# EDGAR Filing Document

**Accession Number:** 0000203142
**File Stem:** 0001410368-26-028958
**Filing Date:** 2026-3
**Character Count:** 95358
**Document Hash:** 79062d184fb77eb51ebf891f41980541
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-028958.hdr.sgml**: 20260323

**ACCESSION NUMBER**: 0001410368-26-028958

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260323

**DATE AS OF CHANGE**: 20260323

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEUTSCHE DWS MUNICIPAL TRUST
- **CENTRAL INDEX KEY:** 0000203142

**ORGANIZATION NAME:**
- **EIN:** 046396607
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02671
- **FILM NUMBER:** 26782723

**BUSINESS ADDRESS:**
- **STREET 1:** 875 THIRD AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022-6225
- **BUSINESS PHONE:** 212-454-4500

**MAIL ADDRESS:**
- **STREET 1:** 875 THIRD AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022-6225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DEUTSCHE MUNICIPAL TRUST
- **DATE OF NAME CHANGE:** 20140811

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DWS MUNICIPAL TRUST
- **DATE OF NAME CHANGE:** 20060207

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SCUDDER MUNICIPAL TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### DWS Short-Term Municipal Bond Fund (Series ID: S000031144)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000096616 | Class A             | SRMAX           |
| C000096618 | Class C             | SRMCX           |
| C000096619 | Class S             | SRMSX           |
| C000096620 | Institutional Class | MGSMX           |

## Nport-Ex

Investment Portfolio**as of January 31, 2026 (Unaudited)** 

**DWS Short-Term Municipal Bond Fund** 

---

| | | |
|:---|:---|:---|
|  | **Principal** <br>**Amount ($)**<br>| **Value ($)** |
| **Municipal Investments 105.2%** | **Municipal Investments 105.2%** |  |
| **Alabama 5.3%** | **Alabama 5.3%** |  |
| Alabama, Black Belt Energy Gas District Gas Project Revenue: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D-1, 4.0%, Mandatory Put 6/1/2027 @ 100, 7/1/2052, GTY: Royal Bank of <br> Canada, LIQ: Royal Bank of Canada <br>| 665000 | &nbsp;&nbsp; 673553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B-1, 4.0%, Mandatory Put 10/1/2027 @ 100, 4/1/2053, GTY: Goldman Sachs <br> Group, Inc. <br>| 2885000 | &nbsp;&nbsp; 2929348 |
| Alabama, State Highway Authority Revenue, 5.0%, 9/1/2028, INS: AG  | 550000 | &nbsp;&nbsp; 588178 |
| Jefferson County, AL, Sewer Revenue, 5.0%, 10/1/2026  | 1500000 | &nbsp;&nbsp; 1524106 |
| &nbsp;&nbsp;&nbsp; Southeast Alabama, Energy Authority A Cooperative District, Series B-1, 5.0%, <br> Mandatory Put 8/1/2028 @ 100, 5/1/2053, GTY: Goldman Sachs Group, Inc. <br>| 1365000 | &nbsp;&nbsp; 1421716 |
|  |  | &nbsp;&nbsp; **7136901** |
| **Alaska 2.5%** | **Alaska 2.5%** |  |
| Alaska, General Obligation, Series A, 5.0%, 8/1/2027  | 1000000 | &nbsp;&nbsp; 1040618 |
| &nbsp;&nbsp;&nbsp; Alaska, State Borough of Matanuska-Susitna AK Revenue, Department of <br> Administration, Series B, 5.0%, 9/1/2032 <br>| 2000000 | &nbsp;&nbsp; 2278197 |
|  |  | &nbsp;&nbsp; **3318815** |
| **Arizona 1.6%** | **Arizona 1.6%** |  |
| &nbsp;&nbsp;&nbsp; Arizona, Industrial Development Authority, Hospital Revenue Bonds, Phoenix Children <br> Hospital, Series A, 5.0%, 2/1/2027 <br>| 200000 | &nbsp;&nbsp; 204836 |
| &nbsp;&nbsp;&nbsp; Arizona, Industrial Development Authority, Revenue Bonds, TWG Glendale LP, 5.0%, <br> Mandatory Put 9/1/2026 @ 100, 3/1/2045 <br>| 550000 | &nbsp;&nbsp; 553089 |
| &nbsp;&nbsp;&nbsp; Coconino County, AZ, Pollution Control Corp. Revenue, Nevada Power Co., Series A, <br> AMT, 4.125%, Mandatory Put 3/31/2026 @ 100, 9/1/2032 <br>| 250000 | &nbsp;&nbsp; 250383 |
| &nbsp;&nbsp;&nbsp; Maricopa County, AZ, Industrial Development Authority, Revenue Bonds, HonorHealth <br> Obligated Group, Series D, 5.0%, 12/1/2027 <br>| 1150000 | &nbsp;&nbsp; 1200993 |
|  |  | &nbsp;&nbsp; **2209301** |
| **California 6.6%** | **California 6.6%** |  |
| &nbsp;&nbsp;&nbsp; California, Los Angeles Department of Water & Power Power System Revenue, Series E, <br> 5.0%, 7/1/2029 <br>| 1455000 | &nbsp;&nbsp; 1584001 |
| &nbsp;&nbsp;&nbsp; California, Municipal Finance Authority Revenue, PRS-California Obligated Group, <br> Series B-2, 5.5%, 4/1/2029 <br>| 2000000 | &nbsp;&nbsp; 2000358 |
| California, Municipal Finance Authority, Aldersly Project, Series B-1, 4.0%, 11/15/2028  | 590000 | &nbsp;&nbsp; 592064 |
| &nbsp;&nbsp;&nbsp; California, State Housing Finance Agency, Multi Family Housing Revene Bonds, <br> Series V, 5.0%, Mandatory Put 11/1/2026 @ 100, 5/1/2054 <br>| 300000 | &nbsp;&nbsp; 303647 |
| &nbsp;&nbsp;&nbsp; California, State Infrastructure & Economic Development Bank Revenue, 1.75%, <br> Mandatory Put 8/1/2026 @ 100, 8/1/2055 <br>| 1100000 | &nbsp;&nbsp; 1090581 |
| &nbsp;&nbsp;&nbsp; California, State Municipal Finance Authority Revenue, LAX Integrated Express <br> Solutions LLC, APM Project, Series A, AMT, 5.0%, 6/30/2026 <br>| 500000 | &nbsp;&nbsp; 503636 |
| California, University Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series AL-1, 2.8% (a), 2/2/2026  | 800000 | &nbsp;&nbsp; 800000 |
| &nbsp;&nbsp;&nbsp; Series B-3, 3.125%, Mandatory Put 11/1/2026 @ 100, 11/1/2051  | 1000000 | &nbsp;&nbsp; 1000940 |
| &nbsp;&nbsp;&nbsp; San Jose City, CA, Multi Family Housing Revenue, Allied 1510 Parkmoor LP, <br> Series F-2, 5.0%, Mandatory Put 6/1/2026 @ 100, 6/1/2027 <br>| 1000000 | &nbsp;&nbsp; 1007405 |
|  |  | &nbsp;&nbsp; **8882632** |

---

------

---

| | | |
|:---|:---|:---|
| **Colorado 1.4%** | **Colorado 1.4%** |  |
| &nbsp;&nbsp;&nbsp; Colorado, Housing and Finance Authority Revenue Bonds, "I", Series C-2, 3.125%, <br> 10/1/2027 <br>| 1830000 | &nbsp;&nbsp; **1846233** |
| **Connecticut 0.8%** | **Connecticut 0.8%** |  |
| &nbsp;&nbsp;&nbsp; Connecticut, State Health & Educational Facilities Authority, Yale University, <br> Series A-3, 2.95%, Mandatory Put 7/1/2027 @ 100, 7/1/2049 <br>| 1000000 | &nbsp;&nbsp; 1008465 |
| &nbsp;&nbsp;&nbsp; Connecticut, State Housing Finance Authority, Housing Finance Mortgage Program, <br> Series C-1, 4.0%, 11/15/2047 <br>| 50000 | &nbsp;&nbsp; 50182 |
| &nbsp;&nbsp;&nbsp; Connecticut, State Housing Finance Program Authority Revenue, Series A-1, 4.0%, <br> 11/15/2047 <br>| 45000 | &nbsp;&nbsp; 45152 |
|  |  | &nbsp;&nbsp; **1103799** |
| **District of Columbia 0.7%** | **District of Columbia 0.7%** |  |
| &nbsp;&nbsp;&nbsp; District of Columbia, Housing Finance Agency, ECD Edgewood Commons 5 LP, 5.0%, <br> Mandatory Put 6/1/2026 @ 100, 6/1/2027 <br>| 1000000 | &nbsp;&nbsp; **1001078** |
| **Florida 4.1%** | **Florida 4.1%** |  |
| &nbsp;&nbsp;&nbsp; Florida, Capital Projects Finance Authority, Student Housing Revenue, Capital Project <br> Loan Program, Series A-1, 5.0%, 10/1/2026 <br>| 500000 | &nbsp;&nbsp; 505882 |
| &nbsp;&nbsp;&nbsp; Florida, Development Finance Corp., AAF Operations Holdings LLC, 144A, AMT, <br> 14.0% (b), Mandatory Put 7/15/2028 @ 109, 7/15/2032 <br>| 500000 | &nbsp;&nbsp; 180000 |
| &nbsp;&nbsp;&nbsp; Florida, Village Community Development District No. 15, Special Assessment Revenue, <br> 144A, 3.75%, 5/1/2029 <br>| 500000 | &nbsp;&nbsp; 504838 |
| &nbsp;&nbsp;&nbsp; Highlands County, FL, Health Facilities Authority Revenue, AdventHealth Obligated <br> Group, Series D, 3.15% (a), 2/2/2026, SPA: PNC Bank NA <br>| 500000 | &nbsp;&nbsp; 500000 |
| &nbsp;&nbsp;&nbsp; Miami-Dade County, FL, Housing Finance Authority, Rainbow Village Project, Series B, <br> 3.55%, Mandatory Put 3/1/2028 @ 100, 3/1/2029 <br>| 250000 | &nbsp;&nbsp; 254203 |
| &nbsp;&nbsp;&nbsp; Miami-Dade County, FL, School Board of Miami-Dade County, Certificates of <br> Participation, Series A, 5.0%, 5/1/2029 <br>| 1235000 | &nbsp;&nbsp; 1334941 |
| Miami-Dade County, FL, Water & Sewer System Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series B, 5.0%, 10/1/2027  | 500000 | &nbsp;&nbsp; 522019 |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 10/1/2028  | 800000 | &nbsp;&nbsp; 856855 |
| &nbsp;&nbsp;&nbsp; Venice City, FL, Southwest Florida Retirement Center, Inc. Obligated Group, Series B-3, <br> 144A, 4.25%, 1/1/2030 <br>| 900000 | &nbsp;&nbsp; 902509 |
|  |  | &nbsp;&nbsp; **5561247** |
| **Georgia 2.8%** | **Georgia 2.8%** |  |
| &nbsp;&nbsp;&nbsp; Burke County, GA, Development Authority, Pollution Control Revenue, Oglethorpe <br> Power Corp., Series E, 3.6%, Mandatory Put 2/1/2030 @ 100, 11/1/2045 <br>| 750000 | &nbsp;&nbsp; 771705 |
| &nbsp;&nbsp;&nbsp; Georgia, Geo L Smith II Congress Center Authority, Convention Center Hotel First Tier <br> Revenue, Series A, 2.375%, 1/1/2031 <br>| 750000 | &nbsp;&nbsp; 711380 |
| &nbsp;&nbsp;&nbsp; Georgia, Main Street Natural Gas, Inc., Gas Supply Revenue, Series C, 4.0%, <br> Mandatory Put 9/1/2026 @ 100, 3/1/2050, GTY: Citigroup Global Markets <br>| 2000000 | &nbsp;&nbsp; 2011604 |
| &nbsp;&nbsp;&nbsp; Monroe County, GA, Development Authority, Pollution Control Revenue, Georgia Power <br> Co. Plant Scherer Project, Series 2, 3.875%, Mandatory Put 3/6/2026 @ 100, <br> 10/1/2048 <br>| 250000 | &nbsp;&nbsp; 250251 |
|  |  | &nbsp;&nbsp; **3744940** |
| **Illinois 2.9%** | **Illinois 2.9%** |  |
| Chicago, Midway International Airport Revenue, Series A, AMT, 5.0%, 1/1/2028  | 675000 | &nbsp;&nbsp; 704214 |
| Chicago, O'Hare International Airport Revenue, Series D, 5.0%, 1/1/2028  | 400000 | &nbsp;&nbsp; 419377 |
| Illinois, General Obligation, Series D, 5.0%, 11/1/2026  | 2000000 | &nbsp;&nbsp; 2036561 |
| &nbsp;&nbsp;&nbsp; Illinois, State Finance Authority Revenue, Water Revolving Fund - Clean Water <br> Program, Series C, 5.0%, 7/1/2030 <br>| 640000 | &nbsp;&nbsp; 711934 |
|  |  | &nbsp;&nbsp; **3872086** |

---

------

---

| | | |
|:---|:---|:---|
| **Indiana 1.5%** | **Indiana 1.5%** |  |
| &nbsp;&nbsp;&nbsp; Indiana, Finance Authority Revenue, Ascension Health Credit Group, Series A-1, 5.0%, <br> 11/15/2028 <br>| 350000 | &nbsp;&nbsp; 373840 |
| &nbsp;&nbsp;&nbsp; Indiana, Finance Authority Revenue, Deaconess Health System, Series B, SIFMA <br> Municipal Swap Index + 0.3%, 2.58% (c), Mandatory Put 3/1/2027 @ 100, 3/1/2039 <br>| 640000 | &nbsp;&nbsp; 637501 |
| Indiana, Local Public Improvement Bond Bank Revenue, Series D, 5.0%, 1/15/2028  | 1000000 | &nbsp;&nbsp; 1050397 |
|  |  | &nbsp;&nbsp; **2061738** |
| **Kentucky 3.0%** | **Kentucky 3.0%** |  |
| &nbsp;&nbsp;&nbsp; Boone County, KY, Pollution Control Revenue, Duke Energy Kentucky, Inc., Project, <br> Series A, 3.7%, 8/1/2027 <br>| 750000 | &nbsp;&nbsp; 757126 |
| &nbsp;&nbsp;&nbsp; Kentucky, Higher Education Student Loan Corp. Revenue, Taxable Asset Back Notes, <br> "A1A", Series 2021-1, 1.65%, 3/25/2051 <br>| 460683 | &nbsp;&nbsp; 437825 |
| &nbsp;&nbsp;&nbsp; Louisville & Jefferson County, KY, Metropolitan Government Control Revenue, <br> Louisville Gas & Celectric Co., Series B, AMT, 1.35%, 11/1/2027 <br>| 3000000 | &nbsp;&nbsp; 2898844 |
|  |  | &nbsp;&nbsp; **4093795** |
| **Louisiana 1.5%** | **Louisiana 1.5%** |  |
| &nbsp;&nbsp;&nbsp; Louisiana, Parish of St. John The Baptist LA, Series A-1, 4.05%, Mandatory Put <br> 7/1/2026 @ 100, 6/1/2037, GTY: ConocoPhillips <br>| 2000000 | &nbsp;&nbsp; **2009820** |
| **Maryland 0.8%** | **Maryland 0.8%** |  |
| &nbsp;&nbsp;&nbsp; Maryland, State Health & Higher Educational Facilities Authority Revenue, University <br> of Maryland Medical System Obligated Group, Series 2025B, 5.0%, Mandatory Put <br> 7/1/2031 @ 100, 7/1/2045 <br>| 1000000 | &nbsp;&nbsp; **1094977** |
| **Massachusetts 2.4%** | **Massachusetts 2.4%** |  |
| &nbsp;&nbsp;&nbsp; Massachusetts, State Development Finance Agency Revenue, Mass General Brigham, <br> Inc., Series H, 5.0%, 7/1/2029 (d)<br>| 1800000 | &nbsp;&nbsp; 1938006 |
| &nbsp;&nbsp;&nbsp; Massachusetts, State Development Finance Agency, GingerCare Living, Inc. Obligated <br> Group, Series B-3, 144A, 4.75%, 12/1/2029 <br>| 1000000 | &nbsp;&nbsp; 1000317 |
| &nbsp;&nbsp;&nbsp; Massachusetts, State Health & Educational Facilities Authority Revenue, Mass General <br> Brigham, Inc., Series F-3, 1.75% (a), 2/6/2026, LOC: TD Bank NA <br>| 250000 | &nbsp;&nbsp; 250000 |
|  |  | &nbsp;&nbsp; **3188323** |
| **Michigan 7.1%** | **Michigan 7.1%** |  |
| &nbsp;&nbsp;&nbsp; Michigan, Great Lakes Water Authority, Sewage Disposal System Revenue, Series A, <br> 5.0%, 7/1/2027 <br>| 2250000 | &nbsp;&nbsp; 2334727 |
| &nbsp;&nbsp;&nbsp; Michigan, State Finance Authority Revenue, Beaumont-Spectrum, Series C, SIFMA <br> Municipal Swap Index + 0.75%, 3.03% (c), Mandatory Put 4/15/2027 @ 100, <br> 4/15/2047 <br>| 1750000 | &nbsp;&nbsp; 1746023 |
| &nbsp;&nbsp;&nbsp; Michigan, State Finance Authority Revenue, Hospital McLaren Health Care Corp., <br> Series D-2, 1.2%, Mandatory Put 4/13/2028 @ 100, 10/15/2038 <br>| 1250000 | &nbsp;&nbsp; 1193477 |
| &nbsp;&nbsp;&nbsp; Michigan, State Finance Authority, Trinity Health Corp. Obligated Group, Series A, <br> 5.0%, 12/1/2026 <br>| 2000000 | &nbsp;&nbsp; 2043556 |
| &nbsp;&nbsp;&nbsp; Michigan, State Hospital Finance Authority Revenue, Corewell Health Obligated Group, <br> Series B, 5.0%, Mandatory Put 6/1/2032 @ 100, 8/15/2055 <br>| 1000000 | &nbsp;&nbsp; 1115913 |
| &nbsp;&nbsp;&nbsp; Michigan, State Housing Development Authority Revenue, Clark Road Family Ltd. <br> Dividend Housing Association LP, 4.5%, Mandatory Put 4/1/2026 @ 100, 12/1/2042 <br>| 1150000 | &nbsp;&nbsp; 1153197 |
|  |  | &nbsp;&nbsp; **9586893** |
| **Mississippi 0.4%** | **Mississippi 0.4%** |  |
| &nbsp;&nbsp;&nbsp; Lowndes County, MS, Solid Waste Disposal And Pollution Control Refunding Revenue <br> Bonds, International Company Project, 2.65%, Mandatory Put 4/1/2027 @ 100, <br> 4/1/2037, GTY: International Paper Co. <br>| 500000 | &nbsp;&nbsp; **500162** |

---

------

---

| | | |
|:---|:---|:---|
| **Missouri 0.8%** | **Missouri 0.8%** |  |
| &nbsp;&nbsp;&nbsp; Missouri, Higher Education Loan Authority Revenue, Taxable Student Loan Asset Back <br> Notes, "A1A", Series 2021-1, 1.53%, 1/25/2061 <br>| 830202 | &nbsp;&nbsp; 764807 |
| &nbsp;&nbsp;&nbsp; Missouri, State Health & Educational Facilities Authority Revenue, CoxHealth <br> Obligated Group, Series A, 5.0%, 11/15/2032 <br>| 250000 | &nbsp;&nbsp; 281447 |
|  |  | &nbsp;&nbsp; **1046254** |
| **Nebraska 0.8%** | **Nebraska 0.8%** |  |
| &nbsp;&nbsp;&nbsp; Nebraska, Central Plains Energy Project Revenue, Series A-1, 5.0%, Mandatory Put <br> 8/1/2031 @ 100, 8/1/2055, GTY: Royal Bank of Canada <br>| 1000000 | &nbsp;&nbsp; **1074742** |
| **New Hampshire 0.3%** | **New Hampshire 0.3%** |  |
| &nbsp;&nbsp;&nbsp; New Hampshire, State Health and Education Facilities Authority Act Revenue, Trustees <br> of Dartmouth College, Series A, 3.3%, Mandatory Put 8/3/2027 @ 100, 6/1/2040 <br>| 405000 | &nbsp;&nbsp; **407513** |
| **New Jersey 2.9%** | **New Jersey 2.9%** |  |
| &nbsp;&nbsp;&nbsp; Camden County, NJ, Multi Family Housing Revenue, Northgate I Apartments Project, <br> 5.0%, Mandatory Put 3/1/2026 @ 100, 3/1/2027 <br>| 1000000 | &nbsp;&nbsp; 1001781 |
| New Jersey, State Economic Development Authority, Series SSS, 5.0%, 6/15/2026  | 1500000 | &nbsp;&nbsp; 1515173 |
| &nbsp;&nbsp;&nbsp; New Jersey, State Economic Development Authority, Motor Vehicle Surcharge Revenue, <br> Series A, 3.125%, 7/1/2029 <br>| 195000 | &nbsp;&nbsp; 195140 |
| New Jersey, State Turnpike Authority Revenue, Series C, 5.0%, 1/1/2031  | 1000000 | &nbsp;&nbsp; 1122404 |
|  |  | &nbsp;&nbsp; **3834498** |
| **New Mexico 0.2%** | **New Mexico 0.2%** |  |
| &nbsp;&nbsp;&nbsp; New Mexico, Mortgage Finance Authority, Single Family Mortgage, "I", Series A-1, <br> 4.0%, 1/1/2049 <br>| 215000 | &nbsp;&nbsp; **217233** |
| **New York 11.4%** | **New York 11.4%** |  |
| New York, Port Authority of New York & New Jersey Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series 242, AMT, 5.0%, 12/1/2026  | 1000000 | &nbsp;&nbsp; 1019282 |
| &nbsp;&nbsp;&nbsp; Series 249, AMT, 5.0%, 10/15/2032  | 1250000 | &nbsp;&nbsp; 1406270 |
| New York, State Dormitory Authority Revenue, Series A, 5.0%, 10/1/2027, INS: AG  | 750000 | &nbsp;&nbsp; 785039 |
| &nbsp;&nbsp;&nbsp; New York, State Dormitory Authority Revenue, Northwell Health Obligated Group, <br> Series A, 5.0%, 5/1/2027 <br>| 1000000 | &nbsp;&nbsp; 1030998 |
| &nbsp;&nbsp;&nbsp; New York, State Dormitory Authority Revenue, NYU Langone Hospitals Obligated <br> Group, Series A, 5.0%, 7/1/2028 <br>| 500000 | &nbsp;&nbsp; 531286 |
| &nbsp;&nbsp;&nbsp; New York, State Housing Finance Agency Revenue, Series B-2, 3.6%, Mandatory Put <br> 5/1/2029 @ 100, 11/1/2064 <br>| 1000000 | &nbsp;&nbsp; 1009536 |
| &nbsp;&nbsp;&nbsp; New York, Triborough Bridge & Tunnel Authority, Payroll Mobility Tax Revenue, <br> Series A-2, 5.0%, 2/1/2029 (d)<br>| 2000000 | &nbsp;&nbsp; 2156196 |
| New York City, NY, General Obligation, Series A, 5.0%, 8/1/2027  | 1000000 | &nbsp;&nbsp; 1040467 |
| &nbsp;&nbsp;&nbsp; New York City, NY, Transitional Finance Authority Building Aid Revenue, Series S-2, <br> 5.0%, 7/15/2032 <br>| 1250000 | &nbsp;&nbsp; 1452264 |
| New York City, NY, Transitional Finance Authority Revenue, Future Tax Secured: |  |  |
| &nbsp;&nbsp;&nbsp; Series B-5, 3.25% (a), 2/2/2026, SPA: U.S. Bank NA  | 2000000 | &nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp; Series C-4, 3.25% (a), 2/2/2026, SPA: JP Morgan Chase Bank NA  | 500000 | &nbsp;&nbsp; 500000 |
| &nbsp;&nbsp;&nbsp; Series D-1, 5.0%, 11/1/2028  | 1000000 | &nbsp;&nbsp; 1071866 |
| Oyster Bay, NY, Public Improvement Refunding Bonds, 4.0%, 11/1/2027, INS: BAM  | 315000 | &nbsp;&nbsp; 325564 |
| Troy, NY, Capital Resource Corp. Revenue, Rensselaer Polytechnic Institute: |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 9/1/2027  | 500000 | &nbsp;&nbsp; 517855 |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 9/1/2028  | 500000 | &nbsp;&nbsp; 528126 |
|  |  | &nbsp;&nbsp; **15374749** |
| **North Carolina 3.7%** | **North Carolina 3.7%** |  |
| North Carolina, General Obligation, Series A, 5.0%, 6/1/2028 (d) | 2000000 | &nbsp;&nbsp; 2120875 |

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; North Carolina, Housing Authority Revenue, BRAD Avenue Flats LLC, 2.95%, <br> Mandatory Put 5/1/2028 @ 100, 5/1/2044 <br>| 2000000 | &nbsp;&nbsp; 2006609 |
| North Carolina, Revenue, Series B, 5.0%, 5/1/2028  | 750000 | &nbsp;&nbsp; 795931 |
| &nbsp;&nbsp;&nbsp; North Carolina, State Housing Finance Agency, Home Ownership Revenue, Series 38-B, <br> 4.0%, 7/1/2047 <br>| 65000 | &nbsp;&nbsp; 65249 |
|  |  | &nbsp;&nbsp; **4988664** |
| **North Dakota 0.1%** | **North Dakota 0.1%** |  |
| &nbsp;&nbsp;&nbsp; North Dakota, State Housing Finance Agency, Home Mortgage Housing Finance <br> Program, Series A, 4.0%, 7/1/2047 <br>| 150000 | &nbsp;&nbsp; **150272** |
| **Ohio 0.9%** | **Ohio 0.9%** |  |
| Hamilton County, OH, Sewer System Revenue, Series B, 5.0%, 12/1/2027  | 1125000 | &nbsp;&nbsp; **1179634** |
| **Oklahoma 2.3%** | **Oklahoma 2.3%** |  |
| &nbsp;&nbsp;&nbsp; Oklahoma, State Industries Authority Revenue, Oklahoma City Public Schools Project, <br> 5.0%, 4/1/2029 <br>| 2500000 | &nbsp;&nbsp; 2698159 |
| Oklahoma, State Turnpike Authority Revenue, Series B, 5.0%, 1/1/2032  | 400000 | &nbsp;&nbsp; 454402 |
|  |  | &nbsp;&nbsp; **3152561** |
| **Oregon 0.8%** | **Oregon 0.8%** |  |
| &nbsp;&nbsp;&nbsp; Oregon, State Facilities Authority Revenue, Peacehealth Systems, Series B, 3.2% (a), <br> 2/2/2026, LOC: TD Bank NA <br>| 1100000 | &nbsp;&nbsp; **1100000** |
| **Pennsylvania 6.8%** | **Pennsylvania 6.8%** |  |
| &nbsp;&nbsp;&nbsp; Dauphin County, PA, General Authority, OPMC Obligated Group, Series A, 5.0%, <br> 6/1/2026 <br>| 650000 | &nbsp;&nbsp; 654511 |
| Luzerne County, PA, General Obligation, Series A, 5.0%, 12/15/2026, INS: AG  | 1000000 | &nbsp;&nbsp; 1022192 |
| &nbsp;&nbsp;&nbsp; Pennsylvania, Commonwealth Financing Authority, Tobacco Master Settlement Payment <br> Revenue Bonds, 5.0%, 6/1/2026 <br>| 2000000 | &nbsp;&nbsp; 2017477 |
| &nbsp;&nbsp;&nbsp; Pennsylvania, State Economic Development Financing Authority Revenue, UPMC <br> Obligated Group, Series 2025-A, 5.0%, Mandatory Put 3/15/2032 @ 100, 3/15/2060 <br>| 1500000 | &nbsp;&nbsp; 1642318 |
| &nbsp;&nbsp;&nbsp; Pennsylvania, State Economic Development Financing Authority Revenue, Waste <br> Management Inc., Series A-2, 4.6%, Mandatory Put 10/1/2026 @ 100, 10/1/2046, <br> GTY: Waste Management Holdings <br>| 2000000 | &nbsp;&nbsp; 2010824 |
| Pennsylvania, State Housing Finance Agency, Single Family Mortgage Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series 119, AMT, 3.5%, 10/1/2041  | 85000 | &nbsp;&nbsp; 85001 |
| &nbsp;&nbsp;&nbsp; Series 122, AMT, 4.0%, 10/1/2046  | 780000 | &nbsp;&nbsp; 780634 |
| &nbsp;&nbsp;&nbsp; Pittsburgh & Allegheny Counties, PA, Sports & Exhibition Authority Revenue, Series B, <br> 5.0%, 2/1/2029, INS: AG <br>| 875000 | &nbsp;&nbsp; 934863 |
|  |  | &nbsp;&nbsp; **9147820** |
| **South Carolina 1.1%** | **South Carolina 1.1%** |  |
| &nbsp;&nbsp;&nbsp; South Carolina, State Jobs-Economic Development Authority Revenue, Bon Secours <br> Mercy Health, Inc., Series B-2, 5.0%, Mandatory Put 11/1/2032 @ 100, 11/1/2049 <br>| 500000 | &nbsp;&nbsp; 560188 |
| &nbsp;&nbsp;&nbsp; South Carolina, State Jobs-Economic Development Authority Revenue, International <br> Paper Co., Series A, AMT, 4.0%, Mandatory Put 4/1/2026 @ 100, 4/1/2033, <br> GTY: International Paper Co. <br>| 850000 | &nbsp;&nbsp; 851018 |
|  |  | &nbsp;&nbsp; **1411206** |
| **South Dakota 0.1%** | **South Dakota 0.1%** |  |
| &nbsp;&nbsp;&nbsp; South Dakota, Housing Development Authority, Homeownership Mortgage, Series B, <br> 4.0%, 11/1/2047 <br>| 175000 | &nbsp;&nbsp; **175431** |
| **Texas 16.6%** | **Texas 16.6%** |  |
| Austin City, TX, General Obligation, 5.0%, 11/1/2032  | 1500000 | &nbsp;&nbsp; 1742228 |
| Dallas City, TX, General Obligation, Series B, 5.0%, 2/15/2027  | 2500000 | &nbsp;&nbsp; 2570540 |

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Fort Bend, TX, Independent School District Variable Rate, Unlimited Tax Building and <br> Refunding Bonds, Series B, 4.0%, Mandatory Put 8/1/2027 @ 100, 8/1/2054 <br>| 2500000 | &nbsp;&nbsp; 2553048 |
| &nbsp;&nbsp;&nbsp; Harris County, TX, Cultural Education Facilities Finance Corp. Revenue, Baylor College <br> of Medicine Obligated Group, Series A, 5.0%, Mandatory Put 5/15/2032 @ 100, <br> 11/15/2054 <br>| 1500000 | &nbsp;&nbsp; 1650501 |
| Harris County, TX, Toll Road Revenue, Series A, 5.0%, 8/15/2027  | 1500000 | &nbsp;&nbsp; 1562938 |
| Houston, TX, Airport System Revenue, Series A, AMT, 5.0%, 7/1/2026, INS: AG  | 865000 | &nbsp;&nbsp; 873880 |
| &nbsp;&nbsp;&nbsp; Houston, TX, Airport System Revenue, United Airlines, Inc., Series B, AMT, 5.25%, <br> 7/15/2027 <br>| 500000 | &nbsp;&nbsp; 510641 |
| &nbsp;&nbsp;&nbsp; Houston, TX, Hotel Occupancy Tax And Special Revenue, Convention and <br> Entertainment Facilities Department, 5.0%, 9/1/2026 <br>| 1735000 | &nbsp;&nbsp; 1761420 |
| &nbsp;&nbsp;&nbsp; New Hope, TX, Cultural Education Facilities Finance Corp. Revenue, Bella Vida <br> Forefront Living Obligated Group, Series 2025-B3, 4.25%, 10/1/2030 <br>| 1000000 | &nbsp;&nbsp; 1000553 |
| San Antonio City, TX, Electric & Gas Systems Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 2.9%, Mandatory Put 12/1/2027 @ 100, 2/1/2055 (d) | 1000000 | &nbsp;&nbsp; 1000767 |
| &nbsp;&nbsp;&nbsp; Series A, 3.08%, Mandatory Put 12/1/2028 @ 100, 2/1/2055  | 900000 | &nbsp;&nbsp; 908280 |
| &nbsp;&nbsp;&nbsp; Tarrant County, TX, Cultural Education Facilities Finance Corp. Revenue, Baylor Scott <br> & White Health Obligated Group, Series E, 5.0%, 11/15/2028 (d)<br>| 500000 | &nbsp;&nbsp; 534596 |
| &nbsp;&nbsp;&nbsp; Texas, Dallas Fort Worth International Airport Revenue, Series A-2, AMT, 5.0%, <br> Mandatory Put 11/1/2032 @ 100, 11/1/2050 <br>| 1250000 | &nbsp;&nbsp; 1381653 |
| &nbsp;&nbsp;&nbsp; Texas, Dallas Independent School District, General Obligation, Series A-4, 5.0%, <br> Mandatory Put 2/15/2029 @ 100, 2/15/2055 <br>| 1000000 | &nbsp;&nbsp; 1071669 |
| &nbsp;&nbsp;&nbsp; Texas, Denton Independent School District, General Obligation, Series B2, 4.0%, <br> Mandatory Put 8/15/2030 @ 100, 8/15/2055 <br>| 700000 | &nbsp;&nbsp; 745631 |
| &nbsp;&nbsp;&nbsp; Texas, State Municipal Gas Acquisition & Supply Corp., III Gas Supply Revenue, 5.0%, <br> 12/15/2029, GTY: Macquarie Group Ltd. <br>| 500000 | &nbsp;&nbsp; 533842 |
| Texas, University of Texas Revenue, Financing System, Series A, 5.0%, 8/15/2028  | 1750000 | &nbsp;&nbsp; 1870328 |
|  |  | &nbsp;&nbsp; **22272515** |
| **Utah 1.2%** | **Utah 1.2%** |  |
| Salt Lake City, UT, Airport Revenue, Series A, AMT, 5.0%, 7/1/2026  | 500000 | &nbsp;&nbsp; 505029 |
| Utah, State Housing Corp. Revenue, Series C, 6.5%, 7/1/2055  | 985000 | &nbsp;&nbsp; 1134579 |
|  |  | &nbsp;&nbsp; **1639608** |
| **Virginia 3.4%** | **Virginia 3.4%** |  |
| &nbsp;&nbsp;&nbsp; Halifax County, VA, Industrial Development Authority Revenue, Virginia Electric and <br> Power Co., Series A, 3.8%, Mandatory Put 5/28/2027 @ 100, 12/1/2041 <br>| 3125000 | &nbsp;&nbsp; 3174671 |
| &nbsp;&nbsp;&nbsp; Virginia, Small Business Financing Authority Revenue Bond, Series B-1, 4.1%, <br> 12/1/2030 <br>| 370000 | &nbsp;&nbsp; 384964 |
| &nbsp;&nbsp;&nbsp; Virginia, Small Business Financing Authority Revenue, Elizabeth River Crossings <br> OpCo., LLC Project, AMT, 4.0%, 7/1/2029 <br>| 1000000 | &nbsp;&nbsp; 1025169 |
|  |  | &nbsp;&nbsp; **4584804** |
| **Washington 1.2%** | **Washington 1.2%** |  |
| &nbsp;&nbsp;&nbsp; Seattle, WA, Seattle Municipal Light & Power Revenue, Series B, SIFMA Municipal <br> Swap Index + 0.25%, 2.53% (c), Mandatory Put 11/1/2026 @ 100, 5/1/2045 <br>| 355000 | &nbsp;&nbsp; 353512 |
| &nbsp;&nbsp;&nbsp; Washington, Energy Northwest Revenue, Bonneville Power Administration, Series B, <br> 5.0%, 7/1/2027 <br>| 500000 | &nbsp;&nbsp; 519539 |
| &nbsp;&nbsp;&nbsp; Washington, Klickitat County Public Utility District No 1, Revenue Bonds, 5.0%, <br> 12/1/2026, INS: AG <br>| 785000 | &nbsp;&nbsp; 800789 |
|  |  | &nbsp;&nbsp; **1673840** |
| **West Virginia 0.8%** | **West Virginia 0.8%** |  |
| &nbsp;&nbsp;&nbsp; West Virginia, Economic Development Authority Revenue, Commercial Metals Co., <br> AMT, 4.625%, Mandatory Put 5/15/2032 @ 100, 4/15/2055 <br>| 1000000 | &nbsp;&nbsp; **1023330** |
| **Wisconsin 4.4%** | **Wisconsin 4.4%** |  |
| &nbsp;&nbsp;&nbsp; Wisconsin, Public Finance Authority Revenue, Tax-Exempt Pooled Securities, "A", <br> Series 2024-2, 4.0%, Mandatory Put 8/1/2027 @ 100, 8/1/2059 <br>| 1624796 | &nbsp;&nbsp; 1634031 |

---

------

---

| | | |
|:---|:---|:---|
| Wisconsin, State General Obligation, Series 2025-2, 5.0%, 5/1/2027  | 2000000 | &nbsp;&nbsp; 2069261 |
| &nbsp;&nbsp;&nbsp; Wisconsin, State Health & Educational Facilities Authority Revenue, Mercy Health Corp <br> Obligated Group, Series A, 5.0%, 12/1/2028 (d)<br>| 2000000 | &nbsp;&nbsp; 2121692 |
| &nbsp;&nbsp;&nbsp; Wisconsin, State Housing & Economic Development Authority, Home Ownership <br> Revenue, Series A, AMT, 3.5%, 3/1/2046 <br>| 60000 | &nbsp;&nbsp; 60044 |
|  |  | &nbsp;&nbsp; **5885028** |
| **Total Municipal Investments** (Cost $140,850,464) | **Total Municipal Investments** (Cost $140,850,464) | &nbsp;&nbsp; **141552442** |
| **Government & Agency Obligations 0.6%** | **Government & Agency Obligations 0.6%** |  |
| **U.S. Treasury Obligations**  | **U.S. Treasury Obligations**  |  |
| U.S. Treasury Notes, 3.625%, 12/31/2030 (Cost $892,429) | 900000 | &nbsp;&nbsp; **892898** |

---

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value ($)** |
| **Open-End Investment Companies 1.2%** | **Open-End Investment Companies 1.2%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares, 2.37% (e) <br> (Cost $1,568,131)<br>| 1567975 | &nbsp;&nbsp; **1568131** |

---

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

---

| | | |
|:---|:---|:---|
|  | **% of Net**<br> **Assets**<br>| **Value ($)** |
| **Total Investment Portfolio** (Cost $143,311,024) | 107.0 | &nbsp;&nbsp; **144013471** |
| **Other Assets and Liabilities, Net**  | (7.0)<br>| &nbsp;&nbsp; **(9440440)**<br>|
| **Net Assets** | 100.0 | &nbsp;&nbsp; **134573031** |

---

*For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* *Variable rate demand notes are securities whose interest rates are reset periodically (usually daily mode or weekly mode) by* *remarketing agents based on current market levels, and are not directly set as a fixed spread to a reference rate. These securities* *may be redeemed at par by the holder through a put or tender feature, and are shown at their current rates as of January 31,* *2026. Date shown reflects the earlier of demand date or stated maturity date.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* *Interest coupon payment as of July 15, 2025 has been deferred by the issuer.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* *Variable or floating rate security. These securities are shown at their current rate as of January 31, 2026. For securities based on* *a published reference rate and spread, the reference rate and spread are indicated within the description above. Certain variable* *rate securities are not based on a published reference rate and spread but adjust periodically based on current market conditions,* *prepayment of underlying positions and/or other variables. Securities with a floor or ceiling feature are disclosed at the inherent* *rate, where applicable.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* *When-issued security.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(e)* *Current yield; not a coupon rate.* 

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

---

| |
|:---|
| *144A: Security exempt from registration under Rule 144A under the Securities Act of 1933. These securities may be resold in* <br> *transactions exempt from registration, normally to qualified institutional buyers.*<br>|
| *AG: Assured Guaranty, Inc.* |
| *AMT: Subject to alternative minimum tax.* |
| *BAM: Build America Mutual* |
| *GTY: Guaranty Agreement* |
| *INS: Insured* |
| *LIQ: Liquidity Facility* |
| *LOC: Letter of Credit* |
| *SIFMA: Securities Industry and Financial Markets Association* |
| *SPA: Standby Bond Purchase Agreement* |

---

------

***Fair Value Measurements***

*Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.*

*The following is a summary of the inputs used as of January 31, 2026 in valuing the Fund's investments.* 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Municipal Investments (a) | $— | &nbsp;&nbsp; $141552442 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $141552442 |
| Government & Agency Obligations  |  | &nbsp;&nbsp; 892898 | &nbsp;&nbsp; — | &nbsp;&nbsp; 892898 |
| Open-End Investment Companies  | 1568131 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1568131 |
| **Total** | **$1568131** | &nbsp;&nbsp; **$142445340** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$144013471** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* *See Investment Portfolio for additional detailed categorizations.* 

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas Inc. and RREEF America L.L.C. which offer advisory services.

DSTMBF-PH1

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** DEUTSCHE DWS MUNICIPAL TRUST

- **b. Investment Company Act file number:** 811-02671

- **c. CIK number of Registrant:** 0000203142

- **d. LEI of Registrant:** PXMELE24BHVOU00K5462

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

  - **Street Address 1:** 875 Third Avenue

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10022-6225

  - **Telephone number:** 212-454-4500

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

- **a. Name of Series:** DWS Short-Term Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000031144

- **c. LEI of Series:** HQI7L66EK0KEA7WU8D48

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**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:** $146620161.22

**Total Liabilities:** $11973409.54

**Net Assets:** $134646751.68

**Delayed Delivery Securities:** $9829913.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -937.81000000 | **1-Year:** -10992.38000000 | **5-Year:** -13445.15000000 | **10-Year:** -5128.38000000 | **30-Year:** -1557.48000000

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

- **3-Month:** -65.35000000 | **1-Year:** -292.18000000 | **5-Year:** -620.67000000 | **10-Year:** -133.82000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000096616 | 0.13%                | 0.33%                | 0.62%                |
| Class ID C000096618 | 0.07%                | 0.27%                | 0.56%                |
| Class ID C000096619 | 0.15%                | 0.35%                | 0.64%                |
| Class ID C000096620 | 0.15%                | 0.25%                | 0.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-23948.60               | $-96216.97                                 |
| Month 2  | $509.70                  | $77711.95                                  |
| Month 3  | $-2897.78                | $512656.76                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alabama Highway Authority                                                 | ALABAMA ST HIGHWAY AUTH SPL OBLIG REVENUE                          | CUSIP: 010559AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $588177.81    | 0.44%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Alaska                                                           | ALASKA ST                                                          | CUSIP: 0117706C3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040617.80   | 0.77%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                  | ARIZONA INDL DEV AUTH HOSP REVENUE                                 | CUSIP: 04052EAH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $204835.62    | 0.15%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                  | ARIZONA ST INDL DEV AUTH MF HSG REVENUE                            | CUSIP: 04062PCA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $553088.91    | 0.41%             | 2045-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX                                                         | AUSTIN TX                                                          | CUSIP: 0523974M5<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1742228.55   | 1.29%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares        | BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | STIV             | RF                | US        |    725459 | NS      | $725531.19    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares        | BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | STIV             | RF                | US        |   1263632 | NS      | $1263758.43   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Belt Energy Gas District                                            | BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE                     | CUSIP: 09182NCB4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    665000 | PA      | $673553.30    | 0.50%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                            | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE                  | CUSIP: 09182TBC0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2885000 | PA      | $2929348.22   | 2.18%             | 2053-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Boone KY                                                        | BOONE CNTY KY POLL CONTROL REVENUE                                 | CUSIP: 098792AQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $757125.98    | 0.56%             | 2027-08-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Development Authority of Burke County/The                                 | BURKE CNTY GA DEV AUTH POLL CONTROL REVENUE                        | CUSIP: 121342PN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $771705.23    | 0.57%             | 2045-11-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                     | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE               | CUSIP: 13034AD23<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1090581.47   | 0.81%             | 2055-08-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                         | CALIFORNIA HSG FIN AGY LTD OBLIG MF HSG REVENUE                    | CUSIP: 13034DAC8<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |    300000 | PA      | $303646.92    | 0.23%             | 2054-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                    | CALIFORNIA ST MUNI FIN AUTH REVENUE                                | CUSIP: 13048V2W7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000357.80   | 1.49%             | 2029-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                    | CALIFORNIA ST MUNI FIN AUTH REVENUE                                | CUSIP: 13048VBF4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503636.35    | 0.37%             | 2026-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                    | CALIFORNIA ST MUNI FIN AUTH REVENUE                                | CUSIP: 13048VL71<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    590000 | PA      | $592063.64    | 0.44%             | 2028-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California State University                                               | CALIFORNIA ST UNIV REVENUE                                         | CUSIP: 13077DSZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000939.60   | 0.74%             | 2051-11-01      | Variable      | 3.12%                 | No            |                  2 | On Loan: No      |
| Camden County Improvement Authority/The                                   | CAMDEN CNTY NJ IMPT AUTH MF REVENUE                                | CUSIP: 13281RAF0<br>LEI: 549300UTQBT9ZE0QFB15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001781.40   | 0.74%             | 2027-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority/FL                                     | CAPITAL PROJS FL FIN AUTH STUDENT HSG REVENUE                      | CUSIP: 140427BG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505882.45    | 0.38%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Plains Energy Project                                             | CENTRL PLAINS ENERGY PROJ NE GAS SPLY REVENUE                      | CUSIP: 154872AY1<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074742.10   | 0.80%             | 2055-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                      | CHICAGO IL MIDWAY ARPT REVENUE                                     | CUSIP: 167562UM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $704214.41    | 0.52%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                      | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                       | CUSIP: 167591BP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $419377.32    | 0.31%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Coconino County Pollution Control Corp                                    | COCONINO CNTY AZ POLL CONTROLCORP                                  | CUSIP: 191855BN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250383.40    | 0.19%             | 2032-09-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Colorado Housing and Finance Authority                                    | COLORADO ST HSG & FIN AUTH                                         | CUSIP: 19648GPB2<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1846233.20   | 1.37%             | 2027-10-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                          | CMWLTH FING AUTH PA TOBACCO MASTER SETTLEMENT PAYMENT REV          | CUSIP: 20282EAG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2017477.00   | 1.50%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                     | CONNECTICUT ST HSG FIN AUTH HSG MTGE FIN PROGRAM                   | CUSIP: 20775CQB3<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |     45000 | PA      | $45152.64     | 0.03%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                     | CONNECTICUT ST HSG FIN AUTH HSG MTGE FIN PROGRAM                   | CUSIP: 20775CTX2<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50181.72     | 0.04%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority               | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REVENUE                    | CUSIP: 20775DXK3<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008464.70   | 0.75%             | 2049-07-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                   | DALLAS-FORT WORTH TX INTERNATIONAL ARPT REVENUE                    | CUSIP: 23503CFL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1381652.63   | 1.03%             | 2050-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Dallas TX                                                         | DALLAS TX                                                          | CUSIP: 235219XE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2570540.00   | 1.91%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Independent School District                                        | DALLAS TX INDEP SCH DIST                                           | CUSIP: 235308Q63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071668.90   | 0.80%             | 2055-02-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Dauphin County General Authority                                          | DAUPHIN CNTY PA GEN AUTH HLTHSYS REVENUE                           | CUSIP: 23825EDN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $654510.81    | 0.49%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denton Independent School District                                        | DENTON TX INDEP SCH DIST                                           | CUSIP: 249002NL6<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |    700000 | PA      | $745631.53    | 0.55%             | 2055-08-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                               | DIST OF COLUMBIA HSG FIN AGY MF HSG REVENUE                        | CUSIP: 25477PPY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001077.50   | 0.74%             | 2027-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Northwest                                                          | ENERGY N W WA ELEC REVENUE                                         | CUSIP: 29270C6C4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $519538.80    | 0.39%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                          | FLORIDA ST DEV FIN CORP                                            | CUSIP: 340618DK0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $180000.00    | 0.13%             | 2032-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fort Bend Independent School District                                     | FORT BEND TX INDEP SCH DIST                                        | CUSIP: 346843VT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2553047.75   | 1.90%             | 2054-08-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| George L Smith II Congress Center Authority                               | GEO L SMITH II GA CONGRESS CTR AUTH                                | CUSIP: 37255MAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $711380.18    | 0.53%             | 2031-01-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority Sewage Disposal System Revenue                | GREAT LAKES MI WTR AUTH SEWAGE DISPOSAL SYS REVENUE                | CUSIP: 39081HFK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2334726.68   | 1.73%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Halifax County Industrial Development Authority                           | HALIFAX CNTY VA INDL DEV AUTH REVENUE                              | CUSIP: 40579PAE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3125000 | PA      | $3174670.63   | 2.36%             | 2041-12-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| County of Hamilton OH Sewer System Revenue                                | HAMILTON CNTY OH SWR SYS REVENUE                                   | CUSIP: 407288H44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1179633.49   | 0.88%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp                  | HARRIS CNTY TX CULTURAL EDU FACS FIN CORP MED FACS REVENUE         | CUSIP: 414008CZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1650500.55   | 1.23%             | 2054-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Harris TX Toll Road Revenue                                     | HARRIS CNTY TX TOLL ROAD REVENUE                                   | CUSIP: 41423PDE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1562938.35   | 1.16%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Highlands County Health Facilities Authority                              | HIGHLANDS CNTY FL HLTH FACS AUTH                                   | CUSIP: 431022UP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.37%             | 2060-11-15      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                 | HOUSTON TX ARPT SYS REVENUE                                        | CUSIP: 442349GB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $873879.66    | 0.65%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                 | HOUSTON TX ARPT SYS REVENUE                                        | CUSIP: 442349JY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510640.60    | 0.38%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Hotel Occupancy Tax & Special Revenue                  | HOUSTON TX HOTEL OCCUPANCY TAX & SPL REVENUE                       | CUSIP: 44237NKT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1761420.41   | 1.31%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                | ILLINOIS ST FIN AUTH REVENUE                                       | CUSIP: 45204FG90<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    640000 | PA      | $711933.70    | 0.53%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                         | ILLINOIS ST                                                        | CUSIP: 452152Q61<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2036560.60   | 1.51%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                 | INDIANA ST FIN AUTH REVENUE                                        | CUSIP: 45506EDH3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    640000 | PA      | $637501.25    | 0.47%             | 2039-03-01      | Floating      | 2.58%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                 | INDIANA ST FIN AUTH REVENUE                                        | CUSIP: 45506EQE6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    350000 | PA      | $373839.66    | 0.28%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                           | INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK                        | CUSIP: 45528VHC6<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050397.50   | 0.78%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                                      | JEFFERSON CNTY AL SWR REVENUE WARRANTS                             | CUSIP: 472682YV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1524105.45   | 1.13%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Higher Education Student Loan Corp                               | KENTUCKY ST HGR EDU STUDENT LOAN CORP                              | CUSIP: 49130NFB0<br>LEI: N/A                  | Long             |  | MUN               | US        |    460683 | PA      | $437824.49    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Klickitat County Public Utility District No 1                             | KLICKITAT CNTY WA PUBLIC UTILITY DIST #1                           | CUSIP: 498622LE7<br>LEI: 549300D4CB0RTDWA5V46 | Long             | DBT              | MUN               | US        |    785000 | PA      | $800788.86    | 0.59%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                   | LOS ANGELES CA DEPT OF WTR & PWR REVENUE                           | CUSIP: 544532NM2<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1584001.17   | 1.18%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisville/Jefferson County Metropolitan Government                       | LOUISVILLE & JEFFERSON CNTY KY MET GOVT POLL CONTROL REVENUE       | CUSIP: 546749AU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2898844.20   | 2.15%             | 2027-11-01      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| County of Lowndes MS                                                      | LOWNDES CNTY MS SOL WST DISP & POLL CONTROL REVENUE                | CUSIP: 54877EAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500161.65    | 0.37%             | 2037-04-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| County of Luzerne PA                                                      | LUZERNE CNTY PA                                                    | CUSIP: 550697VZ6<br>LEI: 5493001Z1Y4QDISEER29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022192.00   | 0.76%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                               | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                  | CUSIP: 56035DCR1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2011603.40   | 1.49%             | 2050-03-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                          | MARICOPA CNTY AZ INDL DEV AUTH HOSP REVENUE                        | CUSIP: 56678PBT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1200993.07   | 0.89%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                 | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE                   | CUSIP: 57421CHV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094977.10   | 0.81%             | 2045-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                  | MASSACHUSETTS ST DEV FIN AGY REVENUE                               | CUSIP: 57585BDA3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000317.30   | 0.74%             | 2029-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                  | MASSACHUSETTS ST DEV FIN AGY REVENUE                               | CUSIP: 57585BSB5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1938006.00   | 1.44%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Health & Educational Facilities Authority                   | MASSACHUSETTS ST HLTH & EDUCTNL FACS AUTH REVENUE                  | CUSIP: 57586CGB5<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250000.00    | 0.19%             | 2040-07-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| Borough of Matanuska-Susitna AK                                           | MATANUSKA-SUSITNA BORO AK LEASE REVENUE                            | CUSIP: 576553CU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2278197.60   | 1.69%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| School Board of Miami-Dade County/The                                     | MIAMI-DADE CNTY FL SCH BRD COPS                                    | CUSIP: 59333MW92<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1334940.52   | 0.99%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami-Dade County Housing Finance Authority                               | MIAMI-DADE CNTY FL HSG FIN AUTH MF HSG REVENUE                     | CUSIP: 593344CA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254202.83    | 0.19%             | 2029-03-01      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Water & Sewer System Revenue                      | MIAMI-DADE CNTY FL WTR & SWR REVENUE                               | CUSIP: 59334DNY6<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    500000 | PA      | $522019.50    | 0.39%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Water & Sewer System Revenue                      | MIAMI-DADE CNTY FL WTR & SWR REVENUE                               | CUSIP: 59334DPS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $856855.12    | 0.64%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                | MICHIGAN ST FIN AUTH REVENUE                                       | CUSIP: 59447T3W1<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1746023.13   | 1.30%             | 2047-04-15      | Floating      | 3.03%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                | MICHIGAN ST FIN AUTH REVENUE                                       | CUSIP: 59447TQE6<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2043556.20   | 1.52%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                | MICHIGAN ST FIN AUTH REVENUE                                       | CUSIP: 59447TU68<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1193477.25   | 0.89%             | 2038-10-15      | Variable      | 1.20%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                              | MICHIGAN ST HSG DEV AUTH MF REVENUE                                | CUSIP: 594650UC5<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1153196.54   | 0.86%             | 2042-12-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Michigan State Hospital Finance Authority                                 | MICHIGAN ST HOSP FIN AUTH                                          | CUSIP: 59465HXE1<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1115913.20   | 0.83%             | 2055-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri Higher Education Loan Authority                                  | MISSOURI ST HGR EDU LOAN AUTH                                      | CUSIP: 606072LC8<br>LEI: 549300MTJ0T46T0MPL41 | Long             |  | MUN               | US        |    830202 | PA      | $764807.07    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri        | MISSOURI ST HLTH & EDUCTNL FACS AUTH HLTH FACS REVENUE             | CUSIP: 60637AYP1<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    250000 | PA      | $281447.23    | 0.21%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Monroe County/The                                | MONROE CNTY GA DEV AUTH POLL CONTROL REVENUE                       | CUSIP: 610530FY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250250.88    | 0.19%             | 2048-10-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act               | NEW HAMPSHIRE ST HLTH & EDU FACS AUTH REVENUE                      | CUSIP: 64461XJX4<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    405000 | PA      | $407513.23    | 0.30%             | 2040-06-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                       | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE       | CUSIP: 64542UHK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000553.50   | 0.74%             | 2030-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                 | NEW JERSEY ST ECON DEV AUTH REV                                    | CUSIP: 64577XET9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1515172.65   | 1.13%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                 | NEW JERSEY ST ECON DEV AUTH MTR VEHCL SURCHARGE REVENUE            | CUSIP: 64578JBA3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    195000 | PA      | $195140.19    | 0.14%             | 2029-07-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                             | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                       | CUSIP: 646140JX2<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1122403.80   | 0.83%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                     | NEW MEXICO ST MTGE FIN AUTH                                        | CUSIP: 6472007V0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $217233.38    | 0.16%             | 2049-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                       | NEW YORK NY                                                        | CUSIP: 64966SFQ4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040467.40   | 0.77%             | 2027-08-01      | 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 FUTURE TAX          | CUSIP: 64971QV26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.37%             | 2036-11-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue   | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                     | CUSIP: 64971XHV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 1.49%             | 2042-08-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue   | NEW YORK CITY NY TRANSITIONAL FIN AUTH REV                         | CUSIP: 64972JYU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071865.70   | 0.80%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Building Aid Revenue         | NEW YORK CITY NY TRANSITIONAL FIN AUTH BLDG AID REVENUE            | CUSIP: 64972LAZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1452263.63   | 1.08%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                     | NEW YORK ST HSG FIN AGY AFFORDABLE HSG REVENUE                     | CUSIP: 64987J4L2<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009536.20   | 0.75%             | 2064-11-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                        | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT               | CUSIP: 65000B5X2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $531285.65    | 0.39%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                        | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT               | CUSIP: 65000B6P8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030998.40   | 0.77%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                        | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT               | CUSIP: 65000BW61<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    750000 | PA      | $785038.88    | 0.58%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                     | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE                | CUSIP: 658207TZ8<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |     65000 | PA      | $65248.94     | 0.05%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of North Carolina                                                   | NORTH CAROLINA ST                                                  | CUSIP: 6582566E7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2120875.00   | 1.58%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of North Carolina                                                   | NORTH CAROLINA ST LTD OBLIG                                        | CUSIP: 65829QGC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $795930.60    | 0.59%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                       | NORTH DAKOTA ST HSG FIN AGY                                        | CUSIP: 658909MA1<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150271.82    | 0.11%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Industries Authority                                             | OKLAHOMA ST INDUSTRIES AUTH EDL FACS LEASE REVENUE                 | CUSIP: 67910FAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2698158.75   | 2.00%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Turnpike Authority                                               | OKLAHOMA ST TURNPIKE AUTH                                          | CUSIP: 679111F33<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |    400000 | PA      | $454402.68    | 0.34%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                         | OREGON ST FACS AUTH REVENUE                                        | CUSIP: 68608JXF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100000.00   | 0.82%             | 2034-08-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Town of Oyster Bay NY                                                     | OYSTER BAY NY                                                      | CUSIP: 692160RT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $325563.53    | 0.24%             | 2027-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                     | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV        | CUSIP: 708692BZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2010823.80   | 1.49%             | 2046-10-01      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                     | PENNSYLVANIA ST ECON DEV FING AUTH UPMC REVENUE                    | CUSIP: 70870JGY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1642318.05   | 1.22%             | 2060-03-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                       | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                        | CUSIP: 7087962J5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |     85000 | PA      | $85000.65     | 0.06%             | 2041-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                       | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                        | CUSIP: 7087964R5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    780000 | PA      | $780634.22    | 0.58%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sports & Exhibition Authority of Pittsburgh & Allegheny County            | PITTSBURGH & ALLEGHENY CNTY PA SPORTS & EXHIBITION AUTH HOTE       | CUSIP: 724791CF3<br>LEI: 254900JJT7A9Y409G258 | Long             | DBT              | MUN               | US        |    875000 | PA      | $934863.56    | 0.69%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                   | PORT AUTH OF NEW YORK & NEW JERSEY NY                              | CUSIP: 73358XJU7<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019282.40   | 0.76%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                   | PORT AUTH OF NEW YORK & NEW JERSEY NY                              | CUSIP: 73358XRF1<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1406270.25   | 1.04%             | 2032-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                  | PUBLIC FIN AUTH WI TAX EXEMPT POOLED SECURITIES                    | CUSIP: 74448HAA5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1624796 | PA      | $1634031.67   | 1.21%             | 2059-08-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Parish of St John the Baptist LA                                          | SAINT JOHN THE BAPTIST PARISH LA REVENUE                           | CUSIP: 79020FAW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2009819.60   | 1.49%             | 2037-06-01      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                 | SALT LAKE CITY UT ARPT REVENUE                                     | CUSIP: 795576LH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505028.90    | 0.38%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                     | SAN ANTONIO TX ELEC & GAS REVENUE                                  | CUSIP: 79625GNE9<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |    900000 | PA      | $908280.18    | 0.67%             | 2055-02-01      | Variable      | 3.08%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                     | SAN ANTONIO TX ELEC & GAS REVENUE                                  | CUSIP: 79625GNS8<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000767.10   | 0.74%             | 2055-02-01      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| City of San Jose CA                                                       | SAN JOSE CA MF HSG REVENUE                                         | CUSIP: 798165LF1<br>LEI: 549300QHIHSH68W22O38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007405.50   | 0.75%             | 2027-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Seattle WA Municipal Light & Power Revenue                        | SEATTLE WA MUNI LIGHT & PWR REVENUE                                | CUSIP: 812643WU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $353512.30    | 0.26%             | 2045-05-01      | Floating      | 2.53%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                        | SOUTH CAROLINA JOBS-ECON DEV AUTH ENVRNMNTL IMPT REVENUE           | CUSIP: 83703DAA5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    850000 | PA      | $851018.22    | 0.63%             | 2033-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                        | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HOSP FACS REVENUE             | CUSIP: 83703EMU6<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    500000 | PA      | $560187.70    | 0.42%             | 2049-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| South Dakota Housing Development Authority                                | SOUTH DAKOTA ST HSG DEV AUTH                                       | CUSIP: 83756CQM0<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |    175000 | PA      | $175430.48    | 0.13%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                         | SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE                    | CUSIP: 84136FBB2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1421715.89   | 1.06%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                 | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP HOSP REVENUE            | CUSIP: 87638QTM1<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    500000 | PA      | $534595.60    | 0.40%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp III                         | TEXAS ST MUNI GAS ACQUISITION& SPLY CORP III GAS SPLY REVEN        | CUSIP: 88256HBE7<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |    500000 | PA      | $533841.70    | 0.40%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                      | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX            | CUSIP: 89602HJD0<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2156195.80   | 1.60%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Troy Capital Resource Corp                                                | TROY NY CAPITAL RESOURCE CORP REVENUE                              | CUSIP: 897579BL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517854.65    | 0.38%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Troy Capital Resource Corp                                                | TROY NY CAPITAL RESOURCE CORP REVENUE                              | CUSIP: 897579BM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528126.10    | 0.39%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                    | U.S. Treasury Notes                                                | CUSIP: 91282CPR6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    900000 | PA      | $892898.44    | 0.66%             | 2030-12-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| University of California                                                  | UNIV OF CALIFORNIA REVENUES                                        | CUSIP: 91412GSJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $800000.00    | 0.59%             | 2048-05-15      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                        | UNIV OF TEXAS TX UNIV REVENUES                                     | CUSIP: 91514AMU6<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1870328.43   | 1.39%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp                                                         | UTAH HSG CORP SF MTGE REVENUE                                      | CUSIP: 917437TB1<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    985000 | PA      | $1134578.95   | 0.84%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| City of Venice FL                                                         | VENICE FL                                                          | CUSIP: 922687AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $902508.57    | 0.67%             | 2030-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 15                              | VILLAGE CDD NO 15 SPL ASSMNT REVENUE                               | CUSIP: 92708KAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504837.50    | 0.37%             | 2029-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                               | VIRGINIA ST SMALL BUSINESS FING AUTH RSDL FAC CARE REVENUE         | CUSIP: 928103BA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $384964.02    | 0.29%             | 2030-12-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                               | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                       | CUSIP: 928104NF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025169.60   | 0.76%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| West Virginia Economic Development Authority                              | WEST VIRGINIA ST ECON DEV AUTH SOL WST DISP FACS                   | CUSIP: 95648VBV0<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023329.80   | 0.76%             | 2055-04-15      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| Wilmington Housing Authority                                              | WILMINGTON NC HSG AUTH MF REVENUE                                  | CUSIP: 971696AK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2006609.60   | 1.49%             | 2044-05-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority Home Ownership Revenue | WISCONSIN ST HSG & ECON DEV AUTH HOME OWNERSHIP REVENUE            | CUSIP: 97689QDD5<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |     60000 | PA      | $60043.69     | 0.04%             | 2046-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                        | WISCONSIN ST                                                       | CUSIP: 97705MM51<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2069260.00   | 1.54%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                       | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                      | CUSIP: 97712JQJ5<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2121691.80   | 1.58%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

**Name of Applicant:** DEUTSCHE DWS MUNICIPAL TRUST

**Signature:** Diane Kenneally

**Name of Signer:** Diane Kenneally

**Title:** Treasurer and Chief Financial Officer