# EDGAR Filing Document

**Accession Number:** 0000830487
**File Stem:** 0000940400-26-011983
**Filing Date:** 2026-3
**Character Count:** 200207
**Document Hash:** 95d930904306937573ac23610f20ed9e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-011983.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0000940400-26-011983

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260130

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.
- **CENTRAL INDEX KEY:** 0000830487

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05497
- **FILM NUMBER:** 26808749

**BUSINESS ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 888-777-0102

**MAIL ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MUNICIPAL HIGH INCOME FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SPECIAL OPPORTUNITIES MUNICIPAL FUND INC
- **DATE OF NAME CHANGE:** 19881025

## Nport-Ex

Schedule of Investments (unaudited)

January 31, 2026

***If you need assistance accessing this content, please reach out to your sales representative or send an email to*** <u>accessibility@franklintempleton.com.</u>

 **Western Asset Municipal High Income Fund Inc.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity <br>Date<br>| Face <br>Amount<br>| Value |
| **Municipal Bonds — 93.1%** | **Municipal Bonds — 93.1%** | **Municipal Bonds — 93.1%** | **Municipal Bonds — 93.1%** | **Municipal Bonds — 93.1%** |
| *Alabama — 5.1%* | *Alabama — 5.1%* | *Alabama — 5.1%* | *Alabama — 5.1%* | *Alabama — 5.1%* |
| &nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, AL, Gas Project Revenue Bonds, Series D-1, <br> Refunding  | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; $200000 | &nbsp;&nbsp;&nbsp; $212171<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jefferson County, AL, Sewer Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants, Series 2024, Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 10/1/45 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1586503<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants, Series 2024, Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 10/1/49 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2079313<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants, Series 2024, Refunding | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 10/1/53 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1049587<br>|
| &nbsp;&nbsp;&nbsp; Mobile County, AL, IDA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solid Waste Disposal Facility, Calvert LLC Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/54 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp; 279473<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solid Waste Disposal Facility, Calvert LLC Project, Series B | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 12/1/54 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 232144<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Southeast Alabama Gas Supply District, Gas Supply Revenue, Project No 1, <br> Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 375908<br>|
| &nbsp;&nbsp;&nbsp; Southeast Energy Authority, AL, Cooperative District, Energy Supply Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 1/1/33 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp; 555943<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/35 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp; 1544233<br>|
| *Total Alabama* | *Total Alabama* | *Total Alabama* | *Total Alabama* | &nbsp;&nbsp; *7915275* |
| *Alaska — 0.7%* | *Alaska — 0.7%* | *Alaska — 0.7%* | *Alaska — 0.7%* | *Alaska — 0.7%* |
| &nbsp;&nbsp;&nbsp; Anchorage, AK, Port Revenue, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/50 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 252945<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Northern Tobacco Securitization Corp., AK, Tobacco Settlement Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Senior Bonds, Class 1, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/36 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 400102<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Senior Bonds, Class 1, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/50 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 208234<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Senior Bonds, Class 2, Series B-1, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/50 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp; 174325<br>|
| *Total Alaska* | *Total Alaska* | *Total Alaska* | *Total Alaska* | &nbsp;&nbsp; *1035606* |
| *Arizona — 4.9%* | *Arizona — 4.9%* | *Arizona — 4.9%* | *Arizona — 4.9%* | *Arizona — 4.9%* |
| &nbsp;&nbsp;&nbsp; Arizona, AZ, IDA Revenue, Doral Academy Of Northern Nevada Project, Series A, <br> Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/15/51 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 389438<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chandler, AZ, IDA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intel Corp. Project | &nbsp;&nbsp; 3.800% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; 812103<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intel Corp. Project | &nbsp;&nbsp; 4.100% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 253189<br> <sup>(a)(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intel Corp. Project | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/29 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; 612228<br> <sup>(a)(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; La Paz County, AZ, IDA Revenue, Charter School Solutions, Harmony Public <br> School Project, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/36 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1000618<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Maricopa County, AZ, IDA Revenue, Legacy Traditional Schools Project, <br> Series 2019, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/49 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 474059<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Navajo Nation, AZ, Revenue, Series A, Refunding  | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp; 190277<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Phoenix, AZ, IDA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basis School Inc., Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1000448<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Great Hearts Academies, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp; 1200210<br>|
| &nbsp;&nbsp;&nbsp; Salt Verde, AZ, Financial Corp., Natural Gas Revenue, Series 2007  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/37 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1647429<br>|
| *Total Arizona* | *Total Arizona* | *Total Arizona* | *Total Arizona* | &nbsp;&nbsp; *7579999* |
| *California — 11.4%* | *California — 11.4%* | *California — 11.4%* | *California — 11.4%* | *California — 11.4%* |
| &nbsp;&nbsp;&nbsp; Alameda, CA, Corridor Transportation Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible CAB, Series C, AG | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/52 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; 616719<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Subordinated Lien, Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/34 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 506771<br>|
| &nbsp;&nbsp;&nbsp; California State Community Choice Financing Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series B | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/32 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1583867<br> <sup>(a)(b)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **Western Asset Municipal High Income Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *California — continued* | *California — continued* | *California — continued* | *California — continued* | *California — continued* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series B-1 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; $500000 | &nbsp;&nbsp;&nbsp; $528968<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series C | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/32 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 265179<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series E | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/32 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp; 1394729<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series G | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/35 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; 611988<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series H | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/33 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 548802<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; California State Community Housing Agency, Essential Housing Revenue, <br> Stoneridge Apartments, Series A  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 2/1/56 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 390775<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; California State MFA Revenue, Senior Lien, LINXS APM Project, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/31/43 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 706731<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; California State PCFA Water Furnishing Revenue, San Diego County Water <br> Authority Desalination Project, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/39 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 723053<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; California State Public Finance Authority, Senior Living Revenue, Enso Village <br> Project, Green Bond, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/36 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 253848<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Inland Valley, CA, Development Agency, Successor Agency Tax Allocation <br> Revenue, Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/44 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 504685<br>|
| &nbsp;&nbsp;&nbsp; Mountain House Public Financing Authority, CA, Utility Systems Revenue, Green <br> Bonds, Series A, BAM  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/45 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 719310<br>|
| &nbsp;&nbsp;&nbsp; M-S-R Energy Authority, CA, Natural Gas Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1242648<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 11/1/34 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2459473<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2485296<br>|
| &nbsp;&nbsp;&nbsp; River Islands, CA, Public Financing Authority, Special Tax Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Facilities District No 2003-1, Series A-1, Refunding, AG | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 9/1/52 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 315659<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Facilities District No 2023-1 | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 9/1/53 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp; 541677<br>|
| &nbsp;&nbsp;&nbsp; San Francisco, CA, City & County Airport Commission, International Airport <br> Revenue, Second Series A, Unrefunded  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/47 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1002372<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tobacco Securitization Authority of Southern California Revenue, Asset Backed <br> Refunding, San Diego County Tobacco Asset Securitization Corp., Class 1, Series <br> A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/48 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 200238<br>|
| *Total California* | *Total California* | *Total California* | *Total California* | &nbsp;&nbsp; *17602788* |
| *Colorado — 1.4%* | *Colorado — 1.4%* | *Colorado — 1.4%* | *Colorado — 1.4%* | *Colorado — 1.4%* |
| &nbsp;&nbsp;&nbsp; Colorado State Health Facilities Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonspirit Health Initiatives, Series B-2 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 250266<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Improvement Second Tier Bonds, Bethesda Project | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 9/15/54 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 399966<br>|
| &nbsp;&nbsp;&nbsp; Colorado State High Performance Transportation Enterprise Revenue, C-470 <br> Express Lanes  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/31/51 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; 147678<br>|
| &nbsp;&nbsp;&nbsp; North Range, CO, Metropolitan District No 2, GO, Series A, Refunding  | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 12/1/37 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 500143<br>|
| &nbsp;&nbsp;&nbsp; Southern Ute Indian Tribe Reservation, CO, GO, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/35 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 332187<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Village Metropolitan District, CO, Limited & Special Revenue, Series 2020, <br> Refunding and Improvements  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/40 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 501412<br>|
| *Total Colorado* | *Total Colorado* | *Total Colorado* | *Total Colorado* | &nbsp;&nbsp; *2131652* |
| *Connecticut — 0.7%* | *Connecticut — 0.7%* | *Connecticut — 0.7%* | *Connecticut — 0.7%* | *Connecticut — 0.7%* |
| &nbsp;&nbsp;&nbsp; Connecticut State Special Tax Revenue, Transportation Infrastructure, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/37 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 519411<br>|
| &nbsp;&nbsp;&nbsp; Connecticut State, GO, Series A  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 4/15/37 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; 613247<br>|
| *Total Connecticut* | *Total Connecticut* | *Total Connecticut* | *Total Connecticut* | &nbsp;&nbsp; *1132658* |
| *District of Columbia — 0.4%* | *District of Columbia — 0.4%* | *District of Columbia — 0.4%* | *District of Columbia — 0.4%* | *District of Columbia — 0.4%* |
| &nbsp;&nbsp;&nbsp; Metropolitan Washington, DC, Airports Authority Aviation Revenue, Series A, <br> Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; *659324*<br> <sup>(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

