R-1, 0.00%, 07/01/31<sup>(c)</sup><br>| 3485 | &nbsp;&nbsp; 2817516 |
| &nbsp;&nbsp;&nbsp; San Francisco City & County Airport Comm-San <br> Francisco International Airport, Refunding ARB, <br> Series A, AMT, 5.00%, 05/01/44<br>| 14215 | &nbsp;&nbsp; 14117043 |
| &nbsp;&nbsp;&nbsp; State of California, GO, Series 2007-2, (NPFGC-IBC), <br> 5.50%, 04/01/30<br>| 10 | &nbsp;&nbsp; 10015 |
| &nbsp;&nbsp;&nbsp; Val Verde Unified School District, GO, Series G, <br> Election 2012, (AGM), 4.00%, 08/01/48<br>| 3830 | &nbsp;&nbsp; 3471170 |
| &nbsp;&nbsp;&nbsp; Walnut Valley Unified School District, GO, Series B, <br> Election 2007, 0.00%, 08/01/36<sup>(c)</sup><br>| 6545 | &nbsp;&nbsp; 3856287 |
|  |  | &nbsp;&nbsp; 88895950 |
| **Colorado — 1.6%** | **Colorado — 1.6%** |  |
| &nbsp;&nbsp;&nbsp; City & County of Denver Colorado Airport System <br> Revenue, Refunding ARB, Series D, AMT, 5.75%, <br> 11/15/37<br>| 5000 | &nbsp;&nbsp; 5448007 |
| Colorado Health Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 11/01/42 | 2500 | &nbsp;&nbsp; 2542566 |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/01/52 | 2750 | &nbsp;&nbsp; 2824497 |
| &nbsp;&nbsp;&nbsp; Denver Convention Center Hotel Authority, Refunding <br> RB, 5.00%, 12/01/40<br>| 1605 | &nbsp;&nbsp; 1556167 |
|  |  | &nbsp;&nbsp; 12371237 |
| **Connecticut — 0.4%** | **Connecticut — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; Connecticut Housing Finance Authority, Refunding RB, <br> S/F Housing, Series D, Sustainability Bonds, 6.25%, <br> 05/15/54<br>| 2620 | &nbsp;&nbsp; 2802127 |
| **District of Columbia — 0.4%** | **District of Columbia — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; Metropolitan Washington Airports Authority Aviation <br> Revenue, Refunding ARB, Series A, AMT, 5.25%, <br> 10/01/49<br>| 1430 | &nbsp;&nbsp; 1453570 |
| &nbsp;&nbsp;&nbsp; Washington Metropolitan Area Transit Authority <br> Dedicated Revenue, RB, Series A, Sustainability <br> Bonds, 4.13%, 07/15/47<br>| 1890 | &nbsp;&nbsp; 1717972 |
|  |  | &nbsp;&nbsp; 3171542 |
| **Florida — 12.5%** | **Florida — 12.5%** |  |
| Capital Trust Agency, Inc., RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/01/55 | 1640 | &nbsp;&nbsp; 1458489 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/01/55 | 1475 | &nbsp;&nbsp; 1138097 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 06/01/57 | 500 | &nbsp;&nbsp; 414404 |
| &nbsp;&nbsp;&nbsp; City of Fort Lauderdale Florida Water & Sewer <br> Revenue, RB, Series B, 5.50%, 09/01/48<br>| 4315 | &nbsp;&nbsp; 4655256 |
| &nbsp;&nbsp;&nbsp; City of Jacksonville Florida, Refunding RB, Series A, <br> 5.25%, 10/01/47<br>| 3930 | &nbsp;&nbsp; 3983612 |
| &nbsp;&nbsp;&nbsp; City of Lakeland Florida Department of Electric Utilities, <br> Refunding RB, 4.25%, 10/01/48<br>| 5000 | &nbsp;&nbsp; 4704303 |
| &nbsp;&nbsp;&nbsp; City of South Miami Health Facilities Authority, Inc., <br> Refunding RB, 5.00%, 08/15/47<br>| 3655 | &nbsp;&nbsp; 3560666 |
| City of Tampa Florida, RB, CAB<sup>(c)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 0.00%, 09/01/40 | 2290 | &nbsp;&nbsp; 1132432 |
| &nbsp;&nbsp;&nbsp; Series A, 0.00%, 09/01/42 | 1150 | &nbsp;&nbsp; 508038 |
| &nbsp;&nbsp;&nbsp; Series A, 0.00%, 09/01/45 | 2000 | &nbsp;&nbsp; 738479 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniYield Quality Fund III, Inc. (MYI)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Florida (continued)** | **Florida (continued)** |  |
| &nbsp;&nbsp;&nbsp; County of Broward Florida Water & Sewer Utility <br> Revenue, RB, Series A, 4.00%, 10/01/47<br>| 5000 | &nbsp;&nbsp; $4539197 |
| &nbsp;&nbsp;&nbsp; County of Miami-Dade Florida Aviation Revenue, <br> Refunding ARB, Series A, AMT, 5.50%, 10/01/55<br>| 7500 | &nbsp;&nbsp; 7765359 |
| &nbsp;&nbsp;&nbsp; County of Miami-Dade Florida Aviation Revenue, <br> Refunding RB, Series B, AMT, 5.00%, 10/01/40<br>| 2865 | &nbsp;&nbsp; 2866088 |
| &nbsp;&nbsp;&nbsp; County of Miami-Dade Seaport Department, Refunding <br> RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.25%, 10/01/52 | 5980 | &nbsp;&nbsp; 6059122 |
| &nbsp;&nbsp;&nbsp; Series B-2, AMT, Subordinate, 4.00%, 10/01/50 | 3500 | &nbsp;&nbsp; 2940022 |
| County of Pasco Florida, RB |  |  |
| &nbsp;&nbsp;&nbsp; (AGM), 5.00%, 09/01/48 | 12670 | &nbsp;&nbsp; 12906528 |
| &nbsp;&nbsp;&nbsp; (AGM), 5.75%, 09/01/54 | 1400 | &nbsp;&nbsp; 1486340 |
| &nbsp;&nbsp;&nbsp; East Central Regional Wastewater Treatment Facilities <br> Operation Board, Refunding RB, 5.00%, 10/01/44<br>| 13925 | &nbsp;&nbsp; 14098833 |
| Florida Development Finance Corp., RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/30/57<sup>(e)(f)</sup> | 617 | &nbsp;&nbsp; 163792 |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 05/01/29 | 1500 | &nbsp;&nbsp; 1515135 |
| Greater Orlando Aviation Authority, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 10/01/34 | 5060 | &nbsp;&nbsp; 5165790 |
| &nbsp;&nbsp;&nbsp; Sub-Series A, AMT, 5.00%, 10/01/42 | 4310 | &nbsp;&nbsp; 4322108 |
| &nbsp;&nbsp;&nbsp; Hillsborough County Aviation Authority, ARB, AMT, <br> 5.00%, 10/01/47<br>| 2500 | &nbsp;&nbsp; 2487567 |
| &nbsp;&nbsp;&nbsp; Hillsborough County Industrial Development Authority, <br> Refunding RB, Series C, 5.25%, 11/15/49<br>| 715 | &nbsp;&nbsp; 749856 |
| &nbsp;&nbsp;&nbsp; Kindred Community Development District II, SAB, <br> 5.88%, 05/01/54<br>| 500 | &nbsp;&nbsp; 504318 |
| &nbsp;&nbsp;&nbsp; Lakewood Ranch Stewardship District, SAB, 6.30%, <br> 05/01/54<br>| 705 | &nbsp;&nbsp; 730096 |
| &nbsp;&nbsp;&nbsp; Parker Road Community Development District, <br> Refunding SAB, 3.88%, 05/01/40<br>| 900 | &nbsp;&nbsp; 719595 |
| Seminole Improvement District, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/01/32 | 230 | &nbsp;&nbsp; 229083 |
| &nbsp;&nbsp;&nbsp; 5.30%, 10/01/37 | 260 | &nbsp;&nbsp; 255336 |
| &nbsp;&nbsp;&nbsp; Viera Stewardship District, SAB, Series 2023, 5.50%, <br> 05/01/54<br>| 790 | &nbsp;&nbsp; 763603 |
| &nbsp;&nbsp;&nbsp; Village Community Development District No. 14, SAB, <br> 5.50%, 05/01/53<br>| 1645 | &nbsp;&nbsp; 1688460 |
| &nbsp;&nbsp;&nbsp; Village Community Development District No. 15, SAB, <br> 5.25%, 05/01/54<sup>(b)</sup><br>| 720 | &nbsp;&nbsp; 720856 |
| &nbsp;&nbsp;&nbsp; Westside Community Development District, Refunding <br> SAB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.10%, 05/01/37 | 640 | &nbsp;&nbsp; 577895 |
| &nbsp;&nbsp;&nbsp; 4.13%, 05/01/38 | 630 | &nbsp;&nbsp; 563753 |
|  |  | &nbsp;&nbsp; 96112508 |
| **Georgia — 1.9%** | **Georgia — 1.9%** |  |
| &nbsp;&nbsp;&nbsp; East Point Business & Industrial Development <br> Authority, RB, Series A, 5.25%, 06/15/62<sup>(b)</sup><br>| 630 | &nbsp;&nbsp; 425250 |
| Main Street Natural Gas, Inc., RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 05/15/43 | 1105 | &nbsp;&nbsp; 1112538 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/01/53<sup>(a)</sup> | 4195 | &nbsp;&nbsp; 4332232 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 07/01/53<sup>(a)</sup> | 2915 | &nbsp;&nbsp; 3034341 |
| &nbsp;&nbsp;&nbsp; Series C, 5.00%, 09/01/53<sup>(a)</sup> | 2445 | &nbsp;&nbsp; 2550674 |
| &nbsp;&nbsp;&nbsp; Main Street Natural Gas, Inc., Refunding RB, <br> Series E-1, 5.00%, 12/01/53<sup>(a)</sup><br>| 3000 | &nbsp;&nbsp; 3129073 |
|  |  | &nbsp;&nbsp; 14584108 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Hawaii — 1.2%** | **Hawaii — 1.2%** |  |
| &nbsp;&nbsp;&nbsp; State of Hawaii Airports System Revenue, ARB, <br> Series A, AMT, 5.25%, 07/01/51<br>| $5140 | &nbsp;&nbsp; $5233713 |
| State of Hawaii Airports System Revenue, COP |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 08/01/27 | 2000 | &nbsp;&nbsp; 2004271 |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 08/01/28 | 1775 | &nbsp;&nbsp; 1776331 |
|  |  | &nbsp;&nbsp; 9014315 |
| **Idaho — 1.0%** | **Idaho — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Idaho Housing & Finance Association, RB, Series A, <br> 5.25%, 08/15/48<br>| 7250 | &nbsp;&nbsp; 7652703 |
| **Illinois — 8.8%** | **Illinois — 8.8%** |  |
| &nbsp;&nbsp;&nbsp; Chicago Board of Education, GO, Series A, 5.00%, <br> 12/01/40<br>| 1270 | &nbsp;&nbsp; 1237516 |
| &nbsp;&nbsp;&nbsp; Chicago Board of Education, Refunding GO, Series B, <br> 5.00%, 12/01/36<br>| 1300 | &nbsp;&nbsp; 1291640 |
| Chicago O'Hare International Airport, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Class A, AMT, Senior Lien, 5.00%, 01/01/48 | 1935 | &nbsp;&nbsp; 1919949 |
| &nbsp;&nbsp;&nbsp; Series D, Senior Lien, 5.25%, 01/01/42 | 8285 | &nbsp;&nbsp; 8400712 |
| &nbsp;&nbsp;&nbsp; Chicago Transit Authority Sales Tax Receipts Fund, <br> RB, 2nd Lien, (AGM-CR), 5.00%, 12/01/46<br>| 4565 | &nbsp;&nbsp; 4598230 |
| &nbsp;&nbsp;&nbsp; Illinois Finance Authority, Refunding RB, 4.00%, <br> 08/15/41<br>| 1750 | &nbsp;&nbsp; 1614599 |
| &nbsp;&nbsp;&nbsp; Illinois Housing Development Authority, RB, S/F <br> Housing, Series N, Sustainability Bonds, (FHLMC, <br> FNMA, GNMA), 6.25%, 04/01/54<br>| 2625 | &nbsp;&nbsp; 2817325 |
| Metropolitan Pier & Exposition Authority, RB<sup>(c)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, (NPFGC), 0.00%, 12/15/33 | 20000 | &nbsp;&nbsp; 13543044 |
| &nbsp;&nbsp;&nbsp; Series A, (NPFGC), 0.00%, 12/15/34 | 41880 | &nbsp;&nbsp; 27097647 |
| &nbsp;&nbsp;&nbsp; Metropolitan Pier & Exposition Authority, Refunding <br> RB, Series B, (AGM), 0.00%, 06/15/44<sup>(c)</sup><br>| 9430 | &nbsp;&nbsp; 3677413 |
| State of Illinois, GO, Series B, 5.25%, 05/01/43 | 1640 | &nbsp;&nbsp; 1691805 |
|  |  | &nbsp;&nbsp; 67889880 |
| **Indiana — 0.4%** | **Indiana — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; Avon Community School Building Corp., RB, 5.50%, <br> 01/15/43<br>| 1500 | &nbsp;&nbsp; 1620671 |
| &nbsp;&nbsp;&nbsp; Indiana Finance Authority, RB, Series A, 1st Lien, <br> Sustainability Bonds, 4.00%, 10/01/51<br>| 2025 | &nbsp;&nbsp; 1776089 |
|  |  | &nbsp;&nbsp; 3396760 |
| **Kentucky — 3.7%** | **Kentucky — 3.7%** |  |
| &nbsp;&nbsp;&nbsp; City of Henderson Kentucky, RB, Series A, AMT, <br> 4.70%, 01/01/52<sup>(b)</sup><br>| 475 | &nbsp;&nbsp; 430920 |
| Kentucky Public Energy Authority, Refunding RB<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, 5.25%, 04/01/54 | 11055 | &nbsp;&nbsp; 11683537 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 01/01/55 | 6320 | &nbsp;&nbsp; 6612590 |
| &nbsp;&nbsp;&nbsp; Kentucky Public Transportation Infrastructure Authority, <br> RB, CAB, Convertible, 6.60%, 07/01/39<sup>(d)</sup><br>| 8225 | &nbsp;&nbsp; 9391537 |
|  |  | &nbsp;&nbsp; 28118584 |
| **Louisiana — 0.9%** | **Louisiana — 0.9%** |  |
| &nbsp;&nbsp;&nbsp; City of Lafayette Louisiana Utilities Revenue, RB, <br> (AGC), 5.00%, 11/01/49<br>| 1195 | &nbsp;&nbsp; 1220389 |
| &nbsp;&nbsp;&nbsp; Louisiana Public Facilities Authority, RB, 5.25%, <br> 10/01/53<br>| 4010 | &nbsp;&nbsp; 3987743 |
| &nbsp;&nbsp;&nbsp; Parish of East Baton Rouge Capital Improvements <br> District, RB, 5.00%, 08/01/46<br>| 2020 | &nbsp;&nbsp; 2099746 |
|  |  | &nbsp;&nbsp; 7307878 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniYield Quality Fund III, Inc. (MYI)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Maryland — 0.3%** | **Maryland — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; Maryland Health & Higher Educational Facilities <br> Authority, RB, Series B, 4.00%, 04/15/50<br>| $2815 | &nbsp;&nbsp; $2437453 |
| **Massachusetts — 2.0%** | **Massachusetts — 2.0%** |  |
| &nbsp;&nbsp;&nbsp; Commonwealth of Massachusetts, GOL, Series D, <br> 5.00%, 10/01/50<br>| 5000 | &nbsp;&nbsp; 5149415 |
| &nbsp;&nbsp;&nbsp; Massachusetts Development Finance Agency, RB, <br> Series A, 5.00%, 01/01/47<br>| 9720 | &nbsp;&nbsp; 9229883 |
| &nbsp;&nbsp;&nbsp; Massachusetts Housing Finance Agency, Refunding <br> RB, Series A, AMT, 4.45%, 12/01/42<br>| 1080 | &nbsp;&nbsp; 1007055 |
|  |  | &nbsp;&nbsp; 15386353 |
| **Michigan — 5.3%** | **Michigan — 5.3%** |  |
| &nbsp;&nbsp;&nbsp; Lansing Board of Water & Light, RB, Series A, 5.00%, <br> 07/01/51<br>| 1600 | &nbsp;&nbsp; 1637778 |
| &nbsp;&nbsp;&nbsp; Lansing Board of Water & Light, Refunding RB, <br> Series A, 5.00%, 07/01/44<br>| 2335 | &nbsp;&nbsp; 2380982 |
| Michigan Finance Authority, RB, 4.00%, 02/15/47 | 1855 | &nbsp;&nbsp; 1652711 |
| &nbsp;&nbsp;&nbsp; Michigan State Housing Development Authority, RB, <br> M/F Housing, Series A, 5.00%, 10/01/48<br>| 8405 | &nbsp;&nbsp; 8549113 |
| &nbsp;&nbsp;&nbsp; Michigan State Housing Development Authority, RB, <br> S/F Housing, Series D, Sustainability Bonds, 5.50%, <br> 06/01/53<sup>(b)</sup><br>| 4150 | &nbsp;&nbsp; 4318018 |
| &nbsp;&nbsp;&nbsp; Michigan State University, Refunding RB, Series B, <br> 5.00%, 02/15/48<br>| 10000 | &nbsp;&nbsp; 10175540 |
| Michigan Strategic Fund, RB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 4.25%, 12/31/38 | 2000 | &nbsp;&nbsp; 1877649 |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 12/31/43 | 7940 | &nbsp;&nbsp; 7939989 |
| &nbsp;&nbsp;&nbsp; State of Michigan Trunk Line Revenue, RB, 4.00%, <br> 11/15/46<br>| 2500 | &nbsp;&nbsp; 2284008 |
|  |  | &nbsp;&nbsp; 40815788 |
| **Minnesota — 0.4%** | **Minnesota — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency, RB, S/F Housing, <br> Series M, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 6.00%, 01/01/53<br>| 2850 | &nbsp;&nbsp; 2989052 |
| **Nebraska — 1.0%** | **Nebraska — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Nebraska Investment Finance Authority, RB, S/F <br> Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 5.00%, 03/01/49<br>| 1750 | &nbsp;&nbsp; 1777932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 4.70%, 09/01/49<br>| 5835 | &nbsp;&nbsp; 5661612 |
|  |  | &nbsp;&nbsp; 7439544 |
| **Nevada — 0.4%** | **Nevada — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; City of Las Vegas Nevada Special Improvement District <br> No. 814, SAB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/01/39 | 365 | &nbsp;&nbsp; 324791 |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/01/44 | 975 | &nbsp;&nbsp; 818693 |
| Tahoe-Douglas Visitors Authority, RB, 5.00%, 07/01/51 | 1610 | &nbsp;&nbsp; 1578329 |
|  |  | &nbsp;&nbsp; 2721813 |
| **New Hampshire — 0.3%** | **New Hampshire — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; New Hampshire Business Finance Authority, <br> Series 2025-1, Class A1, 4.17%, 01/20/41<sup>(a)</sup><br>| 1199 | &nbsp;&nbsp; 1138553 |
| &nbsp;&nbsp;&nbsp; New Hampshire Business Finance Authority, RB, M/F <br> Housing, Class B, 5.75%, 04/28/42<br>| 1540 | &nbsp;&nbsp; 1552029 |
|  |  | &nbsp;&nbsp; 2690582 |
| **New Jersey — 8.2%** | **New Jersey — 8.2%** |  |
| New Jersey Economic Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series WW, 5.00%, 06/15/25<sup>(g)</sup> | 3205 | &nbsp;&nbsp; 3211105 |
| &nbsp;&nbsp;&nbsp; Series WW, 5.25%, 06/15/25<sup>(g)</sup> | 500 | &nbsp;&nbsp; 501093 |
| &nbsp;&nbsp;&nbsp; AMT, 5.13%, 01/01/34 | 1930 | &nbsp;&nbsp; 1930304 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **New Jersey (continued)** | **New Jersey (continued)** |  |
| &nbsp;&nbsp;&nbsp; New Jersey Economic Development Authority, <br> RB (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.38%, 01/01/43 | 4920 | &nbsp;&nbsp; $4921604 |
| &nbsp;&nbsp;&nbsp; New Jersey Economic Development Authority, <br> Refunding RB, Series N-1, (NPFGC), 5.50%, <br> 09/01/28<br>| 1685 | &nbsp;&nbsp; 1791796 |
| New Jersey Transportation Trust Fund Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, (NPFGC), 5.75%, 06/15/25 | 4000 | &nbsp;&nbsp; 4010939 |
| &nbsp;&nbsp;&nbsp; Series BB, 5.00%, 06/15/46 | 5825 | &nbsp;&nbsp; 5932118 |
| &nbsp;&nbsp;&nbsp; Series C, (AGC-ICC AMBAC), 0.00%, 12/15/25<sup>(c)</sup> | 8550 | &nbsp;&nbsp; 8383523 |
| &nbsp;&nbsp;&nbsp; New Jersey Transportation Trust Fund Authority, RB, <br> CAB, Series A, 0.00%, 12/15/35<sup>(c)</sup><br>| 10000 | &nbsp;&nbsp; 6464185 |
| &nbsp;&nbsp;&nbsp; New Jersey Transportation Trust Fund Authority, <br> Refunding RB, Series A, 4.25%, 06/15/40<br>| 10945 | &nbsp;&nbsp; 10618303 |
| &nbsp;&nbsp;&nbsp; New Jersey Turnpike Authority, RB, Series B, 5.25%, <br> 01/01/49<br>| 5265 | &nbsp;&nbsp; 5588062 |
| Tobacco Settlement Financing Corp., Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/01/46 | 7310 | &nbsp;&nbsp; 7264103 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 06/01/46 | 545 | &nbsp;&nbsp; 547370 |
| &nbsp;&nbsp;&nbsp; Sub-Series B, 5.00%, 06/01/46 | 2330 | &nbsp;&nbsp; 2230761 |
|  |  | &nbsp;&nbsp; 63395266 |
| **New Mexico — 0.1%** | **New Mexico — 0.1%** |  |
| &nbsp;&nbsp;&nbsp; City of Santa Fe New Mexico, RB, Series A, 5.00%, <br> 05/15/44<br>| 425 | &nbsp;&nbsp; 404362 |
| **New York — 13.8%** | **New York — 13.8%** |  |
| City of New York, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series B, 5.25%, 10/01/42 | 2500 | &nbsp;&nbsp; 2671122 |
| &nbsp;&nbsp;&nbsp; Series - G-1, 5.25%, 02/01/53 | 660 | &nbsp;&nbsp; 695901 |
| &nbsp;&nbsp;&nbsp; Metropolitan Transportation Authority, Refunding RB, <br> Series A-1, Sustainability Bonds, 5.25%, 11/15/57<br>| 3050 | &nbsp;&nbsp; 3058138 |
| &nbsp;&nbsp;&nbsp; New York City Municipal Water Finance Authority, RB, <br> Series BB, 5.25%, 06/15/55<br>| 1700 | &nbsp;&nbsp; 1806072 |
| &nbsp;&nbsp;&nbsp; New York City Municipal Water Finance Authority, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series DD, 4.13%, 06/15/46 | 3825 | &nbsp;&nbsp; 3625617 |
| &nbsp;&nbsp;&nbsp; Series DD, 4.13%, 06/15/47 | 4650 | &nbsp;&nbsp; 4362184 |
| &nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority Future <br> Tax Secured Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, 5.00%, 08/01/38 | 2500 | &nbsp;&nbsp; 2585852 |
| &nbsp;&nbsp;&nbsp; Series D-1, 5.25%, 11/01/48 | 5000 | &nbsp;&nbsp; 5250661 |
| &nbsp;&nbsp;&nbsp; Series E-1, 4.00%, 02/01/42 | 3325 | &nbsp;&nbsp; 3171433 |
| &nbsp;&nbsp;&nbsp; Series C-1, Subordinate, 4.00%, 02/01/42 | 8000 | &nbsp;&nbsp; 7532034 |
| &nbsp;&nbsp;&nbsp; Series C-1, Subordinate, 4.00%, 02/01/43 | 6355 | &nbsp;&nbsp; 5965922 |
| New York City Transitional Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series H-1, 5.00%, 11/01/50 | 5000 | &nbsp;&nbsp; 5148616 |
| &nbsp;&nbsp;&nbsp; Series C-S, Subordinate, 5.00%, 05/01/50 | 8410 | &nbsp;&nbsp; 8636677 |
| New York Liberty Development Corp., Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Class 1, 5.00%, 11/15/44<sup>(b)</sup> | 3055 | &nbsp;&nbsp; 3036017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, (BAM-TCRS), <br> 3.00%, 11/15/51<br>| 7430 | &nbsp;&nbsp; 4932846 |
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority, Refunding RB, <br> Series E, 4.00%, 03/15/46<br>| 1825 | &nbsp;&nbsp; 1667366 |
| New York Transportation Development Corp., ARB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.63%, 04/01/40 | 1555 | &nbsp;&nbsp; 1611253 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.25%, 01/01/50 | 2360 | &nbsp;&nbsp; 2330186 |
| New York Transportation Development Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 10/01/35 | 3275 | &nbsp;&nbsp; 3320754 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, (AGM), 5.00%, 06/30/49 | 2945 | &nbsp;&nbsp; 2920496 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, (AGM), 5.25%, 06/30/60 | 6800 | &nbsp;&nbsp; 6848892 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 5.50%, 06/30/60 | 3950 | &nbsp;&nbsp; 3982510 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniYield Quality Fund III, Inc. (MYI)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **New York (continued)** | **New York (continued)** |  |
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, ARB, AMT, <br> 4.00%, 09/01/43<br>| 3000 | &nbsp;&nbsp; $2640944 |
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, Refunding <br> RB, Series 226, AMT, 5.00%, 10/15/39<br>| 2500 | &nbsp;&nbsp; 2582581 |
| &nbsp;&nbsp;&nbsp; Triborough Bridge & Tunnel Authority Sales Tax <br> Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 05/15/48 | 10090 | &nbsp;&nbsp; 9083428 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 05/15/52 | 1325 | &nbsp;&nbsp; 1380974 |
| &nbsp;&nbsp;&nbsp; Triborough Bridge & Tunnel Authority, RB, 5.25%, <br> 12/01/48<br>| 5125 | &nbsp;&nbsp; 5403555 |
|  |  | &nbsp;&nbsp; 106252031 |
| **North Dakota — 1.2%** | **North Dakota — 1.2%** |  |
| &nbsp;&nbsp;&nbsp; North Dakota Housing Finance Agency, RB, S/F <br> Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, 4.70%, 07/01/49 | 3030 | &nbsp;&nbsp; 2953468 |
| &nbsp;&nbsp;&nbsp; Series C, Sustainability Bonds, 4.75%, 07/01/49 | 6245 | &nbsp;&nbsp; 6145695 |
|  |  | &nbsp;&nbsp; 9099163 |
| **Ohio — 4.1%** | **Ohio — 4.1%** |  |
| &nbsp;&nbsp;&nbsp; Buckeye Tobacco Settlement Financing Authority, <br> Refunding RB, Series B-2, Class 2, 5.00%, <br> 06/01/55<br>| 6970 | &nbsp;&nbsp; 6000629 |
| &nbsp;&nbsp;&nbsp; Columbus Regional Airport Authority, Refunding ARB, <br> AMT, 5.50%, 01/01/55<br>| 20000 | &nbsp;&nbsp; 20775995 |
| &nbsp;&nbsp;&nbsp; County of Franklin Ohio, RB, Series A, 5.00%, <br> 12/01/47<br>| 4500 | &nbsp;&nbsp; 4510456 |
|  |  | &nbsp;&nbsp; 31287080 |
| **Oklahoma — 0.3%** | **Oklahoma — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; Oklahoma Turnpike Authority, RB, Series A, 5.25%, <br> 01/01/50<br>| 2000 | &nbsp;&nbsp; 2139286 |
| **Oregon — 0.8%** | **Oregon — 0.8%** |  |
| &nbsp;&nbsp;&nbsp; Clackamas County School District No. 12 North <br> Clackamas, GO, CAB, Series A, (GTD), 0.00%, <br> 06/15/38<sup>(c)</sup><br>| 2800 | &nbsp;&nbsp; 1476843 |
| &nbsp;&nbsp;&nbsp; Port of Portland Oregon Airport Revenue, Refunding <br> ARB, Series 29, AMT, Sustainability Bonds, 5.50%, <br> 07/01/48<br>| 4800 | &nbsp;&nbsp; 5013330 |
|  |  | &nbsp;&nbsp; 6490173 |
| **Pennsylvania — 9.2%** | **Pennsylvania — 9.2%** |  |
| &nbsp;&nbsp;&nbsp; Allegheny County Airport Authority, ARB, Series A, <br> AMT, (AGM), 5.50%, 01/01/48<br>| 785 | &nbsp;&nbsp; 814949 |
| &nbsp;&nbsp;&nbsp; Bucks County Industrial Development Authority, RB, <br> 4.00%, 07/01/46<br>| 405 | &nbsp;&nbsp; 335182 |
| &nbsp;&nbsp;&nbsp; City of Philadelphia Pennsylvania Airport Revenue, <br> Refunding ARB, Series B, AMT, 5.00%, 07/01/42<br>| 6325 | &nbsp;&nbsp; 6364461 |
| &nbsp;&nbsp;&nbsp; City of Philadelphia Pennsylvania Water & Wastewater <br> Revenue, RB, Series C, (AGC), 5.25%, 09/01/49<br>| 2395 | &nbsp;&nbsp; 2507534 |
| &nbsp;&nbsp;&nbsp; Montgomery County Industrial Development Authority, <br> RB, Series C, 5.00%, 11/15/45<br>| 450 | &nbsp;&nbsp; 446739 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Economic Development Financing <br> Authority, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/30/42 | 13560 | &nbsp;&nbsp; 13355021 |
| &nbsp;&nbsp;&nbsp; AMT, 5.75%, 06/30/48 | 1645 | &nbsp;&nbsp; 1691819 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Higher Educational Facilities Authority, <br> Refunding RB, Series B-1, (AGC), 5.25%, 11/01/48<br>| 1675 | &nbsp;&nbsp; 1730159 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Housing Finance Agency, RB, S/F <br> Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series 143A, Sustainability Bonds, 6.25%, 10/01/53 | 9205 | &nbsp;&nbsp; 9924486 |
| &nbsp;&nbsp;&nbsp; Series 148A, Sustainability Bonds, 4.75%, 10/01/50 | 10000 | &nbsp;&nbsp; 9955714 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Turnpike Commission Oil Franchise Tax <br> Revenue, RB, Series B, 5.00%, 12/01/43<br>| 5000 | &nbsp;&nbsp; 5080571 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Pennsylvania (continued)** | **Pennsylvania (continued)** |  |
| Pennsylvania Turnpike Commission, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, 5.00%, 12/01/41 | 4740 | &nbsp;&nbsp; $4763013 |
| &nbsp;&nbsp;&nbsp; Series C, 5.25%, 12/01/54 | 8000 | &nbsp;&nbsp; 8407441 |
| Pennsylvania Turnpike Commission, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series B, 5.25%, 12/01/44 | 1500 | &nbsp;&nbsp; 1588025 |
| &nbsp;&nbsp;&nbsp; Series C, 5.00%, 12/01/46 | 1415 | &nbsp;&nbsp; 1453500 |
| &nbsp;&nbsp;&nbsp; Series 2017-3, Subordinate, 5.00%, 12/01/40 | 2330 | &nbsp;&nbsp; 2362084 |
|  |  | &nbsp;&nbsp; 70780698 |
| **Puerto Rico — 2.9%** | **Puerto Rico — 2.9%** |  |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax <br> Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 4.75%, 07/01/53 | 1274 | &nbsp;&nbsp; 1174086 |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 5.00%, 07/01/58 | 1805 | &nbsp;&nbsp; 1715285 |
| &nbsp;&nbsp;&nbsp; Series A-2, Restructured, 4.78%, 07/01/58 | 214 | &nbsp;&nbsp; 195543 |
| &nbsp;&nbsp;&nbsp; Series A-2, Restructured, 4.33%, 07/01/40 | 573 | &nbsp;&nbsp; 537339 |
| &nbsp;&nbsp;&nbsp; Series B-1, Restructured, 4.75%, 07/01/53 | 937 | &nbsp;&nbsp; 852206 |
| &nbsp;&nbsp;&nbsp; Series B-1, Restructured, 5.00%, 07/01/58 | 14927 | &nbsp;&nbsp; 14185076 |
| &nbsp;&nbsp;&nbsp; Series B-2, Restructured, 4.78%, 07/01/58 | 1261 | &nbsp;&nbsp; 1156104 |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax <br> Revenue, RB, CAB, Series A-1, Restructured, <br> 0.00%, 07/01/46<sup>(c)</sup><br>| 8715 | &nbsp;&nbsp; 2793879 |
|  |  | &nbsp;&nbsp; 22609518 |
| **South Carolina — 4.4%** | **South Carolina — 4.4%** |  |
| &nbsp;&nbsp;&nbsp; Patriots Energy Group Financing Agency, Refunding <br> RB, Series B-1, 5.25%, 02/01/54<sup>(a)</sup><br>| 7215 | &nbsp;&nbsp; 7621653 |
| &nbsp;&nbsp;&nbsp; South Carolina Jobs-Economic Development Authority, <br> RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 08/15/62<sup>(b)</sup> | 1290 | &nbsp;&nbsp; 1181097 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 11/01/46 | 4185 | &nbsp;&nbsp; 4501962 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 11/01/48 | 2995 | &nbsp;&nbsp; 3217064 |
| &nbsp;&nbsp;&nbsp; South Carolina Public Service Authority, RB, Series A, <br> 4.00%, 12/01/43<br>| 3000 | &nbsp;&nbsp; 2636735 |
| South Carolina Public Service Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 12/01/50 | 6455 | &nbsp;&nbsp; 6599080 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 12/01/51 | 5575 | &nbsp;&nbsp; 5603173 |
| &nbsp;&nbsp;&nbsp; South Carolina State Housing Finance & Development <br> Authority, RB, S/F Housing, Series B, 4.60%, <br> 07/01/49<br>| 2340 | &nbsp;&nbsp; 2324122 |
|  |  | &nbsp;&nbsp; 33684886 |
| **South Dakota — 1.0%** | **South Dakota — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; South Dakota Housing Development Authority, <br> Refunding RB, S/F Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (FHLMC, FNMA, GNMA), 4.70%, <br> 05/01/50<br>| 3410 | &nbsp;&nbsp; 3350068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (FHLMC, FNMA, GNMA), 4.70%, <br> 11/01/49<br>| 4560 | &nbsp;&nbsp; 4464460 |
|  |  | &nbsp;&nbsp; 7814528 |
| **Tennessee — 0.5%** | **Tennessee — 0.5%** |  |
| Metropolitan Nashville Airport Authority, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.50%, 07/01/41 | 1875 | &nbsp;&nbsp; 1995435 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.50%, 07/01/42 | 2000 | &nbsp;&nbsp; 2120713 |
|  |  | &nbsp;&nbsp; 4116148 |
| **Texas — 9.5%** | **Texas — 9.5%** |  |
| Arlington Higher Education Finance Corp., RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 04/01/62 | 1420 | &nbsp;&nbsp; 1363959 |
| &nbsp;&nbsp;&nbsp; 7.88%, 11/01/62 | 1195 | &nbsp;&nbsp; 1210961 |
| &nbsp;&nbsp;&nbsp; City of El Paso Texas Water & Sewer Revenue, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 03/01/49 | 3410 | &nbsp;&nbsp; 3566996 |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 03/01/44 | 5590 | &nbsp;&nbsp; 5133025 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniYield Quality Fund III, Inc. (MYI)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Texas (continued)** | **Texas (continued)** |  |
| &nbsp;&nbsp;&nbsp; City of Garland Texas Electric Utility System Revenue, <br> Refunding RB, (AGM), 4.25%, 03/01/48<br>| 635 | &nbsp;&nbsp; $593339 |
| City of Houston Texas Airport System Revenue, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 6.63%, 07/15/38 | 1295 | &nbsp;&nbsp; 1296427 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.50%, 07/15/37 | 1335 | &nbsp;&nbsp; 1342962 |
| &nbsp;&nbsp;&nbsp; City of Houston Texas Airport System Revenue, <br> Refunding RB, Series A, AMT, 5.00%, 07/01/27<br>| 690 | &nbsp;&nbsp; 689572 |
| City of Houston Texas, GOL |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 03/01/49 | 4715 | &nbsp;&nbsp; 4949985 |
| &nbsp;&nbsp;&nbsp; Series A, 4.13%, 03/01/51 | 2000 | &nbsp;&nbsp; 1773552 |
| &nbsp;&nbsp;&nbsp; City of Houston Texas, Refunding GOL, Series A, <br> 5.25%, 03/01/42<br>| 695 | &nbsp;&nbsp; 742414 |
| City of Hutto Texas, GOL, (BAM), 4.13%, 08/01/49 | 1665 | &nbsp;&nbsp; 1506347 |
| &nbsp;&nbsp;&nbsp; County of Harris Texas, Refunding GO, Series A, <br> 4.25%, 09/15/48<br>| 1320 | &nbsp;&nbsp; 1233892 |
| &nbsp;&nbsp;&nbsp; Galveston Independent School District, GO, (PSF), <br> 4.00%, 02/01/47<br>| 8075 | &nbsp;&nbsp; 7338771 |
| &nbsp;&nbsp;&nbsp; Harris County Flood Control District, Refunding GOL, <br> Series A, Sustainability Bonds, 4.00%, 09/15/48<br>| 2500 | &nbsp;&nbsp; 2233424 |
| &nbsp;&nbsp;&nbsp; Hutto Independent School District, GO, (PSF), 5.00%, <br> 08/01/48<br>| 300 | &nbsp;&nbsp; 310550 |
| &nbsp;&nbsp;&nbsp; Klein Independent School District, GO, (PSF), 4.00%, <br> 08/01/47<br>| 5000 | &nbsp;&nbsp; 4550940 |
| &nbsp;&nbsp;&nbsp; Midland County Fresh Water Supply District No. 1, RB, <br> CAB, Series A, 0.00%, 09/15/27<sup>(c)(g)</sup><br>| 5810 | &nbsp;&nbsp; 3437777 |
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp., <br> RB, Series A, 5.00%, 08/15/50<sup>(b)</sup><br>| 1385 | &nbsp;&nbsp; 1074996 |
| &nbsp;&nbsp;&nbsp; Northwest Independent School District, GO, (PSF), <br> 5.00%, 02/15/49<br>| 7635 | &nbsp;&nbsp; 7841805 |
| &nbsp;&nbsp;&nbsp; Permanent University Fund - Texas A&M University <br> System, Refunding RB, Series A, 5.00%, 07/01/54<br>| 2155 | &nbsp;&nbsp; 2236932 |
| Port Authority of Houston of Harris County Texas, ARB |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/01/46 | 1025 | &nbsp;&nbsp; 929073 |
| &nbsp;&nbsp;&nbsp; 1st Lien, 5.00%, 10/01/48 | 2195 | &nbsp;&nbsp; 2267559 |
| &nbsp;&nbsp;&nbsp; Rockwall Independent School District, GO, (PSF), <br> 4.00%, 02/15/49<br>| 2500 | &nbsp;&nbsp; 2238134 |
| &nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facilities Finance <br> Corp., RB, Series A, 4.00%, 07/01/53<br>| 960 | &nbsp;&nbsp; 847882 |
| &nbsp;&nbsp;&nbsp; Texas City Industrial Development Corp., RB, <br> Series 2012, 4.13%, 12/01/45<br>| 820 | &nbsp;&nbsp; 710842 |
| &nbsp;&nbsp;&nbsp; Texas Municipal Gas Acquisition & Supply Corp. V, RB, <br> 5.00%, 01/01/55<sup>(a)</sup><br>| 5560 | &nbsp;&nbsp; 5808434 |
| &nbsp;&nbsp;&nbsp; Texas State Technical College, RB, (AGM), 5.50%, <br> 08/01/42<br>| 3335 | &nbsp;&nbsp; 3610679 |
| &nbsp;&nbsp;&nbsp; Waller Consolidated Independent School District, GO, <br> Series A, (PSF), 4.00%, 02/15/48<br>| 2540 | &nbsp;&nbsp; 2292280 |
|  |  | &nbsp;&nbsp; 73133509 |
| **Utah — 2.3%** | **Utah — 2.3%** |  |
| &nbsp;&nbsp;&nbsp; Black Desert Public Infrastructure District, SAB, 5.63%, <br> 12/01/53<sup>(b)</sup><br>| 480 | &nbsp;&nbsp; 467144 |
| City of Salt Lake City Utah Airport Revenue, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 07/01/36 | 3475 | &nbsp;&nbsp; 3516082 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 07/01/42 | 1000 | &nbsp;&nbsp; 1000808 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 07/01/43 | 3490 | &nbsp;&nbsp; 3492228 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 07/01/48 | 3140 | &nbsp;&nbsp; 3100015 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Utah (continued)** | **Utah (continued)** |  |
| &nbsp;&nbsp;&nbsp; City of Salt Lake City Utah Airport Revenue, <br> ARB (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.25%, 07/01/48 | 5780 | &nbsp;&nbsp; $5824401 |
| &nbsp;&nbsp;&nbsp; Utah Charter School Finance Authority, RB, 5.00%, <br> 06/15/39<sup>(b)</sup><br>| 190 | &nbsp;&nbsp; 179329 |
|  |  | &nbsp;&nbsp; 17580007 |
| **Virginia — 0.6%** | **Virginia — 0.6%** |  |
| &nbsp;&nbsp;&nbsp; Henrico County Economic Development Authority, RB, <br> 11/01/48<sup>(b)(h)</sup><br>| 2180 | &nbsp;&nbsp; 2185254 |
| &nbsp;&nbsp;&nbsp; Tobacco Settlement Financing Corp., Refunding RB, <br> Series B-1, 5.00%, 06/01/47<br>| 3030 | &nbsp;&nbsp; 2679442 |
|  |  | &nbsp;&nbsp; 4864696 |
| **Washington — 0.6%** | **Washington — 0.6%** |  |
| &nbsp;&nbsp;&nbsp; Port of Seattle Washington, Refunding ARB, AMT, <br> Intermediate Lien, 5.00%, 08/01/47<br>| 4350 | &nbsp;&nbsp; 4316561 |
| **Wisconsin — 1.4%** | **Wisconsin — 1.4%** |  |
| Public Finance Authority, RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Class A, 4.25%, 06/15/31 | 270 | &nbsp;&nbsp; 243315 |
| &nbsp;&nbsp;&nbsp; Class A, 5.00%, 06/15/41 | 895 | &nbsp;&nbsp; 746987 |
| &nbsp;&nbsp;&nbsp; Class A, 5.00%, 06/15/51 | 590 | &nbsp;&nbsp; 452231 |
| &nbsp;&nbsp;&nbsp; Public Finance Authority, Refunding RB, 5.00%, <br> 09/01/49<sup>(b)</sup><br>| 845 | &nbsp;&nbsp; 770928 |
| &nbsp;&nbsp;&nbsp; Wisconsin Health & Educational Facilities Authority, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/01/46 | 5130 | &nbsp;&nbsp; 4569471 |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/01/51 | 3000 | &nbsp;&nbsp; 2588709 |
| &nbsp;&nbsp;&nbsp; Wisconsin Housing & Economic Development Authority <br> Home Ownership Revenue, RB, S/F Housing, <br> Series A, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 4.85%, 09/01/43<br>| 1080 | &nbsp;&nbsp; 1091597 |
|  |  | &nbsp;&nbsp; 10463238 |
| **Total Municipal Bonds — 123.4%** <br>**(Cost: $938,468,631)** | **Total Municipal Bonds — 123.4%** <br>**(Cost: $938,468,631)** | &nbsp;&nbsp; 949597184 |
| **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(i)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(i)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(i)</sup> |
| **Alabama — 1.5%** | **Alabama — 1.5%** |  |
| &nbsp;&nbsp;&nbsp; Alabama Special Care Facilities Financing Authority-<br> Birmingham Alabama, Refunding RB, Series B, <br> 5.00%, 11/15/46<br>| 11790 | &nbsp;&nbsp; 11806184 |
| **California — 2.8%** | **California — 2.8%** |  |
| &nbsp;&nbsp;&nbsp; Los Angeles Unified School District, GO, Series QRR, <br> Sustainability Bonds, 5.25%, 07/01/47<br>| 9750 | &nbsp;&nbsp; 10289807 |
| State of California, Refunding GO, 5.00%, 04/01/45 | 10500 | &nbsp;&nbsp; 10799996 |
|  |  | &nbsp;&nbsp; 21089803 |
| **Florida — 3.2%** | **Florida — 3.2%** |  |
| &nbsp;&nbsp;&nbsp; Central Florida Expressway Authority, RB, Series B, <br> Senior Lien, 5.00%, 07/01/49<br>| 14090 | &nbsp;&nbsp; 14212468 |
| City of Tampa Florida, RB, Series A, 5.00%, 11/15/46 | 10500 | &nbsp;&nbsp; 10509719 |
|  |  | &nbsp;&nbsp; 24722187 |
| **Illinois — 7.4%** | **Illinois — 7.4%** |  |
| &nbsp;&nbsp;&nbsp; Chicago Transit Authority Sales Tax Receipts Fund, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 12/01/49<sup>(j)</sup> | 7155 | &nbsp;&nbsp; 7259428 |
| &nbsp;&nbsp;&nbsp; Series A, Second Lien, (BAM), 5.00%, 12/01/46 | 10000 | &nbsp;&nbsp; 10128824 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniYield Quality Fund III, Inc. (MYI)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Illinois (continued)** | **Illinois (continued)** |  |
| &nbsp;&nbsp;&nbsp; Illinois Finance Authority, Refunding RB, Series A, <br> 5.00%, 07/15/42<br>| 20000 | &nbsp;&nbsp; $20229459 |
| Illinois State Toll Highway Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 01/01/44 | 8000 | &nbsp;&nbsp; 8144350 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 01/01/46 | 10470 | &nbsp;&nbsp; 10797255 |
|  |  | &nbsp;&nbsp; 56559316 |
| **Nebraska — 1.2%** | **Nebraska — 1.2%** |  |
| &nbsp;&nbsp;&nbsp; Omaha Public Power District, RB, Series A, 5.00%, <br> 02/01/47<br>| 8975 | &nbsp;&nbsp; 9265802 |
| **New Jersey — 1.1%** | **New Jersey — 1.1%** |  |
| &nbsp;&nbsp;&nbsp; Garden State Preservation Trust, RB, Series A, (AGM), <br> 5.75%, 11/01/28<br>| 8220 | &nbsp;&nbsp; 8713503 |
| **New York — 10.2%** | **New York — 10.2%** |  |
| Empire State Development Corp., Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 03/15/41 | 7790 | &nbsp;&nbsp; 8219220 |
| &nbsp;&nbsp;&nbsp; 5.00%, 03/15/43 | 10000 | &nbsp;&nbsp; 10497577 |
| &nbsp;&nbsp;&nbsp; 5.00%, 03/15/44 | 8280 | &nbsp;&nbsp; 8641587 |
| &nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority Future <br> Tax Secured Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series D-1, 5.25%, 11/01/43 | 12040 | &nbsp;&nbsp; 12833218 |
| &nbsp;&nbsp;&nbsp; Series D-1, 5.50%, 11/01/45 | 5900 | &nbsp;&nbsp; 6356595 |
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority, RB, Series A, <br> 5.00%, 03/15/41<br>| 9795 | &nbsp;&nbsp; 9997195 |
| &nbsp;&nbsp;&nbsp; Triborough Bridge & Tunnel Authority, RB, Series D-2, <br> Senior Lien, Sustainability Bonds, 5.25%, 05/15/47<br>| 9810 | &nbsp;&nbsp; 10306357 |
| &nbsp;&nbsp;&nbsp; Triborough Bridge & Tunnel Authority, Refunding RB, <br> Series B-1, Sustainability Bonds, 5.25%, 05/15/54<br>| 11371 | &nbsp;&nbsp; 11930888 |
|  |  | &nbsp;&nbsp; 78782637 |
| **Ohio — 2.0%** | **Ohio — 2.0%** |  |
| University of Cincinnati, RB, Series A, 5.00%, 06/01/45 | 15025 | &nbsp;&nbsp; 15132531 |
| **Pennsylvania — 1.8%** | **Pennsylvania — 1.8%** |  |
| &nbsp;&nbsp;&nbsp; Pennsylvania Housing Finance Agency, RB, S/F <br> Housing, Series 145A, Sustainability Bonds, 4.75%, <br> 10/01/49<br>| 13550 | &nbsp;&nbsp; 13539495 |
| **Texas — 2.7%** | **Texas — 2.7%** |  |
| &nbsp;&nbsp;&nbsp; City of San Antonio Texas Electric & Gas Systems <br> Revenue, Refunding RB, Series A, 5.25%, 02/01/49<br>| 10330 | &nbsp;&nbsp; 10890690 |
| &nbsp;&nbsp;&nbsp; Dallas Area Rapid Transit, Refunding RB, Series B, <br> Senior Lien, 5.00%, 12/01/47<br>| 9480 | &nbsp;&nbsp; 9732260 |
|  |  | &nbsp;&nbsp; 20622950 |
| **Washington — 5.2%** | **Washington — 5.2%** |  |
| &nbsp;&nbsp;&nbsp; Port of Seattle Washington, ARB, Series A, AMT, <br> 5.00%, 05/01/43<br>| 15500 | &nbsp;&nbsp; 15444438 |
| &nbsp;&nbsp;&nbsp; Port of Seattle Washington, Refunding ARB, AMT, <br> Intermediate Lien, 5.50%, 08/01/47<br>| 10665 | &nbsp;&nbsp; 11035641 |
| State of Washington, GO, Series A-3, 5.00%, 08/01/47 | 13395 | &nbsp;&nbsp; 13813425 |
|  |  | &nbsp;&nbsp; 40293504 |
| **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 39.1%** <br>**(Cost: $300,549,168)** | **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 39.1%** <br>**(Cost: $300,549,168)** | &nbsp;&nbsp; 300527912 |
| **Total Long-Term Investments — 162.5%** <br>**(Cost: $1,239,017,799)** | **Total Long-Term Investments — 162.5%** <br>**(Cost: $1,239,017,799)** | &nbsp;&nbsp; 1250125096 |

---

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

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 2.6%** | **Money Market Funds — 2.6%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, MuniCash, Institutional <br> Shares, 3.05%<sup>(k)(l)</sup><br>| 20425073 | &nbsp;&nbsp; $20427116 |
| **Total Short-Term Securities — 2.6%** <br>**(Cost: $20,426,677)** | **Total Short-Term Securities — 2.6%** <br>**(Cost: $20,426,677)** | &nbsp;&nbsp; 20427116 |
| **Total Investments — 165.1%** <br>**(Cost: $1,259,444,476)** | **Total Investments — 165.1%** <br>**(Cost: $1,259,444,476)** | &nbsp;&nbsp; 1270552212 |
| **Other Assets Less Liabilities — 1.4%** | **Other Assets Less Liabilities — 1.4%** | &nbsp;&nbsp; 10547821 |
| **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (20.2)%** | **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (20.2)%** | &nbsp;&nbsp; (155406547)<br>|
| **VRDP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(46.3)%** | **VRDP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(46.3)%** | &nbsp;&nbsp; (356174706)<br>|
| **Net Assets Applicable to Common Shares — 100.0%** | **Net Assets Applicable to Common Shares — 100.0%** | &nbsp;&nbsp; $769518780 |

---

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

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Zero-coupon bond.

<sup>(d)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step- down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(e)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(f)</sup> Non-income producing security.

<sup>(g)</sup> U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par. 

<sup>(h)</sup> When-issued security.

<sup>(i)</sup> Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing. 

<sup>(j)</sup> All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreement, which expires on December 1, 2032, is $4,953,844. 

<sup>(k)</sup> Affiliate of the Fund.

<sup>(l)</sup> Annualized 7-day yield as of period end.

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniYield Quality Fund III, Inc. (MYI)** 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/31/24*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*04/30/25*<br>| *Shares* <br>*Held at* <br>*04/30/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Liquidity Funds, MuniCash, Institutional Shares | $10785305<br> $9641811 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $422 | $(422)<br>| $20427116 | 20425073 | $338436 | $— |

---

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

<sup>(a)</sup> Represents net amount purchased (sold).

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $949597184 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $949597184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds Transferred to Tender Option Bond Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 300527912 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 300527912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 20427116 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20427116 |
|  | &nbsp;&nbsp; $20427116 | &nbsp;&nbsp;&nbsp;&nbsp; $1250125096 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1270552212 |

---

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the fair value hierarchy as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TOB Trust Certificates | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(154011388)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(154011388)<br>|
| &nbsp;&nbsp;&nbsp; VRDP Shares at Liquidation Value | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (356400000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (356400000)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(510411388)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(510411388)<br>|

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| AGC | Assured Guaranty Corp. |
| AGC-ICC | Assured Guaranty Corp. – Insured Custody Certificate |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation (continued)** | **Portfolio Abbreviation (continued)** |
| AGM | Assured Guaranty Municipal Corp. |
| AGM-CR | AGM Insured Custodial Receipt |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniYield Quality Fund III, Inc. (MYI)** 

---

| | |
|:---|:---|
| **Portfolio Abbreviation (continued)** | **Portfolio Abbreviation (continued)** |
| AMBAC | AMBAC Assurance Corp. |
| AMT | Alternative Minimum Tax |
| ARB | Airport Revenue Bonds  |
| BAM | Build America Mutual Assurance Co. |
| BAM-TCRS | &nbsp;&nbsp;&nbsp; Build America Mutual Assurance Co. - Transferable <br> Custodial Receipts<br>|
| CAB | Capital Appreciation Bonds |
| COP | Certificates of Participation |
| CR | Custodian Receipt |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| GO | General Obligation Bonds |
| GOL | General Obligation Ltd. |
| GTD | GTD Guaranteed |
| M/F | Multi-Family |
| NPFGC | National Public Finance Guarantee Corp. |
| NPFGC-IBC | &nbsp;&nbsp;&nbsp; National Public Finance Guarantee Corp. — Insured Bond <br> Certificate<br>|
| PSF | Permanent School Fund |
| RB | Revenue Bonds |
| S/F | Single-Family |
| SAB | Special Assessment Bonds |
| SAN | State Aid Notes |

---

Schedule of Investments

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock MuniYield Quality Fund III, Inc.

- **b. Investment Company Act file number:** 811-06540

- **c. CIK number of Registrant:** 0000883412

- **d. LEI of Registrant:** UB5J2GS6Q51M6A2L8886

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

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock MuniYield Quality Fund III, Inc.

- **c. LEI of Series:** UB5J2GS6Q51M6A2L8886

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1285271475.93

**Total Liabilities:** $515752696.00

**Net Assets:** $769518779.93

**Cash Not Reported:** $11004828.93

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 267594.32000000 | **1-Year:** 31660.97000000 | **5-Year:** 261945.97000000 | **10-Year:** 309064.56000000 | **30-Year:** 207575.30000000

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

- **3-Month:** 18.98000000 | **1-Year:** 460.47000000 | **5-Year:** 14957.39000000 | **10-Year:** 10540.13000000 | **30-Year:** 65417.74000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.32%                | -3.01%               | -1.85%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-24064.16               | $7404607.72                                |
| Month 2  | $-1819935.22             | $-25718894.36                              |
| Month 3  | $-8248112.11             | $-9702725.98                               |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                          | CUSIP: 650116AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2360000 | PA      | $2330186.36   | 0.30%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                        | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV             | CUSIP: 70868YAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1691818.59   | 0.22%             | 2048-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH MUNI CTFS                                          | CUSIP: 63607WBD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1199163 | PA      | $1138552.61   | 0.15%             | 2041-01-20      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                          | CUSIP: 650116HQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3950000 | PA      | $3982509.65   | 0.52%             | 2060-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Central Valley Energy Authority                                              | CENTRL VLY CA ENERGY AUTH COMMODITY SPLY REVENUE                        | CUSIP: 15569DAA0<br>LEI: 254900G5IPQ9MA3FRJ55 | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1751395.52   | 0.23%             | 2055-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                      | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                               | CUSIP: 8371515T2<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   6455000 | PA      | $6599080.18   | 0.86%             | 2050-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                             | FLORIDA ST DEV FIN CORP SOL WST DISP REVENUE                            | CUSIP: 34061XAB8<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1515134.93   | 0.20%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE                       | CUSIP: 74529JQL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    937000 | PA      | $852205.98    | 0.11%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Seminole Improvement District                                                | SEMINOLE FL IMPT DIST UTILS REVENUE                                     | CUSIP: 816751AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $229083.10    | 0.03%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Midland County Fresh Water Supply District No 1                              | MIDLAND CNTY TX FRESH WTR SPLY DIST #1 REVENUE                          | CUSIP: 597495AZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5810000 | PA      | $3437777.35   | 0.45%             | 2036-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                          | CUSIP: 650116HR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6800000 | PA      | $6848892.14   | 0.89%             | 2060-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Parker Road Community Development District                                   | PARKER ROAD FL CDD CAPITAL IMPT REVENUE                                 | CUSIP: 701123AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $719594.53    | 0.09%             | 2040-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| City of Fort Lauderdale FL Water & Sewer Revenue                             | FORT LAUDERDALE FL WTR & SWR REVENUE                                    | CUSIP: 347658ZX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4315000 | PA      | $4655255.96   | 0.60%             | 2048-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue      | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971X4D7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5900000 | PA      | $6356595.04   | 0.83%             | 2045-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Lafayette LA Utilities Revenue                                       | LAFAYETTE LA UTILITIES REVENUE                                          | CUSIP: 506498F41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1220388.73   | 0.16%             | 2049-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                    | SALT LAKE CITY UT ARPT REVENUE                                          | CUSIP: 795576HM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5780000 | PA      | $5824401.27   | 0.76%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                            | SOUTHEAST ENERGY AUTH COOPERATIVE DIST AL ENERGY SUPPLY REVE            | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   2620000 | PA      | $2683966.04   | 0.35%             | 2056-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                              | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE                | CUSIP: 64972GE42<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   3825000 | PA      | $3625617.13   | 0.47%             | 2046-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                 | NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                              | CUSIP: 64972JMK1<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   8410000 | PA      | $8636677.08   | 1.12%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                              | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE             | CUSIP: 13013JCB0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2900000 | PA      | $3005724.14   | 0.39%             | 2053-07-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                             | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE                         | CUSIP: 74440DEC4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |  11055000 | PA      | $11683537.22  | 1.52%             | 2054-04-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Airport Revenue                                      | PHILADELPHIA PA ARPT REVENUE                                            | CUSIP: 717817UL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6325000 | PA      | $6364461.30   | 0.83%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bucks County Industrial Development Authority                                | BUCKS CNTY PA INDL DEV AUTH HOSP REVENUE                                | CUSIP: 11861MBL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $335181.93    | 0.04%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Klein Independent School District                                            | KLEIN TX INDEP SCH DIST                                                 | CUSIP: 498531UK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4550939.95   | 0.59%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                     | MET PIER & EXPOSITION AUTH IL DEDICATED ST TAX REVENUE                  | CUSIP: 592247K33<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |  20000000 | PA      | $13543043.60  | 1.76%             | 2033-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REVENUE                                     | CUSIP: 6459182D4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   4920000 | PA      | $4921604.31   | 0.64%             | 2043-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue      | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                          | CUSIP: 64971XL48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6355000 | PA      | $5965922.05   | 0.78%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI RETMNT FAC REVENUE                                   | CUSIP: 74444VAR1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    845000 | PA      | $770928.09    | 0.10%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Garland TX Electric Utility System Revenue                           | GARLAND TX ELEC UTILITY SYS REVENUE                                     | CUSIP: 366133TJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $593339.12    | 0.08%             | 2048-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                               | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                 | CUSIP: 64613CCU0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |  10945000 | PA      | $10618302.59  | 1.38%             | 2040-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Oklahoma Turnpike Authority                                                  | OKLAHOMA ST TURNPIKE AUTH                                               | CUSIP: 679111E83<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2139285.58   | 0.28%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                 | MICHIGAN ST HSG DEV AUTH RENTAL HSG REVENUE                             | CUSIP: 59465PEJ3<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   8405000 | PA      | $8549112.72   | 1.11%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                   | ILLINOIS ST FIN AUTH REVENUE                                            | CUSIP: 45204FBF1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1614598.90   | 0.21%             | 2041-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City Of South Miami Health Facilities Authority Inc                          | S MIAMI FL HLTH FACS AUTH                                               | CUSIP: 838810EE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3655000 | PA      | $3560665.51   | 0.46%             | 2047-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                   | MICHIGAN ST FIN AUTH REVENUE                                            | CUSIP: 59447TVD2<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1855000 | PA      | $1652711.14   | 0.21%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                     | MET PIER & EXPOSITION AUTH IL DEDICATED ST TAX REVENUE                  | CUSIP: 592247K58<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |  41880000 | PA      | $27097646.55  | 3.52%             | 2034-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                               | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                                 | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6970000 | PA      | $6000628.57   | 0.78%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                              | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE             | CUSIP: 13013JDD5<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4970000 | PA      | $5349268.90   | 0.70%             | 2054-10-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| South Dakota Housing Development Authority                                   | SOUTH DAKOTA ST HSG DEV AUTH                                            | CUSIP: 83756LBG9<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |   4560000 | PA      | $4464460.29   | 0.58%             | 2049-11-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Black Desert Public Infrastructure District                                  | BLACK DESERT PUB INFRASTRUCTURE DIST UT SPL ASSMNT                      | CUSIP: 09204TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $467144.24    | 0.06%             | 2053-12-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                      | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                             | CUSIP: 594698QS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1877649.24   | 0.24%             | 2038-12-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of Houston TX                                                           | HOUSTON TX                                                              | CUSIP: 442332EE8<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1773552.10   | 0.23%             | 2051-03-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                          | NEW YORK NY                                                             | CUSIP: 64966SMF0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    660000 | PA      | $695901.04    | 0.09%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                    | HOUSTON TX ARPT SYS REVENUE                                             | CUSIP: 442349HX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1342962.01   | 0.17%             | 2037-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                         | COLORADO ST HLTH FACS AUTH REVENUE                                      | CUSIP: 19648FWS9<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2542565.35   | 0.33%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                        | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                              | CUSIP: 70869PHX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13560000 | PA      | $13355021.34  | 1.74%             | 2042-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 15                                 | VILLAGE CDD NO 15 SPL ASSMNT REVENUE                                    | CUSIP: 92708KAE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $720856.38    | 0.09%             | 2054-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Jacksonville FL                                                      | JACKSONVILLE FL SPL REVENUE                                             | CUSIP: 469487MR0<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   3930000 | PA      | $3983612.04   | 0.52%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Tampa FL                                                             | TAMPA FL CAPITAL IMPT CIGARETTE TAX ALLOCATION                          | CUSIP: 875146BB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $738478.92    | 0.10%             | 2045-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| East Point Business & Industrial Development Authority                       | EAST PT GA BUSINESS & INDL DEV AUTHORITY REVENUE                        | CUSIP: 274502AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $425250.00    | 0.06%             | 2062-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                      | HAWAII ST DEPT OF TRANSPRTN ARPTS DIV LEASE REVENUE COPS                | CUSIP: 419808AL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004271.40   | 0.26%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                    | INDIANA FIN AUTH IN WSTWTR UTIL REVENUE                                 | CUSIP: 45505MLT1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2025000 | PA      | $1776088.86   | 0.23%             | 2051-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                             | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                    | CUSIP: 709225ET9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1453500.54   | 0.19%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                        | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                              | CUSIP: 91754TYL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $179328.90    | 0.02%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Urban Development Corp                                        | NEW YORK ST URBAN DEV CORP REVENUE                                      | CUSIP: 650036FT8<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   7790000 | PA      | $8219219.65   | 1.07%             | 2041-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Walnut Valley Unified School District                                        | WALNUT VLY CA UNIF SCH DIST                                             | CUSIP: 932889TV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6545000 | PA      | $3856287.17   | 0.50%             | 2036-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE                       | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    573000 | PA      | $537338.67    | 0.07%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                        | CONNECTICUT ST HSG FIN AUTH HSG MTGE FIN PROGRAM                        | CUSIP: 20775HH48<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   2620000 | PA      | $2802127.31   | 0.36%             | 2054-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue             | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE                   | CUSIP: 93878YCS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1890000 | PA      | $1717971.95   | 0.22%             | 2047-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                          | WASHINGTON ST                                                           | CUSIP: 93974EXY7<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |  13394994 | PA      | $13813424.81  | 1.80%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                          | CUSIP: 650116HL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2945000 | PA      | $2920495.77   | 0.38%             | 2049-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                           | PORT OF SEATTLE WA REVENUE                                              | CUSIP: 735389V96<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   4350000 | PA      | $4316561.55   | 0.56%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                          | NORTH DAKOTA ST HSG FIN AGY                                             | CUSIP: 6589098A7<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   6245000 | PA      | $6145695.19   | 0.80%             | 2049-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                              | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE                | CUSIP: 64972GL85<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1806072.32   | 0.23%             | 2055-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                    | SALT LAKE CITY UT ARPT REVENUE                                          | CUSIP: 795576HG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3475000 | PA      | $3516081.90   | 0.46%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                | MASSACHUSETTS ST                                                        | CUSIP: 57582R4C7<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5149415.20   | 0.67%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI CHRT SCH REVENUE                                     | CUSIP: 744396GT3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    590000 | PA      | $452230.78    | 0.06%             | 2051-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Broward FL Water & Sewer Utility Revenue                           | BROWARD CNTY FL WTR & SWR UTILITY REVENUE                               | CUSIP: 115117NJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4539197.15   | 0.59%             | 2047-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE                       | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1274000 | PA      | $1174085.89   | 0.15%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                        | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE                          | CUSIP: 126292CQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $256929.04    | 0.03%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                          | CALIFORNIA ST                                                           | CUSIP: 13063AEB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10014.51     | 0.00%             | 2030-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Seminole Improvement District                                                | SEMINOLE FL IMPT DIST UTILS REVENUE                                     | CUSIP: 816751AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $255335.94    | 0.03%             | 2037-10-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Aviation Revenue                                     | MIAMI-DADE CNTY FL AVIATION REVENUE                                     | CUSIP: 593340AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7765358.70   | 1.01%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE                       | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1715285.27   | 0.22%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                              | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE             | CUSIP: 13013JFS0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   6125000 | PA      | $6293316.47   | 0.82%             | 2055-11-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Las Vegas NV Special Improvement District No 814                     | LAS VEGAS NV SPL IMPT DIST #814                                         | CUSIP: 51778UAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $818693.08    | 0.11%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan State University                                                    | MICHIGAN ST UNIV REVENUES                                               | CUSIP: 594712VF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10175539.40  | 1.32%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                          | NEW HOPE CULTURAL EDU FACS FINCORP TX EDU REVENUE                       | CUSIP: 64542QBP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1074995.93   | 0.14%             | 2050-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                    | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE                        | CUSIP: 5742187N7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2815000 | PA      | $2437453.41   | 0.32%             | 2050-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                    | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP REVENUE                      | CUSIP: 87638TGV9<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    960000 | PA      | $847882.11    | 0.11%             | 2053-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                             | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                    | CUSIP: 709225KY1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8407440.80   | 1.09%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                        | ILLINOIS ST TOLL HIGHWAY AUTH                                           | CUSIP: 452252NP0<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8144349.96   | 1.06%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue      | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                          | CUSIP: 64971XXW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3325000 | PA      | $3171433.11   | 0.41%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Pasco FL                                                           | PASCO CNTY FL CAPITAL IMPT CIGARETTE TAX ALLOCATION                     | CUSIP: 70252AAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12670000 | PA      | $12906528.25  | 1.68%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hutto Independent School District                                            | HUTTO TX INDEP SCH DIST                                                 | CUSIP: 4484924U9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $310549.53    | 0.04%             | 2048-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Urban Development Corp                                        | NEW YORK ST URBAN DEV CORP REVENUE                                      | CUSIP: 650036FV3<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10497576.90  | 1.36%             | 2043-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                         | SAN DIEGO CA UNIF SCH DIST                                              | CUSIP: 797355Q31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3485000 | PA      | $2817515.55   | 0.37%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Transportation Infrastructure Authority                      | KENTUCKY PUB TRANSPRTN INFRASTRUCTURE AUTH TOLL REVENUE                 | CUSIP: 491397AT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8225000 | PA      | $9391536.62   | 1.22%             | 2039-07-01      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                         | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                            | CUSIP: 167593X64<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1935000 | PA      | $1919949.53   | 0.25%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Hutto TX                                                             | HUTTO TX                                                                | CUSIP: 448474ZR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1506347.00   | 0.20%             | 2049-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Chicago Transit Authority Sales Tax Receipts Fund                            | CHICAGO IL TRANSIT AUTH SALES TAX RECPTS REVENUE                        | CUSIP: 16772PBY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4565000 | PA      | $4598229.91   | 0.60%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                           | PORT OF SEATTLE WA REVENUE                                              | CUSIP: 735389E20<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |  15500000 | PA      | $15444437.62  | 2.01%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF                                               | PENNSYLVANIA ST HSG FIN AGY SF                                          | CUSIP: 70879QWL3<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |  13550000 | PA      | $13539494.69  | 1.76%             | 2049-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                              | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE                | CUSIP: 64972GE59<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   4650000 | PA      | $4362183.69   | 0.57%             | 2047-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| State of Michigan Trunk Line Revenue                                         | MICHIGAN ST TRUNK LINE                                                  | CUSIP: 5946953A4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2284008.40   | 0.30%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                        | MET TRANSPRTN AUTH NY REVENUE                                           | CUSIP: 59261AMB0<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3050000 | PA      | $3058138.10   | 0.40%             | 2057-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Aviation Authority                                       | HILLSBOROUGH CNTY FL AVIATION AUTH                                      | CUSIP: 432308P73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2487567.33   | 0.32%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                  | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                       | CUSIP: 56035DFK3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2445000 | PA      | $2550673.80   | 0.33%             | 2053-09-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                       | PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE                      | CUSIP: 70342PAR5<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   7215000 | PA      | $7621652.91   | 0.99%             | 2054-02-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                            | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                            | CUSIP: 649519EH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7430000 | PA      | $4932845.58   | 0.64%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                           | New York State Dormitory Authority                                      | CUSIP: 64990AHW8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   9794998 | PA      | $9997195.16   | 1.30%             | 2041-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue                       | TRIBOROUGH NY BRIDGE & TUNNEL AUTH SALES TAX REVENUE                    | CUSIP: 896035BZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10090000 | PA      | $9083427.96   | 1.18%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Westside Community Development District                                      | WESTSIDE FL CDD SPL ASSMNT REVENUE                                      | CUSIP: 96149TAQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $577894.73    | 0.08%             | 2037-05-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                        | SAN ANTONIO TX ELEC & GAS REVENUE                                       | CUSIP: 79625GJR5<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |  10329832 | PA      | $10890689.77  | 1.42%             | 2049-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Permanent University Fund - Texas A&M University System                      | TEXAS ST A & M UNIV PERM UNIV FUND                                      | CUSIP: 8821178Q0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2155000 | PA      | $2236931.51   | 0.29%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grossmont Union High School District                                         | GROSSMONT CA UNION HIGH SCH DIST                                        | CUSIP: 399262EG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5110000 | PA      | $4119858.75   | 0.54%             | 2031-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                      | ENERGY S E AL A COOPERATIVE DIST ENERGY SPLY REVENUE                    | CUSIP: 292723AY9<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   3960000 | PA      | $4319082.54   | 0.56%             | 2054-04-01      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                         | MASSACHUSETTS ST HSG FIN AGY                                            | CUSIP: 57586NS44<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1007054.68   | 0.13%             | 2042-12-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                            | DENVER CITY & CNTY CO ARPT REVENUE                                      | CUSIP: 249182TF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5448006.80   | 0.71%             | 2037-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                           | GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE                          | CUSIP: 392274Z82<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   5060000 | PA      | $5165789.72   | 0.67%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                           | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE                  | CUSIP: 837032BZ3<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   4185000 | PA      | $4501962.53   | 0.59%             | 2046-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                    | HOUSTON TX ARPT SYS REVENUE                                             | CUSIP: 4423485T1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1296427.37   | 0.17%             | 2038-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Port Authority of Houston of Harris County Texas                             | PORT HOUSTON TX AUTH                                                    | CUSIP: 734262GV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2195000 | PA      | $2267558.49   | 0.29%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                  | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                       | CUSIP: 56035DGB2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3129073.11   | 0.41%             | 2053-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                             | MARICOPA CNTY AZ INDL DEV AUTH EDU REVENUE                              | CUSIP: 56681NEP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $775090.65    | 0.10%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                      | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                               | CUSIP: 041807BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1210961.17   | 0.16%             | 2062-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Poway Unified School District                                                | POWAY CA UNIF SCH DIST                                                  | CUSIP: 738850RA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7820000 | PA      | $5139018.88   | 0.67%             | 2035-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                          | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                           | CUSIP: 97712JEP4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   5130000 | PA      | $4569471.01   | 0.59%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE                       | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    214000 | PA      | $195543.05    | 0.03%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                            | CUSIP: 646140FX6<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   5265000 | PA      | $5588062.08   | 0.73%             | 2049-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Alabama Special Care Facilities Financing Authority-Birmingham AL            | ALABAMA ST SPL CARE FACS FINGAUTH BIRMINGHAM REVENUE                    | CUSIP: 010399CR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11790000 | PA      | $11806183.90  | 1.53%             | 2046-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rio Hondo Community College District/CA                                      | RIO HONDO CA CMNTY CLG DIST                                             | CUSIP: 767121DJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12940000 | PA      | $7333334.67   | 0.95%             | 2038-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Unified School District                                           | LONG BEACH CA UNIF SCH DIST                                             | CUSIP: 542433NA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3530298.25   | 0.46%             | 2034-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp/VA                                         | TOBACCO SETTLEMENT FING CORP VA                                         | CUSIP: 88880NAU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3030000 | PA      | $2679441.97   | 0.35%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                        | LOUISIANA PUB FACS AUTH REVENUE                                         | CUSIP: 546399RQ1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   4010000 | PA      | $3987742.98   | 0.52%             | 2053-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Westside Community Development District                                      | WESTSIDE FL CDD SPL ASSMNT REVENUE                                      | CUSIP: 96149TAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $563753.30    | 0.07%             | 2038-05-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                       | ARKANSAS ST DEV FIN AUTH INDL DEV REVENUE                               | CUSIP: 04108WCC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4100000 | PA      | $3613091.54   | 0.47%             | 2049-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                 | NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                              | CUSIP: 64972JTG3<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5148616.05   | 0.67%             | 2050-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Omaha Public Power District                                                  | OMAHA NE PUBLIC PWR DIST ELEC REVENUE                                   | CUSIP: 682001HP0<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |   8974996 | PA      | $9265802.39   | 1.20%             | 2047-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                                         | JEFFERSON CNTY AL SWR REVENUE WARRANTS                                  | CUSIP: 472682ZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6955000 | PA      | $6992562.36   | 0.91%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                      | HAWAII ST ARPTS SYS REVENUE                                             | CUSIP: 419794J37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5140000 | PA      | $5233712.69   | 0.68%             | 2051-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nebraska Investment Finance Authority                                        | NEBRASKA ST INVESTMENT FIN AUTH SF HSG REVENUE                          | CUSIP: 63968M7F0<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1777931.49   | 0.23%             | 2049-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                       | Los Angeles Unified School District/CA                                  | CUSIP: 544647GD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9750000 | PA      | $10289807.19  | 1.34%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI CHRT SCH REVENUE                                     | CUSIP: 744396GS5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    895000 | PA      | $746987.34    | 0.10%             | 2041-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA                        | MONTGOMERY CNTY PA INDL DEV AUTH                                        | CUSIP: 61360PCM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $446738.57    | 0.06%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                     | MASSACHUSETTS ST DEV FIN AGY REVENUE                                    | CUSIP: 57584XD57<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   9720000 | PA      | $9229882.80   | 1.20%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                           | GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE                          | CUSIP: 392274X35<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   4310000 | PA      | $4322108.08   | 0.56%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                             | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                    | CUSIP: 709224C98<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2362084.26   | 0.31%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Tampa FL                                                             | TAMPA FL CAPITAL IMPT CIGARETTE TAX ALLOCATION                          | CUSIP: 875146BA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $508038.16    | 0.07%             | 2042-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                         | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                           | CUSIP: 70917TRU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1730159.02   | 0.22%             | 2048-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of El Paso TX Water & Sewer Revenue                                     | EL PASO TX WTR & SWR REVENUE                                            | CUSIP: 283822XD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5590000 | PA      | $5133024.99   | 0.67%             | 2044-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                     | ARIZONA ST INDL DEV AUTH EDU REVENUE                                    | CUSIP: 04052BJX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $715622.75    | 0.09%             | 2039-07-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                    | HOUSTON TX ARPT SYS REVENUE                                             | CUSIP: 442349DG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $689572.33    | 0.09%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE                       | CUSIP: 74529JQM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14927000 | PA      | $14185076.60  | 1.84%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                  | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                           | CUSIP: 592647NF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1453570.15   | 0.19%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Parish of East Baton Rouge Capital Improvements District                     | EAST BATON ROUGE PARISH LA CAPITAL IMPTS DIST MOVEBR SALES T            | CUSIP: 270773BU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2020000 | PA      | $2099746.02   | 0.27%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                               | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE                       | CUSIP: 09182TEN3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  15340000 | PA      | $16129615.76  | 2.10%             | 2055-03-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima/The                   | PIMA CNTY AZ INDL DEV AUTH EDU REVENUE                                  | CUSIP: 72177MSW8<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   1620000 | PA      | $1499946.45   | 0.19%             | 2052-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denver Convention Center Hotel Authority                                     | DENVER CO CONVENTION CENTER HOTEL AUTH REVENUE                          | CUSIP: 249189DS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1556167.22   | 0.20%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                          | CUSIP: 650116CY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3275000 | PA      | $3320754.34   | 0.43%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Henderson KY                                                         | HENDERSON KY EXEMPT FACS REVENUE                                        | CUSIP: 425099AB4<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |    475000 | PA      | $430920.29    | 0.06%             | 2052-01-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                      | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                             | CUSIP: 594698QT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7940000 | PA      | $7939988.49   | 1.03%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sierra Vista Industrial Development Authority                                | SIERRA VISTA AZ INDL DEV AUTH AUTH ED FAC REV                           | CUSIP: 82652UAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2520403.68   | 0.33%             | 2053-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                           | SOUTH CAROLINA ST JOBS-ECON DEV AUTH EDUCTNL FACS REVENUE               | CUSIP: 83704MCH7<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1181096.81   | 0.15%             | 2062-08-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                             | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                    | CUSIP: 709225GH3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1588024.64   | 0.21%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Industrial Development Authority                         | HILLSBOROUGH CNTY FLA INDL DEVAUTH HEALTH SYS REVENUE                   | CUSIP: 43233KAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $749855.81    | 0.10%             | 2049-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue                       | TRIBOROUGH NY BRIDGE & TUNNEL AUTH SALES TAX REVENUE                    | CUSIP: 896035BD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1380974.15   | 0.18%             | 2052-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                           | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE                    | CUSIP: 64990FL85<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1667366.10   | 0.22%             | 2046-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                     | ARIZONA ST INDL DEV AUTH EDU REVENUE                                    | CUSIP: 04052BJZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $799809.85    | 0.10%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                     | CAPITAL TRUST AGY FL REVENUE                                            | CUSIP: 14052WDK0<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1458489.16   | 0.19%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                   | CHICAGO IL BRD OF EDU                                                   | CUSIP: 167505XR2<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1237515.94   | 0.16%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue                   | PENNSYLVANIA ST TURNPIKE COMMISSION OIL FRANCHISE TAX REVENU            | CUSIP: 709221VJ1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5080570.60   | 0.66%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rockwall Independent School District                                         | ROCKWALL TX INDEP SCH DIST                                              | CUSIP: 774286EU8<br>LEI: 5493008ZIVPUZPQOR621 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2238134.38   | 0.29%             | 2049-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                          | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                             | CUSIP: 70879QUM3<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   9205000 | PA      | $9924486.18   | 1.29%             | 2053-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                      | PORT AUTH OF NEW YORK & NEW JERSEY NY                                   | CUSIP: 73358W3K8<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2640943.68   | 0.34%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                      | PORT AUTH OF NEW YORK & NEW JERSEY NY                                   | CUSIP: 73358XCK6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2582580.58   | 0.34%             | 2039-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                             | MINNESOTA ST HSG FIN AGY                                                | CUSIP: 60416TYA0<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2989052.10   | 0.39%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                               | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                 | CUSIP: 646136WG2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $6464185.30   | 0.84%             | 2035-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                             | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                    | CUSIP: 709224QF9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   4740000 | PA      | $4763013.27   | 0.62%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Huntsville Public Building Authority                                         | HUNTSVILLE AL PUBLIC BLDG AUTH LEASE REVENUE                            | CUSIP: 447154FU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5148508.85   | 0.67%             | 2047-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina State Housing Finance & Development Authority                 | SOUTH CAROLINA ST HSG FIN & DEV AUTH MTGE REVENUE                       | CUSIP: 83712D6H4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2340000 | PA      | $2324121.74   | 0.30%             | 2049-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                  | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                       | CUSIP: 56035DFC1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2915000 | PA      | $3034340.83   | 0.39%             | 2053-07-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                             | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE                         | CUSIP: 74440DFC3<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   6320000 | PA      | $6612589.77   | 0.86%             | 2055-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                     | ARIZONA ST INDL DEV AUTH EDU REVENUE                                    | CUSIP: 04052BJP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1090721.81   | 0.14%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                            | TOBACCO SETTLEMENT FING CORP NJ                                         | CUSIP: 888808HQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7310000 | PA      | $7264102.78   | 0.94%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                            | TOBACCO SETTLEMENT FING CORP NJ                                         | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2230761.32   | 0.29%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                             | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                            | CUSIP: 34061ULD8<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    616921 | PA      | $163792.44    | 0.02%             | 2057-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                   | Illinois Finance Authority                                              | CUSIP: 45204EA24<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |  20000000 | PA      | $20229458.60  | 2.63%             | 2042-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                         | COLORADO ST HLTH FACS AUTH REVENUE                                      | CUSIP: 19648FWU4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2824497.28   | 0.37%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue      | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                          | CUSIP: 64971XFT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2585851.48   | 0.34%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Avon Community School Building Corp                                          | AVON IN CMNTY SCH BLDG CORP                                             | CUSIP: 054071PF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1620670.74   | 0.21%             | 2043-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Nashville Airport Authority/The                                 | MET NASHVILLE TN ARPT AUTH ARPT REVENUE                                 | CUSIP: 592190QW5<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1995434.76   | 0.26%             | 2041-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lansing Board of Water & Light                                               | LANSING MICH BRD WTR & LT UTIL SYS REV                                  | CUSIP: 516391DC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2335000 | PA      | $2380982.24   | 0.31%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                       | ARKANSAS DEV FIN AUTH ENVIRONMENTAL REVENUE                             | CUSIP: 04110FAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1438837.13   | 0.19%             | 2053-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| County of Franklin OH                                                        | FRANKLIN CNTY OH REVENUE                                                | CUSIP: 353202FP4<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4510456.56   | 0.59%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                      | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                               | CUSIP: 837151YZ6<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   5575000 | PA      | $5603173.15   | 0.73%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Waller Consolidated Independent School District                              | WALLER TX INDEP SCH DIST                                                | CUSIP: 932493LX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2540000 | PA      | $2292279.85   | 0.30%             | 2048-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                 | MICHIGAN ST HSG DEV AUTH SF MTGE REVENUE                                | CUSIP: 594654SG1<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   4150000 | PA      | $4318018.15   | 0.56%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                            | SOUTHEAST ENERGY AUTH AL COOPERATIVE DIST COMMODITY SPLY REV            | CUSIP: 84136GAK1<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   9000000 | PA      | $9349485.39   | 1.21%             | 2054-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Florida Expressway Authority                                         | CENTRL FL EXPRESSWAY AUTH SR LIEN REVENUE                               | CUSIP: 153476GE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14090000 | PA      | $14212468.38  | 1.85%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                      | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                               | CUSIP: 837151ZW2<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2636734.77   | 0.34%             | 2043-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mount San Antonio Community College District                                 | MOUNT SAN ANTONIO CA CMNTY CLG DIST                                     | CUSIP: 623040FW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3975000 | PA      | $3774611.15   | 0.49%             | 2043-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                            | ILLINOIS ST                                                             | CUSIP: 452153FK0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1691804.66   | 0.22%             | 2043-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Norwalk-La Mirada Unified School District                                    | NORWALK-LA MIRADA CA UNIF SCH DIST                                      | CUSIP: 669096RW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7620000 | PA      | $4286470.37   | 0.56%             | 2038-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Rio Hondo Community College District/CA                                      | RIO HONDO CA CMNTY CLG DIST                                             | CUSIP: 767121DH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $4802753.92   | 0.62%             | 2037-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                          | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                           | CUSIP: 97712JEQ2<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2588708.94   | 0.34%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Aviation Revenue                                     | MIAMI-DADE CNTY FL AVIATION REVENUE                                     | CUSIP: 59333PZ92<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2865000 | PA      | $2866087.67   | 0.37%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE                       | CUSIP: 74529JRP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1261000 | PA      | $1156103.95   | 0.15%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Northwest Independent School District                                        | NORTHWEST TX INDEP SCH DIST                                             | CUSIP: 667826FH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7635000 | PA      | $7841805.35   | 1.02%             | 2049-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clackamas County School District No 12 North Clackamas                       | CLACKAMAS CNTY OR SCH DIST #12 NORTH CLACKAMAS                          | CUSIP: 179093HN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $1476843.31   | 0.19%             | 2038-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue      | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                          | CUSIP: 64971X4F2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5250661.45   | 0.68%             | 2048-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Garden State Preservation Trust                                              | Garden State Preservation Trust                                         | CUSIP: 365418BX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8220000 | PA      | $8713503.54   | 1.13%             | 2028-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                          | IDAHO ST HSG & FIN ASSN SALES TAX REVENUE                               | CUSIP: 45130ABT1<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   7250000 | PA      | $7652702.70   | 0.99%             | 2048-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of El Paso TX Water & Sewer Revenue                                     | EL PASO TX WTR & SWR REVENUE                                            | CUSIP: 283822YB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3410000 | PA      | $3566995.75   | 0.46%             | 2049-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                           | PHILADELPHIA PA WTR & WSTWTR REVENUE                                    | CUSIP: 7178933W9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2395000 | PA      | $2507534.06   | 0.33%             | 2049-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REVENUE                                     | CUSIP: 64577BJX3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    445000 | PA      | $445972.28    | 0.06%             | 2033-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Texas City Industrial Development Corp                                       | TEXAS CITY TX INDL DEV CORP INDL REVENUE                                | CUSIP: 882275AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $710842.07    | 0.09%             | 2045-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH MF AFFORDABLE HSG                                  | CUSIP: 63610CAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1552029.09   | 0.20%             | 2042-04-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                           | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE                  | CUSIP: 837032CB5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2995000 | PA      | $3217064.42   | 0.42%             | 2048-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                    | SALT LAKE CITY UT ARPT REVENUE                                          | CUSIP: 795576FX0<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000808.33   | 0.13%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Urban Development Corp                                        | New York State Urban Development Corp                                   | CUSIP: 650036FW1<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   8280000 | PA      | $8641586.69   | 1.12%             | 2044-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                  | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                       | CUSIP: 56035DEN8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   4195000 | PA      | $4332232.38   | 0.56%             | 2053-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                                    | BlackRock Liquidity Funds: MuniCash, Institutional Shares               | CUSIP: 09248U841<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   9421349 | NS      | $9422290.80   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp V                              | TEXAS ST MUNI GAS ACQUISITION & SPLY CORP V GAS SPLY REVENUE            | CUSIP: 88256RAK2<br>LEI: 254900XZ4J30QIJO9G03 | Long             | DBT              | MUN               | US        |   5560000 | PA      | $5808433.64   | 0.75%             | 2055-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                         | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX                 | CUSIP: 89602HHH3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |  11371573 | PA      | $11930887.85  | 1.55%             | 2054-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Tampa FL                                                             | City of Tampa FL                                                        | CUSIP: 87515ECB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10500000 | PA      | $10509718.80  | 1.37%             | 2046-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                          | NORTH DAKOTA ST HSG FIN AGY                                             | CUSIP: 6589096Q4<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   3030000 | PA      | $2953468.17   | 0.38%             | 2049-07-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Metropolitan Nashville Airport Authority/The                                 | MET NASHVILLE TN ARPT AUTH ARPT REVENUE                                 | CUSIP: 592190QX3<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2120713.20   | 0.28%             | 2042-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Tampa FL                                                             | TAMPA FL CAPITAL IMPT CIGARETTE TAX ALLOCATION                          | CUSIP: 875146AY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2290000 | PA      | $1132431.66   | 0.15%             | 2040-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                          | NEW YORK NY                                                             | CUSIP: 64966QL24<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2671121.60   | 0.35%             | 2042-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                               | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                 | CUSIP: 64613CEG9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5825000 | PA      | $5932118.43   | 0.77%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REVENUE                                     | CUSIP: 64577BJY1<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    570000 | PA      | $571085.58    | 0.07%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                     | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                               | CUSIP: 14054CDA4<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1138097.23   | 0.15%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE                       | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8715000 | PA      | $2793878.84   | 0.36%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                           | Port of Seattle WA                                                      | CUSIP: 735389W38<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |  10665000 | PA      | $11035640.54  | 1.43%             | 2047-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Galveston Independent School District                                        | GALVESTON TX INDEP SCH DIST                                             | CUSIP: 364496QQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8075000 | PA      | $7338771.08   | 0.95%             | 2047-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas State Technical College                                                | TEXAS ST TECH CLG SYS FING SYS REVENUE                                  | CUSIP: 88276RFJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3335000 | PA      | $3610679.20   | 0.47%             | 2042-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                    | SALT LAKE CITY UT ARPT REVENUE                                          | CUSIP: 795576HK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3490000 | PA      | $3492227.84   | 0.45%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue      | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971X4C9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12040000 | PA      | $12833217.84  | 1.67%             | 2043-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                               | NEW JERSEY ST TRANSPRTN TRUST FND AUTH                                  | CUSIP: 646135Z97<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4010939.32   | 0.52%             | 2025-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                   | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                               | CUSIP: 5444453D9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3485000 | PA      | $3643263.15   | 0.47%             | 2055-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI CHRT SCH REVENUE                                     | CUSIP: 744396GR7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    270000 | PA      | $243315.03    | 0.03%             | 2031-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                        | ILLINOIS ST TOLL HIGHWAY AUTH                                           | CUSIP: 452252PX1<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |  10470000 | PA      | $10797254.61  | 1.40%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                          | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE                   | CUSIP: 51265KFJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $730095.72    | 0.09%             | 2054-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                         | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                            | CUSIP: 167593WQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8285000 | PA      | $8400712.04   | 1.09%             | 2042-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Harris TX                                                          | HARRIS CNTY TX                                                          | CUSIP: 414005Y85<br>LEI: 549300G9BRP25M0W1S40 | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1233892.14   | 0.16%             | 2048-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH                                             | CUSIP: 6459165J2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1791795.91   | 0.23%             | 2028-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM                                                          | SANTA FE NM RETMNT FAC REVENUE                                          | CUSIP: 802170AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $404362.12    | 0.05%             | 2044-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                         | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REAL ESTATE TRANSFER TAX             | CUSIP: 896032AZ2<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   5125000 | PA      | $5403555.33   | 0.70%             | 2048-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                          | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                             | CUSIP: 70879QN74<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9955713.70   | 1.29%             | 2050-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| South Dakota Housing Development Authority                                   | SOUTH DAKOTA ST HSG DEV AUTH                                            | CUSIP: 83756LBR5<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |   3410000 | PA      | $3350067.95   | 0.44%             | 2050-05-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL Department of Electric Utilities                         | LAKELAND FL ENERGY SYS REVENUE                                          | CUSIP: 51166FGT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4704303.00   | 0.61%             | 2048-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Viera Stewardship District                                                   | VIERA STEWARDSHIP DIST FL SPL ASSMNT REVENUE                            | CUSIP: 92670TAG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $763602.76    | 0.10%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Kindred Community Development District II                                    | KINDRED FL CDD II SPL ASSMNT REVENUE                                    | CUSIP: 494581AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504318.01    | 0.07%             | 2054-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Dallas Area Rapid Transit                                                    | Dallas Area Rapid Transit                                               | CUSIP: 235241WQ5<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |   9480000 | PA      | $9732260.90   | 1.26%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 14                                 | VLG FL CDD #14 SPL ASSMNT REVENUE                                       | CUSIP: 92708JAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1688459.75   | 0.22%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Houston TX                                                           | HOUSTON TX                                                              | CUSIP: 442332ED0<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   4715000 | PA      | $4949985.23   | 0.64%             | 2049-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                            | TOBACCO SETTLEMENT FING CORP NJ                                         | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $547369.78    | 0.07%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tahoe-Douglas Visitors Authority                                             | TAHOE-DOUGLAS VISITORS AUTH NV STATELINE REVENUE                        | CUSIP: 873816AT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1578328.68   | 0.21%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lansing Board of Water & Light                                               | LANSING MICH BRD WTR & LT UTIL SYS REV                                  | CUSIP: 516391EP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1637777.95   | 0.21%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue      | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                          | CUSIP: 64971XL30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $7532033.68   | 0.98%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                  | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                       | CUSIP: 56035DBV3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1112538.29   | 0.14%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Las Vegas NV Special Improvement District No 814                     | LAS VEGAS NV SPL IMPT DIST #814                                         | CUSIP: 51778UAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $324791.05    | 0.04%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nebraska Investment Finance Authority                                        | NEBRASKA ST INVESTMENT FIN AUTH SF HSG REVENUE                          | CUSIP: 63968M7G8<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |   5835000 | PA      | $5661612.27   | 0.74%             | 2049-09-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REV                                         | CUSIP: 64577XAC0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     55000 | PA      | $55121.27     | 0.01%             | 2040-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV                | CUSIP: 79766DMA4<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |  14215000 | PA      | $14117043.01  | 1.83%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Enterprise Development Authority                                  | CALIFORNIA ST ENTERPRISE DEV AUTH REVENUE                               | CUSIP: 13067RCZ4<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1217696.76   | 0.16%             | 2062-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                         | Triborough Bridge & Tunnel Authority                                    | CUSIP: 89602HEN3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   9810000 | PA      | $10306356.57  | 1.34%             | 2047-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REVENUE                                     | CUSIP: 6459182A0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1930303.47   | 0.25%             | 2034-01-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority Home Ownership Revenue    | WISCONSIN ST HSG & ECON DEV AUTH HOME OWNERSHIP REVENUE                 | CUSIP: 97689QSN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1091597.19   | 0.14%             | 2043-09-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department                                      | MIAMI-DADE CNTY FL SEAPORT REVENUE                                      | CUSIP: 59335KFB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5980000 | PA      | $6059122.10   | 0.79%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Columbus Regional Airport Authority                                          | COLUMBUS OH REGL ARPT AUTH REVENUE                                      | CUSIP: 199546DD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20000000 | PA      | $20775994.80  | 2.70%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                   | CHICAGO IL BRD OF EDU                                                   | CUSIP: 167505XX9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1291640.53   | 0.17%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                     | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                               | CUSIP: 14054CFG9<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    500000 | PA      | $414404.26    | 0.05%             | 2057-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                           | ALLEGHENY CNTY PA ARPT AUTH ARPT REVENUE                                | CUSIP: 01728LHD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $814949.99    | 0.11%             | 2048-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Houston TX                                                           | HOUSTON TX                                                              | CUSIP: 442332DF6<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |    695000 | PA      | $742413.53    | 0.10%             | 2042-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago Transit Authority Sales Tax Receipts Fund                            | CHICAGO IL TRANSIT AUTH SALES TAX RECPTS REVENUE                        | CUSIP: 16772PDK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10128824.60  | 1.32%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                        | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE                    | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   3900000 | PA      | $3750994.14   | 0.49%             | 2065-01-01      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| Val Verde Unified School District                                            | VAL VERDE CA UNIF SCH DIST                                              | CUSIP: 91882RKZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3830000 | PA      | $3471170.40   | 0.45%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                     | ARIZONA ST INDL DEV AUTH EDU REVENUE                                    | CUSIP: 04052BJN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1460231.65   | 0.19%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                       | ILLINOIS ST HSG DEV AUTH REVENUE                                        | CUSIP: 45203MUH2<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2817325.22   | 0.37%             | 2054-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| County of Pasco FL                                                           | PASCO CNTY FL CAPITAL IMPT CIGARETTE TAX ALLOCATION                     | CUSIP: 70252AAX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1486340.03   | 0.19%             | 2054-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                       | Los Angeles Unified School District/CA                                  | CUSIP: 914119F98<br>LEI: 549300E0RD3ICJ858L23 | Long             | DBT              | MUN               | US        |  15024994 | PA      | $15132530.97  | 1.97%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                          | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1611253.32   | 0.21%             | 2040-04-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Harris County Flood Control District                                         | HARRIS CNTY TX FLOOD CONTROL DIST                                       | CUSIP: 414019CP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2233423.63   | 0.29%             | 2048-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                      | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                               | CUSIP: 041807CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1363959.23   | 0.18%             | 2062-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| East Central Regional Wastewater Treatment Facilities Operation Board        | EAST CENT REGL WASTEWATER     TREATMENT FACS OPERATION BRD              | CUSIP: 27149TBG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13925000 | PA      | $14098833.02  | 1.83%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Poway Unified School District                                                | POWAY CA UNIF SCH DIST                                                  | CUSIP: 738850RB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $6368985.40   | 0.83%             | 2036-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Port of Portland OR Airport Revenue                                          | PORT OF PORTLAND OR ARPT REVENUE                                        | CUSIP: 7352403J0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4800000 | PA      | $5013329.57   | 0.65%             | 2048-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                            | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                            | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3055000 | PA      | $3036017.42   | 0.39%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                     | MET PIER & EXPOSITION AUTH IL DEDICATED ST TAX REVENUE                  | CUSIP: 592248BB3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   9430000 | PA      | $3677413.33   | 0.48%             | 2044-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department                                      | MIAMI-DADE CNTY FL SEAPORT REVENUE                                      | CUSIP: 59335KDL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $2940022.44   | 0.38%             | 2050-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                      | HAWAII ST DEPT OF TRANSPRTN ARPTS DIV LEASE REVENUE COPS                | CUSIP: 419808AM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1776331.20   | 0.23%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Alabama Gas Supply District/The                                    | S E ALABAMA ST GAS SPLY DIST GAS SPLY REVENUE                           | CUSIP: 84131TBT8<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |   6575000 | PA      | $6830879.80   | 0.89%             | 2049-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                          | State of California                                                     | CUSIP: 13063DNK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10500000 | PA      | $10799996.45  | 1.40%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of Houston of Harris County Texas                             | PORT HOUSTON TX AUTH                                                    | CUSIP: 734262FX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $929072.89    | 0.12%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                               | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                 | CUSIP: 646136TG6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   8550000 | PA      | $8383522.52   | 1.09%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REVENUE                                     | CUSIP: 64577BKB9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2635000 | PA      | $2640018.62   | 0.34%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                    | SALT LAKE CITY UT ARPT REVENUE                                          | CUSIP: 795576HL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3140000 | PA      | $3100014.77   | 0.40%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Transit Authority Sales Tax Receipts Fund                            | CHICAGO IL TRANSIT AUTH SALES TAX RECPTS REVENUE                        | CUSIP: 16772PEP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7155000 | PA      | $7259428.54   | 0.94%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

**Name of Applicant:** BlackRock MuniYield Quality Fund III, Inc.

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer