# EDGAR Filing Document

**Accession Number:** 0001969995
**File Stem:** 0002071691-26-012296
**Filing Date:** 2026-5
**Character Count:** 93526
**Document Hash:** 7eac2f592ebfb2c190a0fd074b617075
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-012296.hdr.sgml**: 20260527

**ACCESSION NUMBER**: 0002071691-26-012296

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260527

**DATE AS OF CHANGE**: 20260527

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nomura ETF Trust
- **CENTRAL INDEX KEY:** 0001969995

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23890
- **FILM NUMBER:** 261025660

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106
- **BUSINESS PHONE:** (800) 523-1918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Macquarie ETF Trust
- **DATE OF NAME CHANGE:** 20230317

## Series and Classes Contracts Data

### Nomura National High-Yield Municipal Bond ETF (Series ID: S000090015)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000256891 | Nomura National High-Yield Municipal Bond ETF | HTAX            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Nomura ETF Trust

- **b. Investment Company Act file number:** 811-23890

- **c. CIK number of Registrant:** 0001969995

- **d. LEI of Registrant:** 2549000D4NFBOFE18T49

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

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106-2354

  - **Telephone number:** 800-523-1918

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

- **a. Name of Series:** Nomura National High-Yield Municipal Bond ETF

- **b. EDGAR series identifier (if any):** S000090015

- **c. LEI of Series:** 25490033F2LO9COHAM21

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $55449183.87

**Total Liabilities:** $1114945.65

**Net Assets:** $54334238.22

**Cash Not Reported:** $440548.34

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2093.87687800 | **1-Year:** 257.52783100 | **5-Year:** 3643.80606000 | **10-Year:** 11517.59557600 | **30-Year:** 9212.05274800

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

- **3-Month:** 0.00000000 | **1-Year:** 348.26987800 | **5-Year:** 615.92774300 | **10-Year:** 3399.95022300 | **30-Year:** 5781.02609500

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256891 | 0.97%                | 1.68%                | -2.09%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $27382.89                | $154370.48                                 |
| Month 2  | $1024.06                 | $645983.54                                 |
| Month 3  | $22306.63                | $-1404592.07                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Capital Trust Authority                                               | Capital Trust Authority, Series 2024A                                               | CUSIP: 14054YAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $354838.48    | 0.65%             | 2064-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Education                                            | Chicago Board of Education, Series 2017H                                            | CUSIP: 167505TK2<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    400000 | PA      | $365741.16    | 0.67%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                | California Municipal Finance Authority                                              | CUSIP: N/A<br>LEI: 5493000UQOV6R4ZWS346       | Long             | EC               | CORP              | US        |      1800 | NS      | $3150.00      | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                  | Colorado Educational & Cultural Facilities Authority, Series 2025A-1                | CUSIP: 19645UTS3<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    250000 | PA      | $261295.80    | 0.48%             | 2059-02-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Salt River Project Agricultural Improvement & Power District          | Salt River Project Agricultural Improvement & Power District, Series 2023B          | CUSIP: 79574CFR9<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |    500000 | PA      | $523389.25    | 0.96%             | 2053-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona (The) | Industrial Development Authority of the City of Phoenix Arizona (The), Series 2025A | CUSIP: 71885LAH7<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    250000 | PA      | $228802.58    | 0.42%             | 2060-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                  | New Hope Cultural Education Facilities Finance Corp., Series 2025A                  | CUSIP: 64542PGP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100118.97    | 0.18%             | 2045-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| City of Burbank                                                       | City of Burbank, Series 2026                                                        | CUSIP: 12083CAJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $134819.10    | 0.25%             | 2056-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                     | Florida Development Finance Corp., Series 2024                                      | CUSIP: 340618DU8<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    200000 | PA      | $149000.00    | 0.27%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                            | Illinois Finance Authority, Series 2026                                             | CUSIP: 45204FW92<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    400000 | PA      | $415868.84    | 0.77%             | 2056-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Kalispell MT                                                  | City of Kalispell, Series 2017A                                                     | CUSIP: 48342YAS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $354785.64    | 0.65%             | 2052-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                 | Duluth Economic Development Authority, Series 2021A                                 | CUSIP: 26444VAH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $129362.70    | 0.24%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                     | State of Illinois, Series 2024C                                                     | CUSIP: 452153MJ5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    300000 | PA      | $257966.85    | 0.47%             | 2048-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                   | California School Finance Authority, Series 2024A                                   | CUSIP: 130591BP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $225321.93    | 0.41%             | 2064-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| State of Ohio                                                         | State of Ohio, Series 2024A                                                         | CUSIP: 67756CGG7<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    235000 | PA      | $263474.93    | 0.48%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp.                                    | Tobacco Settlement Financing Corp., Series 2007B-1                                  | CUSIP: 88880NAU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $205907.30    | 0.38%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Kalispell                                                     | City of Kalispell, Series 2025A                                                     | CUSIP: 48343AAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201221.78    | 0.37%             | 2060-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                              | Build NYC Resource Corp., Series 2025A                                              | CUSIP: 12008EWW2<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    300000 | PA      | $276625.50    | 0.51%             | 2061-10-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                  | Triborough Bridge & Tunnel Authority, Series 2021C-3                                | CUSIP: 89602HBZ9<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    325000 | PA      | $238577.40    | 0.44%             | 2051-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                  | Guam Government Waterworks Authority, Series 2024A                                  | CUSIP: 40065FEG5<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    125000 | PA      | $127349.19    | 0.23%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                | Arkansas Development Finance Authority, Series 2022                                 | CUSIP: 04110FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252045.83    | 0.46%             | 2052-09-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                              | Arizona Industrial Development Authority, Series 2025A                              | CUSIP: 04052TDL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102856.19    | 0.19%             | 2055-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                 | Louisiana Public Facilities Authority, Series 2024                                  | CUSIP: 546399TA4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    750000 | PA      | $707741.70    | 1.30%             | 2066-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                              | Public Finance Authority, Series 2022A                                              | CUSIP: 74447DAD9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $472091.25    | 0.87%             | 2062-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                         | State of Ohio, Series 2024A                                                         | CUSIP: 67756CGF9<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |     15000 | PA      | $16986.45     | 0.03%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                   | California School Finance Authority, Series 2024A                                   | CUSIP: 13058TTQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $239915.33    | 0.44%             | 2044-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| City of Burbank                                                       | City of Burbank, Series 2026                                                        | CUSIP: 12083CAH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $105561.77    | 0.19%             | 2051-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                          | New York City Transitional Finance Authority, Series 2026B                          | CUSIP: 64972JXR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257071.95    | 0.47%             | 2051-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Local Government Finance Commission                           | Florida Local Government Finance Commission, Series 2026                            | CUSIP: 34077EAG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $241125.90    | 0.44%             | 2061-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri    | Health & Educational Facilities Authority of the State of Missouri, Series 2020     | CUSIP: 60637ARH7<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    250000 | PA      | $215900.73    | 0.40%             | 2053-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                        | Black Belt Energy Gas District, Series 2025G                                        | CUSIP: 09182TGM3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    750000 | PA      | $781845.45    | 1.44%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                | California Municipal Finance Authority, Series 2018A                                | CUSIP: 13048DCP1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300955.59    | 0.55%             | 2038-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Grand Rapids Economic Development Corp.                               | Grand Rapids Economic Development Corp., Series 2025A                               | CUSIP: 386246HJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $147965.15    | 0.27%             | 2050-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                              | Build NYC Resource Corp., Series 2026A                                              | CUSIP: 12008EXS0<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    150000 | PA      | $149553.59    | 0.28%             | 2065-12-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                     | Florida Development Finance Corp., Series 2022A                                     | CUSIP: 34061UKN7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    250000 | PA      | $198277.58    | 0.36%             | 2052-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                      | Maricopa County Industrial Development Authority, Series 2021A                      | CUSIP: 56681NGM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $138185.78    | 0.25%             | 2061-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                  | Colorado Health Facilities Authority, Series 2021A                                  | CUSIP: 19648FSJ4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    500000 | PA      | $358793.10    | 0.66%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago                                                       | City of Chicago, Series 2025A                                                       | CUSIP: 167486U72<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    150000 | PA      | $154989.83    | 0.29%             | 2050-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Newark Higher Education Finance Corp.                                 | Newark Higher Education Finance Corp., Series 2017A                                 | CUSIP: 650346DC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $181866.36    | 0.33%             | 2047-08-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                   | California School Finance Authority, Series 2024A                                   | CUSIP: 13058TUK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $219916.28    | 0.40%             | 2054-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp.                             | Golden State Tobacco Securitization Corp., Series 2021B-2                           | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $300647.40    | 0.55%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority                                    | Capital Projects Finance Authority, Series 2024A-1                                  | CUSIP: 140427CR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $175439.42    | 0.32%             | 2058-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Public Finance Authority                                              | Public Finance Authority, Series 2024A                                              | CUSIP: 74448EAA2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250348.70    | 0.46%             | 2041-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| New York Transportation Development Corp.                             | New York Transportation Development Corp., Series 2023                              | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259095.60    | 0.48%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                      | Maricopa County Industrial Development Authority, Series 2022                       | CUSIP: 56678TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $429957.20    | 0.79%             | 2047-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Creekwalk Marketplace Business Improvement District                   | Creekwalk Marketplace Business Improvement District, Series 2024A                   | CUSIP: 225515AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98981.10     | 0.18%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                      | Maricopa County Industrial Development Authority, Series 2022                       | CUSIP: 56681NGZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $188404.79    | 0.35%             | 2045-09-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Kalamazoo Economic Development Corp.                                  | Kalamazoo Economic Development Corp., Series 2026A                                  | CUSIP: 483228EH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $240481.70    | 0.44%             | 2061-08-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                              | Build NYC Resource Corp., Series 2026A                                              | CUSIP: 12008EYC4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    250000 | PA      | $237228.38    | 0.44%             | 2066-06-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Education                                            | Chicago Board of Education, Series 2025A                                            | CUSIP: 167505ZL3<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    150000 | PA      | $157192.86    | 0.29%             | 2050-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Oregon Health & Science University                                    | Oregon Health & Science University, Series 2021A                                    | CUSIP: 685869HG7<br>LEI: 549300XTWOAGON8L2G98 | Long             | DBT              | MUN               | US        |    255000 | PA      | $177591.51    | 0.33%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Sierra Vista Industrial Development Authority                         | Sierra Vista Industrial Development Authority, Series 2023                          | CUSIP: 82652UAG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $235983.70    | 0.43%             | 2058-06-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Public Finance Authority                                              | Public Finance Authority, Series 2025A                                              | CUSIP: 744396KS0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100034.36    | 0.18%             | 2065-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority                                | California Municipal Finance Authority, Series 2018A                                | CUSIP: 13048VBY3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $505235.75    | 0.93%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                              | Public Finance Authority, Series 2023-1, Class A                                    | CUSIP: 74448GAA7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    772829 | PA      | $794070.44    | 1.46%             | 2062-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Humble Independent School District                                    | Humble Independent School District, Series 2020                                     | CUSIP: 445047HR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $73716.24     | 0.14%             | 2049-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Apple Valley                                                  | City of Apple Valley, Series 2018                                                   | CUSIP: 03800RAR7<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    300000 | PA      | $298570.92    | 0.55%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                              | Metropolitan Pier & Exposition Authority, Series 2017B                              | CUSIP: 592250DB7<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $236471.70    | 0.44%             | 2054-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                | Oklahoma Development Finance Authority, Series 2018B                                | CUSIP: 67884XCK1<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |    400000 | PA      | $394540.44    | 0.73%             | 2052-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Delaware State Economic Development Authority                         | Delaware State Economic Development Authority, Series 2025A                         | CUSIP: 246372BH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201079.26    | 0.37%             | 2055-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority                                   | California School Finance Authority, Series 2023A                                   | CUSIP: 13058TRW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $164097.40    | 0.30%             | 2053-06-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Savannah Georgia Convention Center Authority                          | Savannah Georgia Convention Center Authority, Series 2025B                          | CUSIP: 804828AF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $247471.23    | 0.46%             | 2061-06-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Bexar County Health Facilities Development Corp.                      | Bexar County Health Facilities Development Corp., Series 2018                       | CUSIP: 088354GK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100362.72    | 0.18%             | 2037-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                      | City of New York, Series 2021F-1                                                    | CUSIP: 64966QVX5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    335000 | PA      | $237811.14    | 0.44%             | 2051-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp.                                | Clifton Higher Education Finance Corp., Series 2024A                                | CUSIP: 187145UR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $115004.98    | 0.21%             | 2054-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                           | Commonwealth of Puerto Rico                                                         | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   1014429 | PA      | $680935.18    | 1.25%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp.                            | Westchester County Local Development Corp., Series 2021A                            | CUSIP: 95737TET9<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    300000 | PA      | $284099.16    | 0.52%             | 2046-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                     | Oregon State Facilities Authority, Series 2025A-1                                   | CUSIP: 68608JB42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $213747.66    | 0.39%             | 2060-03-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                      | Maricopa County Industrial Development Authority, Series 2021A                      | CUSIP: 56678PBL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $208997.57    | 0.38%             | 2051-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                             | New York Transportation Development Corp., Series 2024                              | CUSIP: 650116HQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501100.85    | 0.92%             | 2060-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                  | Chicago O'Hare International Airport, Series 2026A                                  | CUSIP: 167591CK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $515808.40    | 0.95%             | 2061-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                  | Puerto Rico Electric Power Authority, Series XX                                     | CUSIP: 74526QVX7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    425000 | PA      | $282625.00    | 0.52%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Industrial Development Board of The City of Kingsport Tennessee (The) | Industrial Development Board of The City of Kingsport Tennessee (The), Series 2024  | CUSIP: 49644AAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $237992.28    | 0.44%             | 2054-12-01      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Florida Higher Educational Facilities Financing Authority             | Florida Higher Educational Facilities Financing Authority, Series 2025              | CUSIP: 42982GAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200878.96    | 0.37%             | 2055-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| California Educational Facilities Authority                           | California Educational Facilities Authority, Series V-1                             | CUSIP: 130179SD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $244033.26    | 0.45%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                    | Greater Orlando Aviation Authority, Series 2025                                     | CUSIP: 39227AAA0<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |    250000 | PA      | $261025.50    | 0.48%             | 2034-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Hotel Occupancy Tax & Special Revenue              | City of Houston, Series 2026C                                                       | CUSIP: 44237NMW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $537427.70    | 0.99%             | 2058-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                              | Build NYC Resource Corp., Series 2025                                               | CUSIP: 12008EWJ1<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250085.10    | 0.46%             | 2060-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                              | Massachusetts Development Finance Agency, Series 2021V                              | CUSIP: 57584YN54<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    160000 | PA      | $167089.74    | 0.31%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                           | San Diego County Regional Airport Authority, Series 2025B                           | CUSIP: 79739GTE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527819.60    | 0.97%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority                        | Washington Metropolitan Area Transit Authority, Series 2025A                        | CUSIP: 93878YEA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $525187.15    | 0.97%             | 2050-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                    | Greater Orlando Aviation Authority, Series 2025                                     | CUSIP: 39227AAD4<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |    300000 | PA      | $312772.14    | 0.58%             | 2037-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                              | Public Finance Authority, Series 2022                                               | CUSIP: 74442EKQ2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    160000 | PA      | $149080.58    | 0.27%             | 2062-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency, Inc.                                            | Capital Trust Agency, Inc., Series 2020A                                            | CUSIP: 14054CDF3<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    100000 | PA      | $90617.48     | 0.17%             | 2055-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Seminole County Industrial Development Authority                      | Seminole County Industrial Development Authority, Series 2019A                      | CUSIP: 81669TAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98420.58     | 0.18%             | 2039-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority                    | Montgomery County Industrial Development Authority, Series 2016                     | CUSIP: 613609D60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $143460.63    | 0.26%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                              | Public Finance Authority, Series 2024                                               | CUSIP: 744396JY9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    175000 | PA      | $172121.50    | 0.32%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Atlanta Development Authority (The)                                   | Atlanta Development Authority (The), Series 2024A-2                                 | CUSIP: 04780NMX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $306397.17    | 0.56%             | 2039-04-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Education                                            | Chicago Board of Education, Series 2012A                                            | CUSIP: 167505PL4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    470000 | PA      | $444534.51    | 0.82%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                             | Indiana Finance Authority, Series 2023A                                             | CUSIP: 45471FAF8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    350000 | PA      | $331948.44    | 0.61%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                              | Metropolitan Pier & Exposition Authority, Series 2017B                              | CUSIP: 592250DA9<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $212308.40    | 0.39%             | 2056-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Iowa Higher Education Loan Authority                                  | Iowa Higher Education Loan Authority, Series 2025                                   | CUSIP: 46247DBK2<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |    200000 | PA      | $206000.66    | 0.38%             | 2055-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                               | Capital Trust Authority, Series 2025A                                               | CUSIP: 14054WCK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100451.04    | 0.18%             | 2065-07-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                  | Pennsylvania Higher Educational Facilities Authority, Series 2024B-1                | CUSIP: 70917TRM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $108532.23    | 0.20%             | 2038-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                  | New Hope Cultural Education Facilities Finance Corp., Series 2025                   | CUSIP: 64542UHN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $204913.60    | 0.38%             | 2056-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Mobile County Industrial Development Authority                        | Mobile County Industrial Development Authority, Series 2024A                        | CUSIP: 60733UAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $286045.32    | 0.53%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No. 15                         | Village Community Development District No. 15, Series 2023                          | CUSIP: 92708KAE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $191123.79    | 0.35%             | 2054-05-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| New York Transportation Development Corp.                             | New York Transportation Development Corp., Series 2023                              | CUSIP: 650116HA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $248186.60    | 0.46%             | 2060-06-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                | California Statewide Communities Development Authority, Series 2016A                | CUSIP: 13080SMJ0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150132.63    | 0.28%             | 2041-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona (The) | Industrial Development Authority of the City of Phoenix Arizona (The), Series 2015A | CUSIP: 71885FDP9<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    250000 | PA      | $238354.60    | 0.44%             | 2045-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Indiana Finance Authority                                             | Indiana Finance Authority, Series 2025                                              | CUSIP: 45471FBK6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    150000 | PA      | $143070.42    | 0.26%             | 2060-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                              | Massachusetts Development Finance Agency, Series 2025A-1                            | CUSIP: 57563WAC2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    200000 | PA      | $194594.50    | 0.36%             | 2060-07-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp.              | Texas Private Activity Bond Surface Transportation Corp., Series 2019               | CUSIP: 882667AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $485068.50    | 0.89%             | 2058-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                     | Florida Development Finance Corp., Series 2024                                      | CUSIP: 340618DV6<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $485694.95    | 0.89%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Seminole County Industrial Development Authority                      | Seminole County Industrial Development Authority, Series 2019A                      | CUSIP: 81669TAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $138618.74    | 0.26%             | 2049-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority                                   | California Public Finance Authority, Series 2024A                                   | CUSIP: 13057GAQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $182012.44    | 0.33%             | 2059-06-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                   | Pennsylvania Housing Finance Agency, Series 2025-149A                               | CUSIP: 70879QV91<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    200000 | PA      | $201701.88    | 0.37%             | 2053-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                   | California School Finance Authority, Series 2024                                    | CUSIP: 13058TUW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $276555.09    | 0.51%             | 2064-07-01      | Fixed         | 5.60%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                  | Puerto Rico Electric Power Authority, Series WW                                     | CUSIP: 74526QVC3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    325000 | PA      | $216125.00    | 0.40%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                              | Arizona Industrial Development Authority, Series 2018A                              | CUSIP: 04052BHE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249984.65    | 0.46%             | 2048-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp.                                 | Puerto Rico Sales Tax Financing Corp., Series A-1                                   | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1250000 | PA      | $320404.13    | 0.59%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                              | Public Finance Authority, Series 2025                                               | CUSIP: 74448UAD0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    645000 | PA      | $658789.65    | 1.21%             | 2065-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                     | Oregon State Facilities Authority, Series 2018B                                     | CUSIP: 68608JXF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $715000.00    | 1.32%             | 2034-08-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority                                   | California Public Finance Authority, Series 2024A                                   | CUSIP: 13057GAP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $116779.48    | 0.21%             | 2054-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                  | New Hope Cultural Education Facilities Finance Corp., Series 2025A                  | CUSIP: 64542UHG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $127291.98    | 0.23%             | 2060-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                        | Buckeye Tobacco Settlement Financing Authority, Series 2020B-2, Class 2             | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $605625.00    | 1.11%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                     | Florida Development Finance Corp., Series 2024                                      | CUSIP: 340618DT1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |     60000 | PA      | $44700.00     | 0.08%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Woodbury                                                      | City of Woodbury, Series 2025                                                       | CUSIP: 979134BA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $91192.10     | 0.17%             | 2063-06-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| George L Smith II Congress Center Authority                           | George L Smith II Congress Center Authority, Series 2021A                           | CUSIP: 37255MAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $375051.72    | 0.69%             | 2054-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Denver Health & Hospital Authority                                    | Denver Health & Hospital Authority, Series 2018                                     | CUSIP: 24918TAR8<br>LEI: 549300WFV5S7GIR4OS67 | Long             | DBT              | MUN               | US        |    375000 | PA      | $367991.89    | 0.68%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority             | Maryland Health & Higher Educational Facilities Authority, Series 2008D             | CUSIP: 574217V28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $700000.00    | 1.29%             | 2041-07-01      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                           | Washington State Housing Finance Commission, Series 2025A                           | CUSIP: 939783Y26<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    125000 | PA      | $124187.45    | 0.23%             | 2060-07-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Capital Projects Finance Authority                                    | Capital Projects Finance Authority, Series 2025A                                    | CUSIP: 14043HAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102599.96    | 0.19%             | 2065-01-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                      | Maricopa County Industrial Development Authority, Series 2016                       | CUSIP: 56681NAT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $154896.91    | 0.29%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GDB Debt Recovery Authority of Puerto Rico                            | GDB Debt Recovery Authority of Puerto Rico                                          | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    988801 | PA      | $969976.40    | 1.79%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                       | California Community Choice Financing Authority, Series 2021B-1                     | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    350000 | PA      | $349499.68    | 0.64%             | 2052-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado State University Research Foundation                         | Colorado State University Research Foundation, Series 2025A                         | CUSIP: 22945UAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $291953.40    | 0.54%             | 2065-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| City of Valparaiso                                                    | City of Valparaiso, Series 2024                                                     | CUSIP: 92028RAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $404577.22    | 0.74%             | 2054-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| City of Otsego                                                        | City of Otsego, Series 2014A                                                        | CUSIP: 689149AC6<br>LEI: 549300C7IZXQ4JXHZS47 | Long             | DBT              | MUN               | US        |    250000 | PA      | $221879.78    | 0.41%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mobile County Industrial Development Authority                        | Mobile County Industrial Development Authority, Series 2024B                        | CUSIP: 60733UAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $404501.99    | 0.74%             | 2054-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                     | Philadelphia Authority for Industrial Development, Series 2017                      | CUSIP: 71781XHG1<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    110000 | PA      | $106745.34    | 0.20%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona (The) | Industrial Development Authority of the City of Phoenix Arizona (The), Series 2019A | CUSIP: 71885DEH1<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    330000 | PA      | $301579.05    | 0.56%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lakes Area Economic Development Authority                             | Lakes Area Economic Development Authority, Series 2026A                             | CUSIP: 512060AD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $243525.93    | 0.45%             | 2062-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| County of Cuyahoga                                                    | County of Cuyahoga, Series 2017                                                     | CUSIP: 2322655T1<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |    100000 | PA      | $90592.53     | 0.17%             | 2052-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                  | Pennsylvania Higher Educational Facilities Authority, Series 2025                   | CUSIP: 70917TTU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $371862.93    | 0.68%             | 2055-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                               | Capital Trust Authority, Series 2026A                                               | CUSIP: 14055AAG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $296107.95    | 0.54%             | 2055-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                       | New York City Municipal Water Finance Authority, Series 2022AA-1                    | CUSIP: 64972GZE7<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    160000 | PA      | $134221.95    | 0.25%             | 2048-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                           | Virginia Small Business Financing Authority, Series 2022                            | CUSIP: 928104PW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $227451.83    | 0.42%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                   | Wisconsin Health & Educational Facilities Authority, Series 2026                    | CUSIP: 97712JSC8<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    250000 | PA      | $247626.03    | 0.46%             | 2061-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                | Arkansas Development Finance Authority, Series 2023                                 | CUSIP: 04110FAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $305759.82    | 0.56%             | 2053-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Academy of Warren                                                     | Academy of Warren, Series 2020A                                                     | CUSIP: 93466RAH5<br>LEI: 5493008UDWQ0IPXN1T25 | Long             | DBT              | MUN               | US        |    250000 | PA      | $225935.68    | 0.42%             | 2050-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Black Desert Public Infrastructure District                           | Black Desert Public Infrastructure District, Series 2024                            | CUSIP: 09204TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150165.21    | 0.28%             | 2053-12-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| West Virginia Hospital Finance Authority                              | West Virginia Hospital Finance Authority, Series 2025A                              | CUSIP: 956622Y81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $156877.22    | 0.29%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Hotel Occupancy Tax & Special Revenue              | City of Houston, Series 2026C                                                       | CUSIP: 44237NMS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $41136.73     | 0.08%             | 2049-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Valparaiso                                                    | City of Valparaiso, Series 2024                                                     | CUSIP: 92028RAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502998.50    | 0.93%             | 2044-01-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                  | New Hope Cultural Education Facilities Finance Corp., Series 2021A-1                | CUSIP: 64542PGC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $226659.38    | 0.42%             | 2057-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Development Co.                                | Puerto Rico Industrial Development Co., Series 2023                                 | CUSIP: 745211LM2<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    350000 | PA      | $335563.66    | 0.62%             | 2054-01-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No. 15                         | Village Community Development District No. 15, Series 2024                          | CUSIP: 92708KAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $465929.60    | 0.86%             | 2055-05-01      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                           | Washington State Housing Finance Commission, Series 2025A                           | CUSIP: 93978LJQ0<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99480.47     | 0.18%             | 2064-07-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| City of Houston                                                       | City of Houston, Series 2021B-1                                                     | CUSIP: 442349GA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $318757.99    | 0.59%             | 2041-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                            | Stamford Housing Authority, Series 2025A                                            | CUSIP: 852640AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98728.14     | 0.18%             | 2060-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                               | Capital Trust Authority, Series 2025A                                               | CUSIP: 14054WBX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $94155.18     | 0.17%             | 2065-07-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp.                                 | Puerto Rico Sales Tax Financing Corp., Series A-1                                   | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1250000 | PA      | $440196.25    | 0.81%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Aerotropolis Regional Transportation Authority                        | Aerotropolis Regional Transportation Authority, Series 2024                         | CUSIP: 008051AD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509239.75    | 0.94%             | 2044-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                              | Metropolitan Pier & Exposition Authority, Series 2020A                              | CUSIP: 592250DN1<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    400000 | PA      | $357396.88    | 0.66%             | 2050-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                 | Louisiana Public Facilities Authority, Series 2025                                  | CUSIP: 546399UT1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101373.93    | 0.19%             | 2059-06-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Public Finance Authority                                              | Public Finance Authority, Series 2022A                                              | CUSIP: 74442EJX9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $87260.72     | 0.16%             | 2052-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| County of Palm Beach                                                  | County of Palm Beach, Series 2025A                                                  | CUSIP: 696547HV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $308147.25    | 0.57%             | 2045-10-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| City of Los Angeles                                                   | City of Los Angeles, Series 2021D                                                   | CUSIP: 544445VD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $87587.86     | 0.16%             | 2051-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp.                                 | Puerto Rico Sales Tax Financing Corp., Series A-1                                   | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1050000 | PA      | $999731.25    | 1.84%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                            | Chicago Board of Education, Series 2025C                                            | CUSIP: 167505D29<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499190.25    | 0.92%             | 2045-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| High Star Ranch Infrastructure Financing District                     | High Star Ranch Infrastructure Financing District, Series 2026                      | CUSIP: 42980KAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250028.40    | 0.46%             | 2055-12-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| State of Illinois                                                     | State of Illinois, Series 2023C                                                     | CUSIP: 452153HQ5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    165000 | PA      | $168628.40    | 0.31%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                      | California Pollution Control Financing Authority, Series 2019                       | CUSIP: 13054WAQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507005.25    | 0.93%             | 2045-11-21      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                  | Colorado Health Facilities Authority, Series 2018A                                  | CUSIP: 19648FGQ1<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    165000 | PA      | $145307.40    | 0.27%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Bethel                                                        | City of Bethel, Series 2024                                                         | CUSIP: 086759AY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $341652.04    | 0.63%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County Public Hospital District No. 4                            | King County Public Hospital District No. 4, Series 2025A                            | CUSIP: 494796AH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150488.69    | 0.28%             | 2060-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Agricultural & Economic Development Board                   | Minnesota Agricultural & Economic Development Board, Series 2024                    | CUSIP: 6049203E6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510706.90    | 0.94%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Clackamas County Hospital Facility Authority                          | Clackamas County Hospital Facility Authority, Series 2020A                          | CUSIP: 179027YN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $97653.92     | 0.18%             | 2055-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Miami-Dade County Industrial Development Authority                    | Miami-Dade County Industrial Development Authority, Series 2022A                    | CUSIP: 59334GAN7<br>LEI: 549300RM19LZY32DAU30 | Long             | DBT              | MUN               | US        |    250000 | PA      | $224987.65    | 0.41%             | 2061-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                | Oklahoma Development Finance Authority, Series 2018B                                | CUSIP: 67884XCH8<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |    100000 | PA      | $97425.44     | 0.18%             | 2048-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                 | Louisiana Public Facilities Authority, Series 2020A                                 | CUSIP: 546399KR6<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    250000 | PA      | $180621.43    | 0.33%             | 2047-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Wyandotte County-Kansas City Unified Government                       | Wyandotte County-Kansas City Unified Government, Series 2026                        | CUSIP: 98267VDQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $245891.48    | 0.45%             | 2046-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Public Finance Authority                                              | Public Finance Authority, Series 2025                                               | CUSIP: 74448UAC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $545990.90    | 1.00%             | 2065-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                | California Statewide Communities Development Authority, Series 2016A                | CUSIP: 13080SMK7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400021.52    | 0.74%             | 2046-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                              | Arizona Industrial Development Authority, Series 2017A                              | CUSIP: 04052BDB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $46369.60     | 0.09%             | 2052-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Virginia Commonwealth University Health System Authority              | Virginia Commonwealth University Health System Authority, Series 2024B              | CUSIP: 92778LDL1<br>LEI: 07ROV40HIZGU2Q6OXJ58 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 1.84%             | 2037-07-01      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| Berks County Industrial Development Authority                         | Berks County Industrial Development Authority, Series 2017C                         | CUSIP: 08452RAK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $146612.36    | 0.27%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                              | Arizona Industrial Development Authority, Series 2025A-2                            | CUSIP: 04052TDC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $300655.13    | 0.55%             | 2059-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp.                            | Monroe County Industrial Development Corp., Series 2020A                            | CUSIP: 61075YAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $163441.44    | 0.30%             | 2059-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                           | Washington State Housing Finance Commission, Series 2025A                           | CUSIP: 93978LJP2<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    150000 | PA      | $151579.02    | 0.28%             | 2060-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| New York Transportation Development Corp.                             | New York Transportation Development Corp., Series 2024B                             | CUSIP: 650116HX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $307932.38    | 0.57%             | 2054-12-31      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri    | Health & Educational Facilities Authority of the State of Missouri, Series 2026     | CUSIP: 60636AXY4<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    250000 | PA      | $245345.25    | 0.45%             | 2046-06-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Illinois Finance Authority                                            | Illinois Finance Authority, Series 2017                                             | CUSIP: 45204EC30<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    200000 | PA      | $183696.80    | 0.34%             | 2042-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                     | Philadelphia Authority for Industrial Development, Series 2017                      | CUSIP: 71781XHE6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    115000 | PA      | $117884.03    | 0.22%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp.                                 | Puerto Rico Sales Tax Financing Corp., Series A-1                                   | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    730000 | PA      | $680770.33    | 1.25%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| City of Chicago                                                       | City of Chicago, Series 2019A                                                       | CUSIP: 167486E39<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    240000 | PA      | $235948.75    | 0.43%             | 2049-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| County of Cuyahoga                                                    | County of Cuyahoga, Series 2017                                                     | CUSIP: 2322655S3<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |    245000 | PA      | $237511.48    | 0.44%             | 2047-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                     | Florida Development Finance Corp., Series 2026A                                     | CUSIP: 34061QDV6<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    450000 | PA      | $466308.14    | 0.86%             | 2051-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Virgin Islands Hotel Development Financing Corp.                      | Virgin Islands Hotel Development Financing Corp., Series 2025A-1                    | CUSIP: 92766AAN8<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |    200000 | PA      | $194617.76    | 0.36%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Hotel Occupancy Tax & Special Revenue              | City of Houston, Series 2026C                                                       | CUSIP: 44237NMU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15932.91     | 0.03%             | 2058-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tulsa Municipal Airport Trust Trustees/OK                             | Tulsa Municipal Airport Trust Trustees, Series 2025                                 | CUSIP: 899661EN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $263102.52    | 0.48%             | 2040-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                              | Build NYC Resource Corp., Series 2025A                                              | CUSIP: 12008EXJ0<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    150000 | PA      | $147532.68    | 0.27%             | 2060-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                 | California Infrastructure & Economic Development Bank, Series 2025B                 | CUSIP: 13034A7E4<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    220000 | PA      | $116600.00    | 0.21%             | 2065-01-01      | Variable      | 12.00%                | Yes           |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                           | Commonwealth of Puerto Rico, Series 2022A-1                                         | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    916000 | PA      | $787118.16    | 1.45%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                 | Louisiana Public Facilities Authority, Series 2025                                  | CUSIP: 546399UY0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100109.55    | 0.18%             | 2059-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Allentown Neighborhood Improvement Zone Development Authority         | Allentown Neighborhood Improvement Zone Development Authority, Series 2018          | CUSIP: 018444BF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302162.28    | 0.56%             | 2042-05-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                        | Buckeye Tobacco Settlement Financing Authority, Series 2020B-3, Class 2             | CUSIP: 118217DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $109707.60    | 0.20%             | 2057-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Nomura ETF Trust

**Signature:** Francis P. Magee

**Name of Signer:** Francis P. Magee

**Title:** Associate Director, US Funds Administration