 **Western Asset Municipal High Income Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Florida — 5.1%* | *Florida — 5.1%* | *Florida — 5.1%* | *Florida — 5.1%* | *Florida — 5.1%* |
| &nbsp;&nbsp;&nbsp; Broward County, FL, Port Facilities Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Bonds, Series B | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 9/1/49 | &nbsp;&nbsp; $2500000 | &nbsp;&nbsp;&nbsp; $2124971<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022 | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 9/1/52 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1040813<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Florida State Development Finance Corp., Educational Facilities Revenue, Mater <br> Academy Projects, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/40 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp; 654111<br>|
| &nbsp;&nbsp;&nbsp; Fort Pierce, FL, Utilities Authority Revenue, Series A, Refunding, AG  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 10/1/52 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; 136483<br>|
| &nbsp;&nbsp;&nbsp; Miami-Dade County, FL, Seaport Revenue, Senior Bonds, Series A, Refunding  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 10/1/52 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 760456<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Okaloosa County, FL, IDR, Air Force Enlisted Village Inc. Project  | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 5/15/45 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 102340<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Orange County, FL, Health Facilities Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orlando Health Inc., Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/53 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 254041<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orlando Health Inc., Series A, Refunding | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 10/1/56 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 192140<br>|
| &nbsp;&nbsp;&nbsp; Palm Beach County, FL, Health Facilities Authority Hospital Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jupiter Medical Center Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 367681<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jupiter Medical Center Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/47 | &nbsp;&nbsp; 1515000 | &nbsp;&nbsp;&nbsp; 1520428<br>|
| &nbsp;&nbsp;&nbsp; Palm Beach County, FL, Health Facilities Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toby & Leon Cooperman Sinai Residences of Boca Raton Expansion, <br> Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/41 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 91576<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toby & Leon Cooperman Sinai Residences of Boca Raton Expansion, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/55 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 324288<br>|
| &nbsp;&nbsp;&nbsp; Reunion, FL, East Community Development District, Special Assessment Bond, <br> Series A-2  | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 5/1/33 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp; 3<br> \*<sup>(e)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wildwood, FL, Village Community Development District No 15, Special <br> Assessment Revenue  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/43 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 357712<br> <sup>(d)</sup><br>|
| *Total Florida* | *Total Florida* | *Total Florida* | *Total Florida* | &nbsp;&nbsp; *7927043* |
| *Georgia — 1.0%* | *Georgia — 1.0%* | *Georgia — 1.0%* | *Georgia — 1.0%* | *Georgia — 1.0%* |
| &nbsp;&nbsp;&nbsp; Georgia State Municipal Electric Authority, Power Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plant Vogtle Units 3&4, Project M, Series A | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/1/64 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 360317<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plant Vogtle Units 3&4, Project P, Series A | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 7/1/64 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 257895<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plant Vogtle Units 3&4, Project P, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/56 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 247151<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Project One, Subordinated, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/45 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 255987<br>|
| &nbsp;&nbsp;&nbsp; Main Street Natural Gas Inc., GA, Gas Project Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/15/43 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; 152338<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/30 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 265852<br> <sup>(a)(b)</sup><br>|
| *Total Georgia* | *Total Georgia* | *Total Georgia* | *Total Georgia* | &nbsp;&nbsp; *1539540* |
| *Hawaii — 0.2%* | *Hawaii — 0.2%* | *Hawaii — 0.2%* | *Hawaii — 0.2%* | *Hawaii — 0.2%* |
| &nbsp;&nbsp;&nbsp; Honolulu, HI, City & County Wastewater System Revenue, First Senior Bond <br> Resolution, Series A | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; *315302*<br>|
| *Illinois — 13.9%* | *Illinois — 13.9%* | *Illinois — 13.9%* | *Illinois — 13.9%* | *Illinois — 13.9%* |
| &nbsp;&nbsp;&nbsp; Chicago, IL, Board of Education, Dedicated Capital Improvement, Special Tax <br> Revenue, Series 2018  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/42 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1009522<br>|
| &nbsp;&nbsp;&nbsp; Chicago, IL, Board of Education, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dedicated, Series H | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/46 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 954737<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/39 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1250448<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, Refunding, AG | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/32 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp; 1821847<br>|
| &nbsp;&nbsp;&nbsp; Chicago, IL, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago Works, Series A | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 1/1/39 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; 586178<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 1/1/49 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; 150511<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **Western Asset Municipal High Income Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Illinois — continued* | *Illinois — continued* | *Illinois — continued* | *Illinois — continued* | *Illinois — continued* |
| &nbsp;&nbsp;&nbsp; Chicago, IL, O'Hare International Airport Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Senior Lien, Series C, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/44 | &nbsp;&nbsp; $500000 | &nbsp;&nbsp;&nbsp; $515739<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, Series G | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/42 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 503447<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chicago, IL, Transit Authority, Sales Tax Receipts Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/51 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1000098<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/45 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 510021<br>|
| &nbsp;&nbsp;&nbsp; Chicago, IL, Wastewater Transmission Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/47 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 300413<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/38 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 507762<br>|
| &nbsp;&nbsp;&nbsp; Chicago, IL, Waterworks Revenue, Second Lien, Series 2017-2, Refunding, AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/32 | &nbsp;&nbsp; 1260000 | &nbsp;&nbsp;&nbsp; 1306175<br>|
| &nbsp;&nbsp;&nbsp; Illinois State Finance Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Navy Pier Inc., Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/34 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 266130<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Navy Pier Inc., Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/49 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 237401<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Surface Freight Transfer Facilities, Centerpoint Joliet Terminal Railroad <br> Project | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 7/2/35 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 364424<br> <sup>(a)(b)(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Illinois State Sports Facilities Authority Revenue, Sport Facilities Project, <br> Series 2019, Refunding, BAM  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 267022<br>|
| &nbsp;&nbsp;&nbsp; Illinois State University, Auxiliary Facilities System Revenue, Series A, <br> Refunding, AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/28 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 105162<br>|
| &nbsp;&nbsp;&nbsp; Illinois State, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 306775<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/1/37 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1343968<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/1/46 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 510132<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp; 1167680<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; 583064<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/27 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 415205<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/27 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp; 1198007<br>|
| &nbsp;&nbsp;&nbsp; Metropolitan Pier & Exposition Authority, IL, Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/57 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 342164<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/15/42 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 486861<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/15/47 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 880540<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 249763<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/42 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1292509<br>|
| &nbsp;&nbsp;&nbsp; Regional Transportation Authority, IL, GO, Series A, Refunding, NATL  | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp; 930000 | &nbsp;&nbsp;&nbsp; 990289<br>|
| *Total Illinois* | *Total Illinois* | *Total Illinois* | *Total Illinois* | &nbsp;&nbsp; *21423994* |
| *Indiana — 2.0%* | *Indiana — 2.0%* | *Indiana — 2.0%* | *Indiana — 2.0%* | *Indiana — 2.0%* |
| &nbsp;&nbsp;&nbsp; Indiana State Finance Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BHI Senior Living Inc., Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/41 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 476703<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marion General Hospital, Series A | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/45 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 177706<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Midwestern Disaster Relief, Ohio Valley Electric Corp. Project, Series A | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 11/1/30 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 207092<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wastewater Utility, First Lien, CWA Authority Project, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/45 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1067940<br>|
| &nbsp;&nbsp;&nbsp; Valparaiso, IN, Exempt Facilities Revenue, Pratt Paper LLC Project, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/54 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp; 1081610<br> <sup>(c)(d)</sup><br>|
| *Total Indiana* | *Total Indiana* | *Total Indiana* | *Total Indiana* | &nbsp;&nbsp; *3011051* |
| *Iowa — 0.1%* | *Iowa — 0.1%* | *Iowa — 0.1%* | *Iowa — 0.1%* | *Iowa — 0.1%* |
| &nbsp;&nbsp;&nbsp; Iowa State Tobacco Settlement Authority Revenue, Asset Backed Senior Bonds, <br> Class 1, Series A-2, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/49 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; *126880*<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

 **Western Asset Municipal High Income Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Kentucky — 1.7%* | *Kentucky — 1.7%* | *Kentucky — 1.7%* | *Kentucky — 1.7%* | *Kentucky — 1.7%* |
| &nbsp;&nbsp;&nbsp; Kentucky State PEA, Gas Supply Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/2/26 | &nbsp;&nbsp; $1500000 | &nbsp;&nbsp;&nbsp; $1511646<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 12/1/29 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 212885<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/36 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp; 976466<br>|
| *Total Kentucky* | *Total Kentucky* | *Total Kentucky* | *Total Kentucky* | &nbsp;&nbsp; *2700997* |
| *Louisiana — 1.5%* | *Louisiana — 1.5%* | *Louisiana — 1.5%* | *Louisiana — 1.5%* | *Louisiana — 1.5%* |
| &nbsp;&nbsp;&nbsp; Louisiana State PFA, Lease Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provident Group, Flagship Properties | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 708074<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provident Group, Flagship Properties, Series A | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/49 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 442655<br>|
| &nbsp;&nbsp;&nbsp; St. John the Baptist Parish, LA, State Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil Corp. Project, Series A-3, Refunding | &nbsp;&nbsp; 2.200% | &nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 398944<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil Corp. Project, Series B-2, Refunding | &nbsp;&nbsp; 2.375% | &nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 249518<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil Corp. Project, Series C, Refunding | &nbsp;&nbsp; 3.300% | &nbsp;&nbsp; 7/3/28 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 506154<br> <sup>(a)(b)</sup><br>|
| *Total Louisiana* | *Total Louisiana* | *Total Louisiana* | *Total Louisiana* | &nbsp;&nbsp; *2305345* |
| *Maryland — 0.7%* | *Maryland — 0.7%* | *Maryland — 0.7%* | *Maryland — 0.7%* | *Maryland — 0.7%* |
| &nbsp;&nbsp;&nbsp; Maryland State EDC Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan State University Project | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 7/1/50 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 305339<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagirt Marine Terminal Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/44 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 405120<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Maryland State Health & Higher EFA Revenue, Frederick Health System, <br> Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 292613<br>|
| *Total Maryland* | *Total Maryland* | *Total Maryland* | *Total Maryland* | &nbsp;&nbsp; *1003072* |
| *Massachusetts — 0.7%* | *Massachusetts — 0.7%* | *Massachusetts — 0.7%* | *Massachusetts — 0.7%* | *Massachusetts — 0.7%* |
| &nbsp;&nbsp;&nbsp; Massachusetts State DFA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boston Medical Center, Sustainability Bonds, Series G, Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/1/52 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 491324<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northeastern University Issue, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/44 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 532855<br>|
| *Total Massachusetts* | *Total Massachusetts* | *Total Massachusetts* | *Total Massachusetts* | &nbsp;&nbsp; *1024179* |
| *Michigan — 1.1%* | *Michigan — 1.1%* | *Michigan — 1.1%* | *Michigan — 1.1%* | *Michigan — 1.1%* |
| &nbsp;&nbsp;&nbsp; Detroit, MI, GO, Unlimited Tax, Series C  | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 5/1/43 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 780191<br>|
| &nbsp;&nbsp;&nbsp; Michigan State Finance Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henry Ford Health System, Series A | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/50 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 355176<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Henry Ford Health Detroit South Campus Central Utility Plant Project, <br> Green Bonds, Series 2024 | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 2/28/54 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 235743<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tobacco Settlement Asset Backed Senior Bonds, Series B-1, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/49 | &nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp; 14983<br>|
| &nbsp;&nbsp;&nbsp; Michigan State Strategic Fund Ltd. Obligation Revenue, I-75 Improvement <br> Project  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/31/43 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 251181<br> <sup>(c)</sup><br>|
| *Total Michigan* | *Total Michigan* | *Total Michigan* | *Total Michigan* | &nbsp;&nbsp; *1637274* |
| *Missouri — 1.8%* | *Missouri — 1.8%* | *Missouri — 1.8%* | *Missouri — 1.8%* | *Missouri — 1.8%* |
| &nbsp;&nbsp;&nbsp; Missouri State HEFA Revenue, Series A, Refunding  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 2/1/44 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 724494<br>|
| &nbsp;&nbsp;&nbsp; St. Louis County, MO, IDA, Senior Living Facilities Revenue, Friendship Village of <br> Sunset Hills, Series A  | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 9/1/43 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2001497<br>|
| *Total Missouri* | *Total Missouri* | *Total Missouri* | *Total Missouri* | &nbsp;&nbsp; *2725991* |
| *Nebraska — 0.3%* | *Nebraska — 0.3%* | *Nebraska — 0.3%* | *Nebraska — 0.3%* | *Nebraska — 0.3%* |
| &nbsp;&nbsp;&nbsp; Omaha, NE, Public Power District, Electric System Revenue, Series B, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 2/1/46 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; *466996*<br>|
| *Nevada — 0.5%* | *Nevada — 0.5%* | *Nevada — 0.5%* | *Nevada — 0.5%* | *Nevada — 0.5%* |
| &nbsp;&nbsp;&nbsp; State of Nevada Department of Business & Industry Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter School Lease Revenue, Somerset Academy, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/15/35 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 300080<br> <sup>(d)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **Western Asset Municipal High Income Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Nevada — continued* | *Nevada — continued* | *Nevada — continued* | *Nevada — continued* | *Nevada — continued* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter School Lease Revenue, Somerset Academy, Series A | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 12/15/45 | &nbsp;&nbsp; $500000 | &nbsp;&nbsp;&nbsp; $483214<br> <sup>(d)</sup><br>|
| *Total Nevada* | *Total Nevada* | *Total Nevada* | *Total Nevada* | &nbsp;&nbsp; *783294* |
| *New Hampshire — 1.4%* | *New Hampshire — 1.4%* | *New Hampshire — 1.4%* | *New Hampshire — 1.4%* | *New Hampshire — 1.4%* |
| &nbsp;&nbsp;&nbsp; National Finance Authority, NH, Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Presbyterian Senior Living Project, Series A | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/1/48 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 353270<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winston-Salem Sustainable Energy Partners LLC, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/35 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp; 963001<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winston-Salem Sustainable Energy Partners LLC, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/55 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; 782213<br>|
| *Total New Hampshire* | *Total New Hampshire* | *Total New Hampshire* | *Total New Hampshire* | &nbsp;&nbsp; *2098484* |
| *New Jersey — 5.5%* | *New Jersey — 5.5%* | *New Jersey — 5.5%* | *New Jersey — 5.5%* | *New Jersey — 5.5%* |
| &nbsp;&nbsp;&nbsp; New Jersey State EDA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Private Activity-The Goethals Bridge Replacement Project | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 1/1/43 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1501726<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Facility, Port Newark Container Terminal LLC Project, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/37 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp; 662220<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Jersey State Transportation Trust Fund Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series AA, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/42 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 4383274<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series BB | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/44 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1027665<br>|
| &nbsp;&nbsp;&nbsp; New Jersey State Turnpike Authority Revenue, Series C, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/44 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 758552<br>|
| &nbsp;&nbsp;&nbsp; Tobacco Settlement Financing Corp., NJ, Revenue, Series A, Refunding  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/1/46 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; 149622<br>|
| *Total New Jersey* | *Total New Jersey* | *Total New Jersey* | *Total New Jersey* | &nbsp;&nbsp; *8483059* |
| *New Mexico — 0.4%* | *New Mexico — 0.4%* | *New Mexico — 0.4%* | *New Mexico — 0.4%* | *New Mexico — 0.4%* |
| &nbsp;&nbsp;&nbsp; New Mexico State Municipal Energy Acquisition Authority, Gas Supply Revenue, <br> Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/30 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 426762<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Santa Fe, NM, Retirement Facilities Revenue, EL Castillo Retirement Residences <br> Project, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/15/49 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 234318<br>|
| *Total New Mexico* | *Total New Mexico* | *Total New Mexico* | *Total New Mexico* | &nbsp;&nbsp; *661080* |
| *New York — 10.7%* | *New York — 10.7%* | *New York — 10.7%* | *New York — 10.7%* | *New York — 10.7%* |
| &nbsp;&nbsp;&nbsp; Brookhaven, NY, Local Development Corp., Long Island Community Hospital <br> Project, Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/34 | &nbsp;&nbsp; 735000 | &nbsp;&nbsp;&nbsp; 808044<br>|
| &nbsp;&nbsp;&nbsp; Build NYC Resource Corp., NY, Revenue, East Harlem Scholars Academy Charter <br> School Project  | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 6/1/62 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 296627<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; MTA, NY, Transportation Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bonds, Series E, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/30 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 279908<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bonds, Series E, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/45 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 226798<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A-2 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/15/30 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 430579<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; New York City, NY, GO, Subseries A-1  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/1/40 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 754626<br>|
| &nbsp;&nbsp;&nbsp; New York City, NY, Industrial Development Agency Revenue, Yankee Stadium <br> Project, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/1/45 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 277893<br>|
| &nbsp;&nbsp;&nbsp; New York City, NY, TFA, Future Tax Secured Revenue, Subordinated, Series F, <br> Subseries F-1  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/1/47 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; 2317408<br>|
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority Revenue, Non-State Supported Debt, <br> Memorial Sloan-Kettering Cancer Center, Series B-1  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/51 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 454285<br>|
| &nbsp;&nbsp;&nbsp; New York State Liberty Development Corp., Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 World Trade Center Project, Class 1, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/44 | &nbsp;&nbsp; 1205000 | &nbsp;&nbsp;&nbsp; 1205032<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 World Trade Center Project, Class 3, Refunding | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 9/15/52 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 557839<br>|
| &nbsp;&nbsp;&nbsp; New York State Thruway Authority General Revenue, Junior Indebtedness <br> Obligations, Junior Lien, Series B, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 1/1/45 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 696100<br>|
| &nbsp;&nbsp;&nbsp; New York State Transportation Development Corp., Special Facilities Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C & D Redevelopment Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/33 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 774516<br> <sup>(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

 **Western Asset Municipal High Income Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *New York — continued* | *New York — continued* | *New York — continued* | *New York — continued* | *New York — continued* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C & D Redevelopment Project | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 4/1/35 | &nbsp;&nbsp; $400000 | &nbsp;&nbsp;&nbsp; $442811<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C & D Redevelopment Project | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 4/1/40 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 318659<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C & D Redevelopment Project | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 10/1/45 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 236760<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport New Terminal One Project, Green Bonds | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 6/30/60 | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp;&nbsp; 3235095<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport Terminal 4 Project, Series C, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/42 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 488647<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport Terminal Six Redevelopment Project, <br> Green Bonds, Series A, Refunding | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 12/31/54 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; 152382<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport Terminal Six Redevelopment Project, <br> Green Bonds, Series A, Refunding, AG | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 12/31/54 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 329823<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport Terminal Six Redevelopment Project, <br> Green Bonds, Series B, Refunding, AG, Step bond (0.000% to 12/31/34 then <br> 5.000%) | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 12/31/54 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; 99780<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LaGuardia Airport Terminal B Redevelopment Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 300052<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LaGuardia Airport Terminal B Redevelopment Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 499978<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey Revenue, Consolidated Series 221  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/15/45 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 914614<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Troy, NY, Capital Resource Corp., Revenue, Rensselaer Polytechnic Institute <br> Project, Series A, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 9/1/40 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 495613<br>|
| *Total New York* | *Total New York* | *Total New York* | *Total New York* | &nbsp;&nbsp; *16593869* |
| *North Carolina — 0.3%* | *North Carolina — 0.3%* | *North Carolina — 0.3%* | *North Carolina — 0.3%* | *North Carolina — 0.3%* |
| &nbsp;&nbsp;&nbsp; North Carolina State Turnpike Authority, Monroe Expressway Toll Revenue, <br> Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; *500597*<br>|
| *North Dakota — 0.3%* | *North Dakota — 0.3%* | *North Dakota — 0.3%* | *North Dakota — 0.3%* | *North Dakota — 0.3%* |
| &nbsp;&nbsp;&nbsp; Grand Forks, ND, Health Care System Revenue, Altru Health System, Refunding, <br> AG | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 12/1/46 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; *454295*<br>|
| *Ohio — 1.3%* | *Ohio — 1.3%* | *Ohio — 1.3%* | *Ohio — 1.3%* | *Ohio — 1.3%* |
| &nbsp;&nbsp;&nbsp; Buckeye, OH, Tobacco Settlement Financing Authority Revenue, Senior Bonds, <br> Series B-2, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/55 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; 659070<br>|
| &nbsp;&nbsp;&nbsp; Ohio State Air Quality Development Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Electric Co. Project, Series B | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 337391<br> <sup>(a)(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Electric Co. Project, Series D, Refunding | &nbsp;&nbsp; 3.700% | &nbsp;&nbsp; 10/1/28 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp; 141272<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ohio State Private Activity Revenue, Portsmouth Bypass Project  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/30/53 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 683861<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Port of Greater Cincinnati Development Authority Revenue, OH, Tax-Exempt <br> Parking Revenue, 3CDC Obligated Group Parking Facilities, Series A, Refunding, <br> AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/60 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 254963<br>|
| *Total Ohio* | *Total Ohio* | *Total Ohio* | *Total Ohio* | &nbsp;&nbsp; *2076557* |
| *Oklahoma — 0.3%* | *Oklahoma — 0.3%* | *Oklahoma — 0.3%* | *Oklahoma — 0.3%* | *Oklahoma — 0.3%* |
| &nbsp;&nbsp;&nbsp; Tulsa County, OK, Industrial Authority, Senior Living Community Revenue, <br> Montereau Inc. Project, Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 11/15/37 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; *508267*<br>|
| *Oregon — 0.3%* | *Oregon — 0.3%* | *Oregon — 0.3%* | *Oregon — 0.3%* | *Oregon — 0.3%* |
| &nbsp;&nbsp;&nbsp; Clackamas County, OR, Hospital Facility Authority Revenue, Senior Living, <br> Willamette View Project, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/37 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; *502806*<br>|
| *Pennsylvania — 3.7%* | *Pennsylvania — 3.7%* | *Pennsylvania — 3.7%* | *Pennsylvania — 3.7%* | *Pennsylvania — 3.7%* |
| &nbsp;&nbsp;&nbsp; Allegheny County, PA, HDA Revenue, University of Pittsburgh Medical Center, <br> Series A, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/15/39 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 349319<br>|
| &nbsp;&nbsp;&nbsp; Cumberland County, PA, Municipal Authority Revenue, Diakon Lutheran Social <br> Ministries Project, Unrefunded  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/28 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp; 135182<br>|
| &nbsp;&nbsp;&nbsp; Lancaster County, PA, IDA Revenue, Willow Valley Communities Project  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/49 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 482921<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **Western Asset Municipal High Income Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Pennsylvania — continued* | *Pennsylvania — continued* | *Pennsylvania — continued* | *Pennsylvania — continued* | *Pennsylvania — continued* |
| &nbsp;&nbsp;&nbsp; Lancaster County, PA, Convention Center Authority Revenue, Hotel Room Rental <br> Tax, Series B, Refunding, County GTD  | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 5/1/57 | &nbsp;&nbsp; $500000 | &nbsp;&nbsp;&nbsp; $499629<br>|
| &nbsp;&nbsp;&nbsp; Pennsylvania State Economic Development Financing Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax-Exempt Private Activity, The Penndot Major Bridges Package One Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/31/32 | &nbsp;&nbsp; 565000 | &nbsp;&nbsp;&nbsp; 629792<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax-Exempt Private Activity, The Penndot Major Bridges Package One Project | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/30/53 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp; 2627861<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Philadelphia, PA, Authority for IDR: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter School Revenue, A String Theory Charter School Project, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/40 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 401320<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City Service Agreement Revenue, Rebuild Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/38 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 520757<br>|
| *Total Pennsylvania* | *Total Pennsylvania* | *Total Pennsylvania* | *Total Pennsylvania* | &nbsp;&nbsp; *5646781* |
| *Puerto Rico — 4.1%* | *Puerto Rico — 4.1%* | *Puerto Rico — 4.1%* | *Puerto Rico — 4.1%* | *Puerto Rico — 4.1%* |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAB, Restructured, Series A-1 | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp; 172000 | &nbsp;&nbsp;&nbsp; 164249<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAB, Restructured, Series A-1 | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp; 1220000 | &nbsp;&nbsp;&nbsp; 424865<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 4.550% | &nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp; 50084<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 7/1/53 | &nbsp;&nbsp; 3020000 | &nbsp;&nbsp;&nbsp; 2917603<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/58 | &nbsp;&nbsp; 880000 | &nbsp;&nbsp;&nbsp; 862774<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-2 | &nbsp;&nbsp; 4.329% | &nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp; 527462<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-2A | &nbsp;&nbsp; 4.550% | &nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp; 1380000 | &nbsp;&nbsp;&nbsp; 1382331<br>|
| *Total Puerto Rico* | *Total Puerto Rico* | *Total Puerto Rico* | *Total Puerto Rico* | &nbsp;&nbsp; *6329368* |
| *Rhode Island — 0.1%* | *Rhode Island — 0.1%* | *Rhode Island — 0.1%* | *Rhode Island — 0.1%* | *Rhode Island — 0.1%* |
| &nbsp;&nbsp;&nbsp; Rhode Island State Health & Educational Building Corp., Student Housing <br> Revenue, Rhode Island Properties LLC, Subordinated Series B, AG | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 7/1/65 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; *205144*<br>|
| *South Carolina — 0.2%* | *South Carolina — 0.2%* | *South Carolina — 0.2%* | *South Carolina — 0.2%* | *South Carolina — 0.2%* |
| &nbsp;&nbsp;&nbsp; South Carolina State Jobs-EDA Hospital Facilities Revenue, Bon Secours Mercy <br> Health Inc., Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/44 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; *368958*<br>|
| *Tennessee — 0.5%* | *Tennessee — 0.5%* | *Tennessee — 0.5%* | *Tennessee — 0.5%* | *Tennessee — 0.5%* |
| &nbsp;&nbsp;&nbsp; Clarksville, TN, Water, Sewer & Gas Revenue, Series A  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 2/1/51 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 458623<br>|
| &nbsp;&nbsp;&nbsp; Metropolitan Government of Nashville & Davidson County, TN, Sports Authority <br> Revenue, Series A, AG  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/1/53 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 366744<br>|
| *Total Tennessee* | *Total Tennessee* | *Total Tennessee* | *Total Tennessee* | &nbsp;&nbsp; *825367* |
| *Texas — 3.3%* | *Texas — 3.3%* | *Texas — 3.3%* | *Texas — 3.3%* | *Texas — 3.3%* |
| &nbsp;&nbsp;&nbsp; Arlington, TX, Higher Education Finance Corp., Education Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basis Texas Charter Schools Inc., Refunding | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 6/15/65 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp; 455347<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uplift Education, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/46 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 199275<br>|
| &nbsp;&nbsp;&nbsp; Arlington, TX, Special Tax Revenue, Subordinated Lien, Series C, BAM  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/41 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 500232<br>|
| &nbsp;&nbsp;&nbsp; Austin, TX, Airport System Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/52 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 302495<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/39 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; 626050<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Central Texas Regional Mobility Authority Revenue, Senior Lien, Series B  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 1/1/51 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 443669<br>|
| &nbsp;&nbsp;&nbsp; Galveston, TX, Wharves & Terminal Revenue, Series A  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 8/1/38 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 812025<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Love Field, TX, Airport Modernization Corp., General Airport Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/33 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp; 20222<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/36 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp; 20173<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mission, TX, EDC, Solid Waste Disposal Revenue, Graphic Packaging <br> International, LLC Project, Green Bonds  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/30 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; 155696<br> <sup>(a)(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp., TX, Retirement Facility <br> Revenue, Westminster Manor Project, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/1/49 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 339771<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

 **Western Asset Municipal High Income Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Texas — continued* | *Texas — continued* | *Texas — continued* | *Texas — continued* | *Texas — continued* |
| &nbsp;&nbsp;&nbsp; Newark, TX, Higher Education Finance Corp., Education Revenue, TLC Academy, <br> Series A  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/15/56 | &nbsp;&nbsp; $350000 | &nbsp;&nbsp;&nbsp; $269175<br>|
| &nbsp;&nbsp;&nbsp; Tarrant County, TX, Cultural Education Facilities Finance Corp., Retirement <br> Facility Revenue, Buckner Retirement Services Inc. Project, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/37 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 710619<br>|
| &nbsp;&nbsp;&nbsp; Texas State Private Activity Bond Surface Transportation Corp. Revenue, Senior <br> Lien, NTE Mobility Partners Segments 3 LLC, Refunding  | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 6/30/41 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 317475<br> <sup>(c)</sup><br>|
| *Total Texas* | *Total Texas* | *Total Texas* | *Total Texas* | &nbsp;&nbsp; *5172224* |
| *Utah — 1.4%* | *Utah — 1.4%* | *Utah — 1.4%* | *Utah — 1.4%* | *Utah — 1.4%* |
| &nbsp;&nbsp;&nbsp; Salt Lake City, UT, Airport Revenue, Salt Lake City International Airport, Series A  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/1/53 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1023775<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Utah State Charter School Finance Authority, Charter School Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summit Academy Inc., Series A, Refunding, UT CSCE | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/15/39 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 361793<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Syracuse Arts Academy Project, UT CSCE | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/15/42 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 250269<br>|
| &nbsp;&nbsp;&nbsp; Utah State Infrastructure Agency, Telecommunications Revenue, Series A  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 10/15/33 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; 564042<br>|
| *Total Utah* | *Total Utah* | *Total Utah* | *Total Utah* | &nbsp;&nbsp; *2199879* |
| *Virginia — 1.5%* | *Virginia — 1.5%* | *Virginia — 1.5%* | *Virginia — 1.5%* | *Virginia — 1.5%* |
| &nbsp;&nbsp;&nbsp; Virginia State Port Authority, Port Facilities Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 252265<br> <sup>(c)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/45 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 302718<br> <sup>(c)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; Virginia State Small Business Financing Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Senior Campuses, Inc., Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/34 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 210659<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, 95 Express Lanes LLC Project, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/37 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1064653<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, I-495 HOT Lanes Project, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/31/47 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 500684<br> <sup>(c)</sup><br>|
| *Total Virginia* | *Total Virginia* | *Total Virginia* | *Total Virginia* | &nbsp;&nbsp; *2330979* |
| *Washington — 0.9%* | *Washington — 0.9%* | *Washington — 0.9%* | *Washington — 0.9%* | *Washington — 0.9%* |
| &nbsp;&nbsp;&nbsp; Port of Seattle, WA, Intermediate Lien Revenue, Series 2022, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/41 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 533943<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Washington State Health Care Facilities Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonspirit Health, Series A-1, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/1/44 | &nbsp;&nbsp; 535000 | &nbsp;&nbsp;&nbsp; 490892<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seattle Cancer Care Alliance, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/40 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp; 367827<br> <sup>(d)</sup><br>|
| *Total Washington* | *Total Washington* | *Total Washington* | *Total Washington* | &nbsp;&nbsp; *1392662* |
| *West Virginia — 0.1%* | *West Virginia — 0.1%* | *West Virginia — 0.1%* | *West Virginia — 0.1%* | *West Virginia — 0.1%* |
| &nbsp;&nbsp;&nbsp; West Virginia State EDA Revenue, Solid Waste Disposal Facility, Commercial <br> Metals Co. Project | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 5/15/32 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; *153499*<br> <sup>(a)(b)(c)</sup><br>|
| *Wisconsin — 1.6%* | *Wisconsin — 1.6%* | *Wisconsin — 1.6%* | *Wisconsin — 1.6%* | *Wisconsin — 1.6%* |
| &nbsp;&nbsp;&nbsp; Public Finance Authority, WI, Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cone Health, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/52 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 303025<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Carmelite System Inc. Obligated Group, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/45 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 100355<br>|
| &nbsp;&nbsp;&nbsp; Public Finance Authority, WI, Student Housing Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appalachian State University Project, Series A, AG | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/45 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; 558382<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHF Wilmington LLC, University of North Carolina at Wilmington Project, AG | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/53 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1000007<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; University of Hawai'i Foundation Project, Green Bonds, Series A-1  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/51 | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp; 208646<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wisconsin State HEFA Revenue, Bellin Memorial Hospital Inc., Series A  | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 12/1/52 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 266180<br>|
| *Total Wisconsin* | *Total Wisconsin* | *Total Wisconsin* | *Total Wisconsin* | &nbsp;&nbsp; *2436595* |
| **Total Municipal Bonds (Cost — $143,812,676)** | **Total Municipal Bonds (Cost — $143,812,676)** | **Total Municipal Bonds (Cost — $143,812,676)** | **Total Municipal Bonds (Cost — $143,812,676)** | &nbsp;&nbsp; **143988730** |

---

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **Western Asset Municipal High Income Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| **Municipal Bonds Deposited in Tender Option Bond Trusts**<sup>(i)</sup> **— 3.3%** | **Municipal Bonds Deposited in Tender Option Bond Trusts**<sup>(i)</sup> **— 3.3%** | **Municipal Bonds Deposited in Tender Option Bond Trusts**<sup>(i)</sup> **— 3.3%** | **Municipal Bonds Deposited in Tender Option Bond Trusts**<sup>(i)</sup> **— 3.3%** | **Municipal Bonds Deposited in Tender Option Bond Trusts**<sup>(i)</sup> **— 3.3%** |
| *New York — 3.3%* | *New York — 3.3%* | *New York — 3.3%* | *New York — 3.3%* | *New York — 3.3%* |
| &nbsp;&nbsp;&nbsp; New York City, NY, Municipal Water Finance Authority, Water & Sewer System <br> Revenue, Second General Resolution Fiscal 2023, Subseries AA-1  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/15/52 | &nbsp;&nbsp; $1440000 | &nbsp;&nbsp;&nbsp; $1512776<br>|
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority, State Personal Income Tax Revenue, <br> General Purpose Bonds, Series A  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/15/45 | &nbsp;&nbsp; 1740000 | &nbsp;&nbsp;&nbsp; 1664667<br>|
| &nbsp;&nbsp;&nbsp; New York State Urban Development State Sales Revenue, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/15/47 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp; 1877605<br>|
| **Total Municipal Bonds Deposited in Tender Option Bond Trusts (Cost — $5,064,831)** | **Total Municipal Bonds Deposited in Tender Option Bond Trusts (Cost — $5,064,831)** | **Total Municipal Bonds Deposited in Tender Option Bond Trusts (Cost — $5,064,831)** | **Total Municipal Bonds Deposited in Tender Option Bond Trusts (Cost — $5,064,831)** | &nbsp;&nbsp; **5055048** |
| **Total Investments before Short-Term Investments (Cost — $148,877,507)** | **Total Investments before Short-Term Investments (Cost — $148,877,507)** | **Total Investments before Short-Term Investments (Cost — $148,877,507)** | **Total Investments before Short-Term Investments (Cost — $148,877,507)** | &nbsp;&nbsp; **149043778** |
| **Short-Term Investments — 4.2%** | **Short-Term Investments — 4.2%** | **Short-Term Investments — 4.2%** | **Short-Term Investments — 4.2%** | **Short-Term Investments — 4.2%** |
| **Municipal Bonds — 4.2%** | **Municipal Bonds — 4.2%** | **Municipal Bonds — 4.2%** | **Municipal Bonds — 4.2%** | **Municipal Bonds — 4.2%** |
| *California — 0.1%* | *California — 0.1%* | *California — 0.1%* | *California — 0.1%* | *California — 0.1%* |
| &nbsp;&nbsp;&nbsp; University of California, CA, General Revenue, Series AL-2, Refunding | &nbsp;&nbsp; 1.300% | &nbsp;&nbsp; 5/15/48 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; *200000*<br> <sup>(j)(k)</sup><br>|
| *Florida — 0.1%* | *Florida — 0.1%* | *Florida — 0.1%* | *Florida — 0.1%* | *Florida — 0.1%* |
| &nbsp;&nbsp;&nbsp; Gainesville, FL, IDR, Gainesville Hillel Inc., Series 2003, LOC - TD Bank N.A. | &nbsp;&nbsp; 2.350% | &nbsp;&nbsp; 5/1/33 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; *200000*<br> <sup>(j)(k)</sup><br>|
| *Illinois — 0.1%* | *Illinois — 0.1%* | *Illinois — 0.1%* | *Illinois — 0.1%* | *Illinois — 0.1%* |
| &nbsp;&nbsp;&nbsp; Illinois State Finance Authority Revenue, University of Chicago Medical Center, <br> Series A, LOC - TD Bank N.A. | &nbsp;&nbsp; 3.150% | &nbsp;&nbsp; 8/1/44 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; *100000*<br> <sup>(j)(k)</sup><br>|
| *Indiana — 0.6%* | *Indiana — 0.6%* | *Indiana — 0.6%* | *Indiana — 0.6%* | *Indiana — 0.6%* |
| &nbsp;&nbsp;&nbsp; Indiana State Finance Authority Environmental Facilities Revenue, Series A-5, <br> Refunding, LOC - Sumitomo Mitsui Banking  | &nbsp;&nbsp; 2.000% | &nbsp;&nbsp; 10/1/40 | &nbsp;&nbsp; 620000 | &nbsp;&nbsp;&nbsp; 620000<br> <sup>(j)(k)</sup><br>|
| &nbsp;&nbsp;&nbsp; Indiana State Finance Authority Hospital Revenue, Parkview Health System <br> Obligated Group, Series D, Refunding, LOC - TD Bank N.A.  | &nbsp;&nbsp; 1.900% | &nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 300000<br> <sup>(j)(k)</sup><br>|
| *Total Indiana* | *Total Indiana* | *Total Indiana* | *Total Indiana* | &nbsp;&nbsp; *920000* |
| *Massachusetts — 0.3%* | *Massachusetts — 0.3%* | *Massachusetts — 0.3%* | *Massachusetts — 0.3%* | *Massachusetts — 0.3%* |
| &nbsp;&nbsp;&nbsp; Massachusetts State DFA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boston University Issue, Series U-6E, Refunding, LOC - TD Bank N.A. | &nbsp;&nbsp; 3.200% | &nbsp;&nbsp; 10/1/42 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 100000<br> <sup>(j)(k)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boston University, Series U-6C, Refunding, LOC - TD Bank N.A. | &nbsp;&nbsp; 3.150% | &nbsp;&nbsp; 10/1/42 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 200000<br> <sup>(j)(k)</sup><br>|
| &nbsp;&nbsp;&nbsp; Massachusetts State HEFA Revenue, Partners Healthcare System Inc., Series <br> P-2, SPA - JPMorgan Chase & Co.  | &nbsp;&nbsp; 1.750% | &nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 100000<br> <sup>(j)(k)</sup><br>|
| *Total Massachusetts* | *Total Massachusetts* | *Total Massachusetts* | *Total Massachusetts* | &nbsp;&nbsp; *400000* |
| *Michigan — 0.1%* | *Michigan — 0.1%* | *Michigan — 0.1%* | *Michigan — 0.1%* | *Michigan — 0.1%* |
| &nbsp;&nbsp;&nbsp; Grand Valley State University, MI, General Revenue, Series B, Refunding, LOC - <br> TD Bank N.A. | &nbsp;&nbsp; 2.280% | &nbsp;&nbsp; 12/1/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; *100000*<br> <sup>(j)(k)</sup><br>|
| *Mississippi — 0.4%* | *Mississippi — 0.4%* | *Mississippi — 0.4%* | *Mississippi — 0.4%* | *Mississippi — 0.4%* |
| &nbsp;&nbsp;&nbsp; Mississippi State Business Finance Corp., Gulf Opportunity Zone, IDR, Chevron <br> USA Inc. Project, Series E | &nbsp;&nbsp; 1.950% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; *600000*<br> <sup>(j)(k)</sup><br>|
| *Oregon — 2.2%* | *Oregon — 2.2%* | *Oregon — 2.2%* | *Oregon — 2.2%* | *Oregon — 2.2%* |
| &nbsp;&nbsp;&nbsp; Oregon State Facilities Authority Revenue, Peacehealth, Series B, Refunding, <br> LOC - TD Bank N.A. | &nbsp;&nbsp; 1.900% | &nbsp;&nbsp; 8/1/34 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp;&nbsp;&nbsp; *3400000*<br> <sup>(j)(k)</sup><br>|
| *Texas — 0.1%* | *Texas — 0.1%* | *Texas — 0.1%* | *Texas — 0.1%* | *Texas — 0.1%* |
| &nbsp;&nbsp;&nbsp; Houston, TX, Combined Utility System Revenue, First Lien, Series B-4, Refunding, <br> SPA - JPMorgan Chase & Co. | &nbsp;&nbsp; 2.290% | &nbsp;&nbsp; 5/15/34 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; *100000*<br> <sup>(j)(k)</sup><br>|
| *Wisconsin — 0.2%* | *Wisconsin — 0.2%* | *Wisconsin — 0.2%* | *Wisconsin — 0.2%* | *Wisconsin — 0.2%* |
| &nbsp;&nbsp;&nbsp; University of Wisconsin Hospitals & Clinics Authority Revenue, Series B, <br> Refunding, SPA - JPMorgan Chase & Co. | &nbsp;&nbsp; 1.900% | &nbsp;&nbsp; 4/1/48 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; *400000*<br> <sup>(j)(k)</sup><br>|
| **Total Municipal Bonds (Cost — $6,420,000)** | **Total Municipal Bonds (Cost — $6,420,000)** | **Total Municipal Bonds (Cost — $6,420,000)** | **Total Municipal Bonds (Cost — $6,420,000)** | &nbsp;&nbsp; **6420000** |

---

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

 **Western Asset Municipal High Income Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| Security | Rate | Shares | Value |
| **Money Market Funds — 0.0%††** | **Money Market Funds — 0.0%††** | **Money Market Funds — 0.0%††** | **Money Market Funds — 0.0%††** |
| &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional Government Reserves, Premium Shares <br> (Cost — $62,089)  | &nbsp;&nbsp; 3.639% | &nbsp;&nbsp; 62089<br>| &nbsp;&nbsp;&nbsp;&nbsp; **$62089**<br> <sup>(l)(m)</sup><br>|
| **Total Short-Term Investments (Cost — $6,482,089)** | **Total Short-Term Investments (Cost — $6,482,089)** | **Total Short-Term Investments (Cost — $6,482,089)** | &nbsp;&nbsp; **6482089** |
| **Total Investments — 100.6% (Cost — $155,359,596)** | **Total Investments — 100.6% (Cost — $155,359,596)** | **Total Investments — 100.6% (Cost — $155,359,596)** | &nbsp;&nbsp; **155525867** |
| &nbsp;&nbsp;&nbsp; TOB Floating Rate Notes — (1.8)% | &nbsp;&nbsp;&nbsp; TOB Floating Rate Notes — (1.8)% | &nbsp;&nbsp;&nbsp; TOB Floating Rate Notes — (1.8)% | &nbsp;&nbsp;&nbsp; (2730000)<br>|
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Other Liabilities — 1.2% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Other Liabilities — 1.2% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Other Liabilities — 1.2% | &nbsp;&nbsp;&nbsp; 1839121 |
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$154634988** |

---

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

---

| | |
|:---|:---|
| †† | Represents less than 0.1%. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Maturity date shown represents the mandatory tender date. |
| <sup>(b)</sup> | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published <br> reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a <br> reference rate and spread in their description above.<br>|
| <sup>(c)</sup> | Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax ("AMT"). |
| <sup>(d)</sup> | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from <br> registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.<br>|
| <sup>(e)</sup> | The coupon payment on this security is currently in default as of January 31, 2026. |
| <sup>(f)</sup> | Security is fair valued in accordance with procedures approved by the Board of Directors (Note 1). |
| <sup>(g)</sup> | Security is valued using significant unobservable inputs (Note 1). |
| <sup>(h)</sup> | Pre-Refunded bonds are generally escrowed with U.S. government obligations and/or U.S. government agency securities. |
| <sup>(i)</sup> | Represents securities deposited into a special purpose entity, referred to as a Tender Option Bond ("TOB") trust.. |
| <sup>(j)</sup> | Variable rate demand obligations ("VRDOs") have a demand feature under which the Fund can tender them back to the issuer or liquidity provider on no <br> more than 7 days notice. The interest rate generally resets on a daily or weekly basis and is determined on the specific interest rate reset date by the <br> remarketing agent, pursuant to a formula specified in official documents for the VRDO, or set at the highest rate allowable as specified in official <br> documents for the VRDO. VRDOs are benchmarked to the Securities Industry and Financial Markets Association ("SIFMA") Municipal Swap Index. The <br> SIFMA Municipal Swap Index is compiled from weekly interest rate resets of tax-exempt VRDOs reported to the Municipal Securities Rulemaking Board's <br> Short-term Obligation Rate Transparency System.<br>|
| <sup>(k)</sup> | Maturity date shown is the final maturity date. The security may be sold back to the issuer before final maturity. |
| <sup>(l)</sup> | Rate shown is one-day yield as of the end of the reporting period.  |
| <sup>(m)</sup> | In this instance, as defined in the Investment Company Act of 1940, an "Affiliated Company" represents Fund ownership of at least 5% of the outstanding <br> voting securities of an issuer, or a company which is under common ownership or control with the Fund. At January 31, 2026, the total market value of <br> investments in Affiliated Companies was $62,089 and the cost was $62,089 (Note 2).<br>|

---

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

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **Western Asset Municipal High Income Fund Inc.**

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| AG |  | Assured Guaranty — Insured Bonds |
| BAM |  | Build America Mutual — Insured Bonds |
| CAB |  | Capital Appreciation Bonds |
| CSCE |  | Charter School Credit Enhancement |
| CWA |  | Clean Water Act |
| DFA |  | Development Finance Agency |
| EDA |  | Economic Development Authority |
| EDC |  | Economic Development Corporation |
| EFA |  | Educational Facilities Authority |
| GO |  | General Obligation |
| GTD |  | Guaranteed |
| HDA |  | Housing Development Authority |
| HEFA |  | Health & Educational Facilities Authority |
| IDA |  | Industrial Development Authority |
| IDR |  | Industrial Development Revenue |
| LOC |  | Letter of Credit |
| MFA |  | Municipal Finance Authority |
| MTA |  | Metropolitan Transportation Authority |
| NATL |  | National Public Finance Guarantee Corporation — Insured Bonds |
| PCFA |  | Pollution Control Financing Authority |
| PEA |  | Public Energy Authority |
| PFA |  | Public Facilities Authority |
| SPA |  | Standby Bond Purchase Agreement — Insured Bonds |
| TFA |  | Transitional Finance Authority |

---

This Schedule of Investments is unaudited and is intended to provide information about the Fund's investments as of the date of the schedule. Other information regarding the Fund is available in the Fund's most recent annual or semi-annual shareholder report.

See Notes to Schedule of Investments.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

Western Asset Municipal High Income Fund Inc. (the "Fund") was incorporated in Maryland and is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"). The Fund seeks high current income exempt from federal income taxes. The Fund seeks to achieve its investment objective by investing primarily in intermediate and long-term municipal debt securities issued by state and local governments. However, the Fund may invest in municipal obligations of any maturity. The Fund may invest in municipal obligations rated below investment grade or unrated, if determined to be of equivalent quality, without limit. Investment grade securities are those rated in the Baa/BBB categories or above by at least one National Recognized Statistical Rating Organization that provides such a rating or unrated securities that the subadviser determined to be of comparable credit quality. For credit ratings purposes, pre-refunded bonds are deemed to be unrated. The subadviser determines the credit quality of pre-refunded bonds based on the quality of the escrowed collateral and such other factors as the subadviser deems appropriate.

The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies* ("ASC 946"). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles ("GAAP"), including, but not limited to, ASC 946.

**(a) Investment valuation.** The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund's Board of Directors (the "Board").

Pursuant to policies adopted by the Board, the Fund's manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund's manager is assisted by the Global Fund Valuation Committee (the "Valuation Committee"). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund's pricing policies, and reporting to the Fund's manager and the Board. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer's financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts' research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board quarterly.

------

Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

Notes to Schedule of Investments (unaudited) (cont'd)

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

• Level 1 — unadjusted quoted prices in active markets for identical investments

• Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 — significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used in valuing the Fund's assets carried at fair value: <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; $143988727 | &nbsp;&nbsp; $3 | &nbsp;&nbsp; $143988730 |
| &nbsp;&nbsp;&nbsp; Municipal Bonds Deposited in Tender Option Bond Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp; 5055048 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5055048 |
| Total Long-Term Investments | &nbsp;&nbsp; — | &nbsp;&nbsp; 149043775 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 149043778 |
| Short-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; 6420000 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6420000 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; $62089 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 62089 |
| Total Short-Term Investments | &nbsp;&nbsp; 62089 | &nbsp;&nbsp; 6420000 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6482089 |
| **Total Investments** | &nbsp;&nbsp; **$62089** | &nbsp;&nbsp; **$155463775** | &nbsp;&nbsp; **$3** | &nbsp;&nbsp; **$155525867** |

---

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

† See Schedule of Investments for additional detailed categorizations.

**2. Transactions with affiliated company**

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended January 31, 2026. The following transactions were effected in such company for the period ended January 31, 2026. <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>October 31, <br>2025 | Purchased | Purchased | Sold | Sold |
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>October 31, <br>2025 | Cost | Shares | Proceeds | Shares |
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium <br> Shares<br>| $39764 | $508437 | 508437 | $486112 | 486112 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| (cont'd) | Realized <br>Gain (Loss)<br>| Dividend <br>Income<br>| Net Increase <br>(Decrease) in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Affiliate <br>Value at <br>January 31, <br>2026<br>|
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium Shares<br>|  | $545 |  | $62089 |

---

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Western Asset Municipal High Income Fund Inc. 2026 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Western Asset Municipal High Income Fund Inc.

- **b. Investment Company Act file number:** 811-05497

- **c. CIK number of Registrant:** 0000830487

- **d. LEI of Registrant:** 549300V8S0EC6SV7H926

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

  - **Street Address 1:** One Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 1-888-777-0102

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

- **a. Name of Series:** Western Asset Municipal High Income Fund Inc.

- **c. LEI of Series:** 549300V8S0EC6SV7H926

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

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

- **b. Date as of which information is reported:** 2026-01-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $157591164.04

**Total Liabilities:** $2956173.91

**Net Assets:** $154634990.13

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 137.00000000 | **1-Year:** 3528.70000000 | **5-Year:** 19807.09000000 | **10-Year:** 72168.81000000 | **30-Year:** 9005.63000000

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

- **3-Month:** 56.40000000 | **1-Year:** 830.80000000 | **5-Year:** 1841.90000000 | **10-Year:** 6682.63000000 | **30-Year:** 430.86000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | -1.22%               | -0.23%               | 0.49%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $12174.52                | $-263008.38                                |
| Month 2  | $-21235.61               | $-289506.01                                |
| Month 3  | $-27389.04               | $693106.88                                 |

**Designated Index Information**

- **Index Name:** BBG POINT MUNI index

- **Index Identifier:** 7425

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ILLINOIS ST SPORTS FACS AUTH                            | Illinois Sports Facilities Authority/The                                     | CUSIP: 452143FN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $267022.30    | 0.17%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE                          | New Jersey Economic Development Authority                                    | CUSIP: 6459182D4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1501725.75   | 0.97%             | 2043-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SAINT LOUIS CNTY MO INDL DEV A                          | St Louis County Industrial Development Authority                             | CUSIP: 791524BU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001497.00   | 1.29%             | 2043-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                                              | City of Chicago IL                                                           | CUSIP: 167486E39<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150510.95    | 0.10%             | 2049-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $862774.26    | 0.56%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL PORT FACS REVE                          | County of Broward FL Port Facilities Revenue                                 | CUSIP: 11506KFK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2124971.25   | 1.37%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH                           | Orange County Health Facilities Authority                                    | CUSIP: 68450LJR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $192139.56    | 0.12%             | 2056-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI STUDENT HSG                          | Public Finance Authority                                                     | CUSIP: 74439YDQ1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    600000 | PA      | $558382.26    | 0.36%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE                          | California Municipal Finance Authority                                       | CUSIP: 13048VBY3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    700000 | PA      | $706730.85    | 0.46%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                          | Massachusetts Development Finance Agency                                     | CUSIP: 57584Y4T3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $491323.75    | 0.32%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IA TOB                          | Iowa Tobacco Settlement Authority                                            | CUSIP: 888805CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $126879.72    | 0.08%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP ECON                          | Maryland Economic Development Corp                                           | CUSIP: 57420NCU3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    400000 | PA      | $405120.52    | 0.26%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CO HIGH PERFORMANCE TRANSPRTN                           | Colorado High Performance Transportation Enterprise                          | CUSIP: 19648DAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $147677.93    | 0.10%             | 2051-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTHRN AK TOBACCO SECURITIZATIO                          | Northern Tobacco Securitization Corp                                         | CUSIP: 66585VBY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $208233.80    | 0.13%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                           | Metropolitan Transportation Authority                                        | CUSIP: 59261AJ99<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    250000 | PA      | $226797.93    | 0.15%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH SURFACE FREI                          | Illinois Finance Authority                                                   | CUSIP: 45203PAD6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    350000 | PA      | $364424.27    | 0.24%             | 2043-12-01      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                   | Chicago Board of Education                                                   | CUSIP: 167505VY9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1821847.48   | 1.18%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDLD                          | Philadelphia Authority for Industrial Development                            | CUSIP: 71783DBX2<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    500000 | PA      | $520756.85    | 0.34%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3020000 | PA      | $2917602.67   | 1.89%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST MUNI ENERGY ACQU                          | New Mexico Municipal Energy Acquisition Authority                            | CUSIP: 647207BL2<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |    400000 | PA      | $426761.68    | 0.28%             | 2054-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CA CORRIDOR TRANSPRTN                           | Alameda Corridor Transportation Authority                                    | CUSIP: 010869JS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $616718.64    | 0.40%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY OR HOSP FAC AUT                          | Clackamas County Hospital Facility Authority                                 | CUSIP: 179027WP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502805.95    | 0.33%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY AL INDL DEV AUTH S                          | Mobile County Industrial Development Authority                               | CUSIP: 60733UAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $232144.28    | 0.15%             | 2054-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116HU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $329823.13    | 0.21%             | 2054-12-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH                           | Parish of St John the Baptist LA                                             | CUSIP: 79020FBA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249518.63    | 0.16%             | 2037-06-01      | Variable      | 2.38%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS ND HLTH CARE SYS R                          | City of Grand Forks ND                                                       | CUSIP: 38546WDP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $454295.04    | 0.29%             | 2046-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CA CORRIDOR TRANSPRTN                           | Alameda Corridor Transportation Authority                                    | CUSIP: 010869GY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506771.00    | 0.33%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                           | Metropolitan Transportation Authority                                        | CUSIP: 59261AG68<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    400000 | PA      | $430578.96    | 0.28%             | 2045-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A                          | California Community Choice Financing Authority                              | CUSIP: 13013JEB8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    250000 | PA      | $265178.88    | 0.17%             | 2055-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH A                          | Metropolitan Washington Airports Authority Aviation Revenue                  | CUSIP: 592647MN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $659324.04    | 0.43%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX ARPT SYS REVENUE                              | City of Austin TX Airport System Revenue                                     | CUSIP: 052398GX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $626049.78    | 0.40%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY HSG AGY ESSEN                          | California Community Housing Agency                                          | CUSIP: 13013FAG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $390774.65    | 0.25%             | 2056-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C                          | Southeast Energy Authority A Cooperative District                            | CUSIP: 84136HCP6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1544233.04   | 1.00%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                          | Utah Charter School Finance Authority                                        | CUSIP: 91754TYA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $361793.25    | 0.23%             | 2039-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE                          | Port Authority of New York & New Jersey                                      | CUSIP: 73358W5S9<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $914613.50    | 0.59%             | 2045-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ANCHORAGE AK PORT REVENUE                               | Municipality of Anchorage AK                                                 | CUSIP: 033252AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252944.85    | 0.16%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L                          | New York Liberty Development Corp                                            | CUSIP: 649519FB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $557838.68    | 0.36%             | 2052-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| VILLAGE MET DIST CO                                     | Village Metropolitan District/The                                            | CUSIP: 92708CAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501411.85    | 0.32%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HONOLULU CITY & CNTY HI WSTWTR                          | City & County Honolulu HI Wastewater System Revenue                          | CUSIP: 438701J47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $315301.74    | 0.20%             | 2041-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY AL INDL DEV AUTH S                          | Mobile County Industrial Development Authority                               | CUSIP: 60733UAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $279473.49    | 0.18%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI STUDENT HSG                          | Public Finance Authority                                                     | CUSIP: 74439YBF7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000007.10   | 0.65%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL TRANSIT AUTH SALES                           | Chicago Transit Authority Sales Tax Receipts Fund                            | CUSIP: 16772PCB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510020.70    | 0.33%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE                            | New Hampshire Business Finance Authority                                     | CUSIP: 63607YBJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $353270.44    | 0.23%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A                          | Palm Beach County Health Facilities Authority                                | CUSIP: 69651ACD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1520427.94   | 0.98%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX SPL TAX REVENUE                            | City of Arlington TX Special Tax Revenue                                     | CUSIP: 04184RDD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500232.35    | 0.32%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTHRN AK TOBACCO SECURITIZATIO                          | Northern Tobacco Securitization Corp                                         | CUSIP: 66585VBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400102.40    | 0.26%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JQC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    172000 | PA      | $164249.10    | 0.11%             | 2027-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FL UTILITIES AUTH                           | Fort Pierce Utilities Authority                                              | CUSIP: 348430PV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $136482.83    | 0.09%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN                          | M-S-R Energy Authority                                                       | CUSIP: 55374SAJ9<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2485295.80   | 1.61%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX UTILITY SYS REVENUE                          | City of Houston TX Combined Utility System Revenue                           | CUSIP: 442435XP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.06%             | 2034-05-15      | Variable      | 2.29%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST UNIV                                        | Illinois State University                                                    | CUSIP: 452272B55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105162.22    | 0.07%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH EDU R                          | Industrial Development Authority of the City of Phoenix Arizona/The          | CUSIP: 71885FEK9<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1200210.24   | 0.78%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH                           | Parish of St John the Baptist LA                                             | CUSIP: 79020FBB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506153.95    | 0.33%             | 2037-06-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| OMAHA NE PUBLIC PWR DIST ELEC                           | Omaha Public Power District                                                  | CUSIP: 682001HC9<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |    500000 | PA      | $466995.90    | 0.30%             | 2046-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                          | Massachusetts Development Finance Agency                                     | CUSIP: 57583RWD3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.06%             | 2042-10-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116EX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $488647.35    | 0.32%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TX WHARVES & TERMINA                          | City of Galveston TX Wharves & Terminal Revenue                              | CUSIP: 364568JZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $812024.93    | 0.53%             | 2038-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HOSP REVEN                          | Indiana Finance Authority                                                    | CUSIP: 45471AAS1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.19%             | 2039-11-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499977.60    | 0.32%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                           | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250EW0<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    500000 | PA      | $486860.60    | 0.31%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116GN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $442811.32    | 0.29%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                              | Public Finance Authority                                                     | CUSIP: 74442PQV0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100354.59    | 0.06%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A                          | California Community Choice Financing Authority                              | CUSIP: 13013JFW1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    500000 | PA      | $548802.25    | 0.35%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL                           | New York City Transitional Finance Authority Future Tax Secured Revenue      | CUSIP: 64971XU71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2317408.20   | 1.50%             | 2047-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN                          | Virginia Small Business Financing Authority                                  | CUSIP: 928104PL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064652.60   | 0.69%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTA FE NM RETMNT FAC REVENUE                          | City of Santa Fe NM                                                          | CUSIP: 802170AQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $234317.83    | 0.15%             | 2049-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU DEDICATE                          | Chicago Board of Education Dedicated Capital Improvement Tax                 | CUSIP: 167510AU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009521.80   | 0.65%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GAINESVILLE FL INDL DEV REVENU                          | City of Gainesville FL                                                       | CUSIP: 362824AD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.13%             | 2033-05-01      | Variable      | 2.35%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 452152H20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    300000 | PA      | $306774.60    | 0.20%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                          | Rhode Island Health and Educational Building Corp                            | CUSIP: 762244PC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $205143.86    | 0.13%             | 2065-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH                          | Kentucky Public Energy Authority                                             | CUSIP: 74440DFN9<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    200000 | PA      | $212885.16    | 0.14%             | 2055-06-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                                              | City of Chicago IL                                                           | CUSIP: 167486P52<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    550000 | PA      | $586178.34    | 0.38%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE                            | Michigan Finance Authority                                                   | CUSIP: 59447TL92<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |     15000 | PA      | $14982.56     | 0.01%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARKSVILLE TN WTR SWR & GAS R                          | City of Clarksville TN Water Sewer & Gas Revenue                             | CUSIP: 182618PR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $458622.40    | 0.30%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                           | Philadelphia Authority for Industrial Development                            | CUSIP: 71780CAZ3<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    400000 | PA      | $401320.20    | 0.26%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $527462.04    | 0.34%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 452153AR0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1343968.13   | 0.87%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY                           | New York City Industrial Development Agency                                  | CUSIP: 64971PKL8<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |    300000 | PA      | $277893.03    | 0.18%             | 2045-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HLTH & EDUCTN                          | Massachusetts Health & Educational Facilities Authority                      | CUSIP: 57586EHU8<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.06%             | 2027-07-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116AQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300051.84    | 0.19%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                          | City of Salt Lake City UT Airport Revenue                                    | CUSIP: 795576MD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023774.60   | 0.66%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                   | Chicago Board of Education                                                   | CUSIP: 167505XQ4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1250447.88   | 0.81%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH MIDWESTERN DI                          | Indiana Finance Authority                                                    | CUSIP: 45470CAG4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    200000 | PA      | $207091.42    | 0.13%             | 2030-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Western Asset Premier Institutional Government Reserves | Western Asset Premier Institutional Government Reserves                      | CUSIP: 52470G494<br>LEI: 549300WB3XRN9YTWFB76 | Long             | STIV             | RF                | US        |     71961 | NS      | $71961.17     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A                          | California Community Choice Financing Authority                              | CUSIP: 13013JHJ8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    550000 | PA      | $611988.41    | 0.40%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP                           | Arlington Higher Education Finance Corp                                      | CUSIP: 041806HK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $199275.00    | 0.13%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH SENIOR                          | Tulsa County Industrial Authority                                            | CUSIP: 899530AY5<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508266.55    | 0.33%             | 2037-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SALT VERDE AZ FINANCIAL CORP S                          | Salt Verde Financial Corp                                                    | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1647428.85   | 1.07%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH GEN R                          | New York State Thruway Authority                                             | CUSIP: 650010CJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $696099.75    | 0.45%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 452152P96<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1198007.10   | 0.77%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN                          | Florida Development Finance Corp                                             | CUSIP: 34061UFW3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    650000 | PA      | $654110.73    | 0.42%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WSTWTR TRANSMISSION                          | City of Chicago IL Wastewater Transmission Revenue                           | CUSIP: 167727ZH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507762.05    | 0.33%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                             | City of New York NY                                                          | CUSIP: 64966QCU2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    750000 | PA      | $754626.23    | 0.49%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TROY NY CAPITAL RESOURCE CORP                           | Troy Capital Resource Corp                                                   | CUSIP: 897579BY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $495612.85    | 0.32%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N                          | Tobacco Settlement Financing Corp                                            | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149621.63    | 0.10%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE                            | Michigan Finance Authority                                                   | CUSIP: 59447TUJ0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    400000 | PA      | $355176.16    | 0.23%             | 2050-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE                             | Indiana Finance Authority                                                    | CUSIP: 45506EBU6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    500000 | PA      | $476703.20    | 0.31%             | 2041-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA                          | Main Street Natural Gas Inc                                                  | CUSIP: 56035DBV3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    150000 | PA      | $152337.60    | 0.10%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROOKHAVEN NY LOCAL DEV CORP R                          | Brookhaven Local Development Corp                                            | CUSIP: 113168BC1<br>LEI: 549300384JET720NAQ98 | Long             | DBT              | MUN               | US        |    735000 | PA      | $808043.64    | 0.52%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTHRN AK TOBACCO SECURITIZATIO                          | Northern Tobacco Securitization Corp                                         | CUSIP: 66585VCA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $174324.47    | 0.11%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                          | Colorado Health Facilities Authority                                         | CUSIP: 19648FZN7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    400000 | PA      | $399966.12    | 0.26%             | 2054-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN                          | Virginia Small Business Financing Authority                                  | CUSIP: 928104MU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $210658.62    | 0.14%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LA PAZ CNTY AZ INDL DEV AUTH E                          | La Paz County Industrial Development Authority                               | CUSIP: 50376FAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000617.50   | 0.65%             | 2036-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF GTR CINCINNATI DEV AUT                          | Port of Greater Cincinnati Development Authority                             | CUSIP: 734191BG3<br>LEI: 549300IK2RCZBY62ST97 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254962.58    | 0.16%             | 2060-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                           | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250CL6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    350000 | PA      | $342163.99    | 0.22%             | 2057-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER AZ INDL DEV AUTH INDL                          | Chandler Industrial Development Authority                                    | CUSIP: 158862CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $612228.42    | 0.40%             | 2049-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA INDL DEV AUTH                              | Lancaster Industrial Development Authority                                   | CUSIP: 514349CY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $482920.60    | 0.31%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI STUDENT HSG                          | Public Finance Authority                                                     | CUSIP: 74439YDW8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    280000 | PA      | $208645.95    | 0.13%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HOSP REVEN                          | Indiana Finance Authority                                                    | CUSIP: 45471ATD4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    200000 | PA      | $177705.84    | 0.11%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER AZ INDL DEV AUTH INDL                          | Chandler Industrial Development Authority                                    | CUSIP: 158862CD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253188.60    | 0.16%             | 2037-12-01      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP                           | Arlington Higher Education Finance Corp                                      | CUSIP: 041807PW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $455346.50    | 0.29%             | 2065-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN HOUSE CA PUBLIC FING                           | Mountain House Public Financing Authority                                    | CUSIP: 62412PBN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $719310.15    | 0.47%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                           | New Hope Cultural Education Facilities Finance Corp                          | CUSIP: 64542UFM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $339771.20    | 0.22%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VALPARAISO IN EXEMPT FACS REVE                          | City of Valparaiso IN                                                        | CUSIP: 92028RAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1081610.20   | 0.70%             | 2054-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH SP                          | New Jersey Economic Development Authority                                    | CUSIP: 64578CCE9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    650000 | PA      | $662220.46    | 0.43%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GEORGIA                               | Municipal Electric Authority of Georgia                                      | CUSIP: 6262075E0<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    250000 | PA      | $255986.58    | 0.17%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN                          | M-S-R Energy Authority                                                       | CUSIP: 55374SAF7<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1242647.90   | 0.80%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO                          | Utah Infrastructure Agency                                                   | CUSIP: 917467AT9<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    550000 | PA      | $564041.89    | 0.36%             | 2033-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $236760.15    | 0.15%             | 2045-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                   | Chicago Board of Education                                                   | CUSIP: 167505TK2<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $954737.50    | 0.62%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JRQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1380000 | PA      | $1382330.82   | 0.89%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH IN WSTWTR UTI                          | Indiana Finance Authority                                                    | CUSIP: 45505MPT7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1067940.40   | 0.69%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                              | City of Detroit MI                                                           | CUSIP: 2510936E5<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    700000 | PA      | $780191.37    | 0.50%             | 2043-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority         | New York City Municipal Water Finance Authority (TOBs)                       | CUSIP: 64972GB60<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1512776.16   | 0.98%             | 2052-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE                            | New Hampshire Business Finance Authority                                     | CUSIP: 63607YCX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $782212.64    | 0.51%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD TX ARPT MODERNIZATI                          | Love Field Airport Modernization Corp                                        | CUSIP: 54714CBM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20172.74     | 0.01%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                            | Illinois Finance Authority                                                   | CUSIP: 45200F6J3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.06%             | 2044-08-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH ACT 38 FA                          | Michigan Finance Authority                                                   | CUSIP: 59447NBD7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    250000 | PA      | $235742.43    | 0.15%             | 2054-02-28      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                           | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250EB6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1292508.63   | 0.84%             | 2042-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST PRIVATE ACTIVITY REVEN                          | State of Ohio                                                                | CUSIP: 67759YAQ0<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    700000 | PA      | $683861.08    | 0.44%             | 2053-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU                          | New Jersey Turnpike Authority                                                | CUSIP: 646140GC1<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    700000 | PA      | $758552.41    | 0.49%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN                          | Virginia Small Business Financing Authority                                  | CUSIP: 928104QJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500684.30    | 0.32%             | 2047-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GEORGIA                               | Municipal Electric Authority of Georgia                                      | CUSIP: 6262077J7<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    250000 | PA      | $247151.30    | 0.16%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU                          | Texas Private Activity Bond Surface Transportation Corp                      | CUSIP: 882667CK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $317474.97    | 0.21%             | 2041-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NAVAJO NATION AZ                                        | Navajo Nation                                                                | CUSIP: 639185AQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $190277.34    | 0.12%             | 2030-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GRAND VLY MI ST UNIV REVENUE                            | Grand Valley State University                                                | CUSIP: 386545HC4<br>LEI: 5493004492FRREYG5M95 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.06%             | 2031-12-01      | Variable      | 2.28%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST PUBLIC FACS AUTH                           | Louisiana Public Facilities Authority                                        | CUSIP: 54639TCG5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    700000 | PA      | $708073.73    | 0.46%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A                          | Washington Health Care Facilities Authority                                  | CUSIP: 93978HYD1<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    370000 | PA      | $367827.40    | 0.24%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                            | Ohio Air Quality Development Authority                                       | CUSIP: 677525XA0<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    140000 | PA      | $141272.21    | 0.09%             | 2028-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A                          | California Community Choice Financing Authority                              | CUSIP: 13013JEA0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1583866.80   | 1.02%             | 2055-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                          | Arizona Industrial Development Authority                                     | CUSIP: 04052BPS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $389437.55    | 0.25%             | 2051-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N RANGE CO MET DIST #2                                  | North Range Metropolitan District No 2                                       | CUSIP: 66176MAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500142.85    | 0.32%             | 2037-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PORT AUTH PORT FAC                          | Virginia Port Authority                                                      | CUSIP: 928077JM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252265.40    | 0.16%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A                          | Palm Beach County Health Facilities Authority                                | CUSIP: 696507UT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $324287.92    | 0.21%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE CDD NO 15 SPL ASSMNT R                          | Village Community Development District No 15                                 | CUSIP: 92708KAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $357712.18    | 0.23%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WTRWKS REVENUE                               | City of Chicago IL Waterworks Revenue                                        | CUSIP: 167736P43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1306174.97   | 0.84%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INLAND VLY CA DEV AGY SUCCESSO                          | Inland Valley Development Agency                                             | CUSIP: 45750TAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504684.85    | 0.33%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA CONVENTION C                          | Lancaster County Convention Center Authority                                 | CUSIP: 514042BE9<br>LEI: 549300F347A3TMO7B762 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499628.65    | 0.32%             | 2057-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 4521522M2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1167680.14   | 0.76%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                          | South Carolina Jobs-Economic Development Authority                           | CUSIP: 83703EMQ5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    400000 | PA      | $368957.88    | 0.24%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH                          | Kentucky Public Energy Authority                                             | CUSIP: 74440DGL2<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    900000 | PA      | $976466.25    | 0.63%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA REVENUES                             | University of California                                                     | CUSIP: 91412GSG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.13%             | 2048-05-15      | Variable      | 2.60%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX ARPT SYS REVENUE                              | City of Austin TX Airport System Revenue                                     | CUSIP: 052398HW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302495.43    | 0.20%             | 2052-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN                          | M-S-R Energy Authority                                                       | CUSIP: 55374SAH3<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2459473.40   | 1.59%             | 2034-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                          | Massachusetts Development Finance Agency                                     | CUSIP: 57583RWB7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.13%             | 2042-10-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R                          | State of Connecticut Special Tax Revenue                                     | CUSIP: 207758XR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $519411.10    | 0.34%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVER ISLANDS CA PUBLIC FING A                          | River Islands Public Financing Authority                                     | CUSIP: 76827QJZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $541676.68    | 0.35%             | 2053-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| RIVER ISLANDS CA PUBLIC FING A                          | River Islands Public Financing Authority                                     | CUSIP: 76827QGR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $315658.89    | 0.20%             | 2052-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp                           | Empire State Development Corp (TOBs)                                         | CUSIP: 64985TEP2<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1877604.30   | 1.21%             | 2047-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 452153AW9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $510131.60    | 0.33%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA                          | Chicago O'Hare International Airport                                         | CUSIP: 167593YL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503446.65    | 0.33%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PORT AUTH PORT FAC                          | Virginia Port Authority                                                      | CUSIP: 928077JN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302718.48    | 0.20%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA                          | Main Street Natural Gas Inc                                                  | CUSIP: 56035DFK3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    250000 | PA      | $265851.80    | 0.17%             | 2053-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A                          | California Community Choice Financing Authority                              | CUSIP: 13013JEP7<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1394728.92   | 0.90%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH ST                          | Tobacco Securitization Authority of Southern California                      | CUSIP: 888804CR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200238.12    | 0.13%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FUND LTD                          | Michigan Strategic Fund                                                      | CUSIP: 594698QT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251181.38    | 0.16%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S E ALABAMA ST GAS SPLY DIST G                          | Southeast Alabama Gas Supply District/The                                    | CUSIP: 84131TAZ5<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |    350000 | PA      | $375907.95    | 0.24%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116HV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $152381.90    | 0.10%             | 2054-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MISSION TX ECON DEV CORP SOL W                          | Mission Economic Development Corp                                            | CUSIP: 605155BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $155695.64    | 0.10%             | 2064-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV HOSPS & CLINICS AUTH WI                            | University of Wisconsin Hospitals & Clinics                                  | CUSIP: 915260CL5<br>LEI: 549300O76DW14JGO7224 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.26%             | 2048-04-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116HX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $99780.20     | 0.06%             | 2054-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 4521522N0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    550000 | PA      | $583063.86    | 0.38%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST                           | New Jersey Transportation Trust Fund Authority                               | CUSIP: 6461365N7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027665.40   | 0.66%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER AZ INDL DEV AUTH INDL                          | Chandler Industrial Development Authority                                    | CUSIP: 158862CC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $812103.36    | 0.53%             | 2035-12-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV                          | County of Miami-Dade Seaport Department                                      | CUSIP: 59335KFB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $760456.50    | 0.49%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DIRECTOR OF THE ST OF NEVADA D                          | State of Nevada Department of Business & Industry                            | CUSIP: 25490LAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300080.19    | 0.19%             | 2035-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 4521524T5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    400000 | PA      | $415205.16    | 0.27%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO                          | Mississippi Business Finance Corp                                            | CUSIP: 60528AAW4<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.39%             | 2030-12-01      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL PORT FACS REVE                          | County of Broward FL Port Facilities Revenue                                 | CUSIP: 11506KHB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040812.80   | 0.67%             | 2052-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A                          | Palm Beach County Health Facilities Authority                                | CUSIP: 69651ABZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $367681.16    | 0.24%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH ENVRNMNTL                           | Indiana Finance Authority                                                    | CUSIP: 455054AF3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    620000 | PA      | $620000.00    | 0.40%             | 2040-10-01      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT                           | Buckeye Tobacco Settlement Financing Authority                               | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $659069.44    | 0.43%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                            | Illinois Finance Authority                                                   | CUSIP: 45204FYS8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    250000 | PA      | $266129.73    | 0.17%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                           | Metropolitan Transportation Authority                                        | CUSIP: 59261AJ65<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    250000 | PA      | $279908.00    | 0.18%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI HLTHCARE SY                          | Public Finance Authority                                                     | CUSIP: 74447GAB6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    300000 | PA      | $303024.72    | 0.20%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST FACS AUTH REVENUE                             | Oregon State Facilities Authority                                            | CUSIP: 68608JXF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3400000.00   | 2.20%             | 2034-08-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC                          | Health & Educational Facilities Authority of the State of Missouri           | CUSIP: 60635H4A4<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    700000 | PA      | $724494.05    | 0.47%             | 2044-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN                          | California Public Finance Authority                                          | CUSIP: 13057GAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253848.03    | 0.16%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH                           | Parish of St John the Baptist LA                                             | CUSIP: 79020FAY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $398944.16    | 0.26%             | 2037-06-01      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST                           | New Jersey Transportation Trust Fund Authority                               | CUSIP: 64613CEX2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4383273.60   | 2.83%             | 2042-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C                          | Southeast Energy Authority A Cooperative District                            | CUSIP: 84136HBT9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    525000 | PA      | $555942.56    | 0.36%             | 2055-03-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CA CITY &CNTY AR                          | San Francisco City & County Airport Comm-San Francisco International Airport | CUSIP: 79766DRK7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002372.40   | 0.65%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA                          | Chicago O'Hare International Airport                                         | CUSIP: 1675932L5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $515738.65    | 0.33%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV                          | Build NYC Resource Corp                                                      | CUSIP: 12008ETL0<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    300000 | PA      | $296627.01    | 0.19%             | 2062-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST PUBLIC FACS AUTHL                          | Louisiana Public Facilities Authority                                        | CUSIP: 54639TCT7<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    500000 | PA      | $442654.95    | 0.29%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116CM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $774516.38    | 0.50%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A                          | Palm Beach County Health Facilities Authority                                | CUSIP: 696507VK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $91576.49     | 0.06%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                           | Pennsylvania Economic Development Financing Authority                        | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2627861.34   | 1.70%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DIRECTOR OF THE ST OF NEVADA D                          | State of Nevada Department of Business & Industry                            | CUSIP: 25490LAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $483213.45    | 0.31%             | 2045-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                          | Massachusetts Development Finance Agency                                     | CUSIP: 57584Y3V9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $532855.45    | 0.34%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST TURNPIKE AUT                          | North Carolina Turnpike Authority                                            | CUSIP: 65830UAC6<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500597.35    | 0.32%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUT                          | Allegheny County Hospital Development Authority                              | CUSIP: 01728A5C6<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |    350000 | PA      | $349319.04    | 0.23%             | 2039-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH                            | Cumberland County Municipal Authority                                        | CUSIP: 230614TE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135181.85    | 0.09%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL                          | Maryland Health & Higher Educational Facilities Authority                    | CUSIP: 57421CAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $292613.07    | 0.19%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                      | New York State Dormitory Authority (TOBs)                                    | CUSIP: 64990FYN8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1664667.57   | 1.08%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                           | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250DM3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    250000 | PA      | $249763.48    | 0.16%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES                          | New York State Dormitory Authority                                           | CUSIP: 65000BPS1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $454285.15    | 0.29%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                           | Pennsylvania Economic Development Financing Authority                        | CUSIP: 70868YAG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $629792.22    | 0.41%             | 2032-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST ECON DEV AUTH                          | West Virginia Economic Development Authority                                 | CUSIP: 95648VBV0<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |    150000 | PA      | $153499.47    | 0.10%             | 2055-04-15      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH                           | Orange County Health Facilities Authority                                    | CUSIP: 68450LHL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254041.13    | 0.16%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA                          | Wisconsin Health & Educational Facilities Authority                          | CUSIP: 97712JGT4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    250000 | PA      | $266180.38    | 0.17%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $318659.25    | 0.21%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GA                                    | Municipal Electric Authority of Georgia                                      | CUSIP: 62620HHP0<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    350000 | PA      | $360317.34    | 0.23%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                            | Ohio Air Quality Development Authority                                       | CUSIP: 677525WF0<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    350000 | PA      | $337391.22    | 0.22%             | 2042-11-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| OKALOOSA CNTY FL INDL DEV REVE                          | County of Okaloosa FL                                                        | CUSIP: 678226AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102339.69    | 0.07%             | 2045-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STHRN UTE INDIAN TRIBE OF STHR                          | Southern Ute Indian Tribe of the Southern Ute Reservation of Colorado        | CUSIP: 844090AD2<br>LEI: 549300X0RZRBWLO0J697 | Long             | DBT              | MUN               | US        |    300000 | PA      | $332187.42    | 0.21%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE                           | County of Jefferson AL Sewer Revenue                                         | CUSIP: 472682ZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2079312.80   | 1.34%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN                          | California Pollution Control Financing Authority                             | CUSIP: 13054WAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $723052.75    | 0.47%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE                           | County of Jefferson AL Sewer Revenue                                         | CUSIP: 472682ZQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1586502.90   | 1.03%             | 2045-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                          | State of Connecticut                                                         | CUSIP: 20772KGF0<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |    600000 | PA      | $613247.22    | 0.40%             | 2037-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL TRANSIT AUTH SALES                           | Chicago Transit Authority Sales Tax Receipts Fund                            | CUSIP: 16772PBT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000098.10   | 0.65%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50084.45     | 0.03%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL                           | Black Belt Energy Gas District                                               | CUSIP: 09182TCR6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    200000 | PA      | $212171.10    | 0.14%             | 2049-06-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CENTRL TX REGL MOBILITY AUTH R                          | Central Texas Regional Mobility Authority                                    | CUSIP: 155498LX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $443669.45    | 0.29%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP STUD                          | Maryland Economic Development Corp                                           | CUSIP: 57420VRN5<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    350000 | PA      | $305338.85    | 0.20%             | 2050-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WSTWTR TRANSMISSION                          | City of Chicago IL Wastewater Transmission Revenue                           | CUSIP: 167727YK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300413.19    | 0.19%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD TX ARPT MODERNIZATI                          | Love Field Airport Modernization Corp                                        | CUSIP: 54714CBJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20222.46     | 0.01%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE                            | New Hampshire Business Finance Authority                                     | CUSIP: 63607YCQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $963001.38    | 0.62%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                           | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250EX8<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $880539.50    | 0.57%             | 2047-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                            | Illinois Finance Authority                                                   | CUSIP: 45204FYV1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    250000 | PA      | $237401.48    | 0.15%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $424865.00    | 0.27%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEWARK HGR EDU FIN CORP TX EDU                          | Newark Higher Education Finance Corp                                         | CUSIP: 650346EA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $269174.47    | 0.17%             | 2056-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA REVENUE                              | Port of Seattle WA                                                           | CUSIP: 735389V70<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |    500000 | PA      | $533942.70    | 0.35%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSONC                          | Metropolitan Government Nashville & Davidson County Sports Authority         | CUSIP: 592090JZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $366744.07    | 0.24%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                          | Utah Charter School Finance Authority                                        | CUSIP: 91754TSB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250269.15    | 0.16%             | 2042-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE                           | County of Jefferson AL Sewer Revenue                                         | CUSIP: 472682ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049587.00   | 0.68%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH                          | Maricopa County Industrial Development Authority                             | CUSIP: 56681NEN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $474059.20    | 0.31%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A                          | Washington Health Care Facilities Authority                                  | CUSIP: 93978HVT9<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    535000 | PA      | $490891.93    | 0.32%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GA                                    | Municipal Electric Authority of Georgia                                      | CUSIP: 62620HHQ8<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    250000 | PA      | $257894.90    | 0.17%             | 2064-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REUNION E FL CDD SPL ASSMNT                             | Reunion East Community Development District                                  | CUSIP: 761311AL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $2.85         | 0.00%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  3 | On Loan: No      |
| REGL TRANSPRTN AUTH IL                                  | Regional Transportation Authority                                            | CUSIP: 759911XV7<br>LEI: 549300FOIPI62F5YFO59 | Long             | DBT              | MUN               | US        |    930000 | PA      | $990289.39    | 0.64%             | 2029-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH                          | Kentucky Public Energy Authority                                             | CUSIP: 74440DCZ5<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1511646.00   | 0.98%             | 2050-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A                          | California Community Choice Financing Authority                              | CUSIP: 13013JCB0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    500000 | PA      | $528968.20    | 0.34%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH EDU R                          | Industrial Development Authority of the City of Phoenix Arizona/The          | CUSIP: 71885FDN4<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000447.70   | 0.65%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116HA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3235094.53   | 2.09%             | 2060-06-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                          | Colorado Health Facilities Authority                                         | CUSIP: 19648FJJ4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250265.90    | 0.16%             | 2049-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L                          | New York Liberty Development Corp                                            | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1205032.05   | 0.78%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F                          | Tarrant County Cultural Education Facilities Finance Corp                    | CUSIP: 87638RKB2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    700000 | PA      | $710619.35    | 0.46%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-27

**Name of Applicant:** Western Asset Municipal High Income Fund Inc.

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer