# EDGAR Filing Document

**Accession Number:** 0001089951
**File Stem:** 0000940400-26-007758
**Filing Date:** 2026-2
**Character Count:** 57709
**Document Hash:** 1a4c0b8cc6db271a08c6a132dd8173e0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-007758.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0000940400-26-007758

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMG FUNDS
- **CENTRAL INDEX KEY:** 0001089951

**ORGANIZATION NAME:**
- **EIN:** 061555943
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09521
- **FILM NUMBER:** 26676487

**BUSINESS ADDRESS:**
- **STREET 1:** 680 WASHINGTON BOULEVARD, SUITE 500
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06901
- **BUSINESS PHONE:** 2032993500

**MAIL ADDRESS:**
- **STREET 1:** 680 WASHINGTON BOULEVARD, SUITE 500
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06901

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANAGERS AMG FUNDS
- **DATE OF NAME CHANGE:** 19990706

## Series and Classes Contracts Data

### AMG GW&K Municipal Enhanced SMA Shares (Series ID: S000079761)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000241081 | AMG GW&K Municipal Enhanced SMA Shares | MESHX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** AMG Funds

- **b. Investment Company Act file number:** 811-09521

- **c. CIK number of Registrant:** 0001089951

- **d. LEI of Registrant:** 54930020IDQ6ZIPGNH13

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

  - **Street Address 1:** 680 Washington Blvd.

  - **City:** Stamford

  - **State:** CT

  - **Foreign country:** US

  - **Zip / Postal Code:** 06901

  - **Telephone number:** 800-548-4539

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

- **a. Name of Series:** AMG GW&K Municipal Enhanced SMA Shares

- **b. EDGAR series identifier (if any):** S000079761

- **c. LEI of Series:** 549300KFN2YUNQLG5O94

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $218161940.84

**Total Liabilities:** $67914.39

**Net Assets:** $218094026.45

**Cash Not Reported:** $1950.08

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 15.32251000 | **1-Year:** 35.74227000 | **5-Year:** 10940.30283000 | **10-Year:** 188635.70880000 | **30-Year:** 9968.07631000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 2022.80419000 | **10-Year:** 9892.96424000 | **30-Year:** 479.54225000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241081 | 1.59%                | 0.29%                | -0.17%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $159689.48               | $2335914.41                                |
| Month 2  | $0.00                    | $-158402.46                                |
| Month 3  | $-3465.14                | $-1371119.14                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HOUSTON TX ARPT SYS REVENUE      | City of Houston TX Airport System Revenue                          | CUSIP: 442349HZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1749222.44   | 0.80%             | 2039-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL   | Rhode Island Health and Educational Building Corp                  | CUSIP: 762244NZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1510016.55   | 0.69%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                      | State of Illinois                                                  | CUSIP: 452153AU3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1204182.23   | 0.55%             | 2040-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU   | Texas Private Activity Bond Surface Transportation Corp            | CUSIP: 882667AY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1167750.18   | 0.54%             | 2039-12-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HOSP FACS REV   | County of Hamilton OH                                              | CUSIP: 4072722W2<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026198.70   | 0.47%             | 2051-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP HLTHCAREF   | Florida Development Finance Corp                                   | CUSIP: 34061QBU0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    325000 | PA      | $311779.20    | 0.14%             | 2052-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS   | Indiana Finance Authority                                          | CUSIP: 45471FAX9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000130.30   | 0.46%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FL HLTH FACS AUTH    | Miami Beach Health Facilities Authority                            | CUSIP: 593211FQ3<br>LEI: 549300MFT7I1HF5VL403 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1086550.50   | 0.50%             | 2051-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI   | Washington State Housing Finance Commission                        | CUSIP: 93978LHF6<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019383.20   | 0.47%             | 2049-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SF MT   | Michigan State Housing Development Authority                       | CUSIP: 594654C78<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001674.80   | 0.46%             | 2050-12-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TN ELEC REVENUE      | City of Chattanooga TN Electric Revenue                            | CUSIP: 162393GC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1040261.46   | 0.48%             | 2040-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HLTH FACS AUTH   | Brevard County Health Facilities Authority                         | CUSIP: 107416QM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1203630.21   | 0.55%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R   | Massachusetts Development Finance Agency                           | CUSIP: 57585BJU3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504160.10   | 0.69%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FL HLTH FACS AUT   | Escambia County Health Facilities Authority                        | CUSIP: 296110GF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $907840.30    | 0.42%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL   | Rhode Island Health and Educational Building Corp                  | CUSIP: 762244MJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5315000 | PA      | $5372151.66   | 2.46%             | 2054-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLUMBUS OH REGL ARPT AUTH REV   | Columbus Regional Airport Authority                                | CUSIP: 199546DD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3154822.50   | 1.45%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN   | Virginia Small Business Financing Authority                        | CUSIP: 928104QJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1755692.17   | 0.81%             | 2047-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUB FIN AUTH WI TAX INCREMENT    | Public Finance Authority                                           | CUSIP: 74448EAA2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3048397.20   | 1.40%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE    | Metropolitan Transportation Authority                              | CUSIP: 59261AG43<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011776.30   | 0.46%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY GA DEV AUTH REVEN   | Fayette County Development Authority                               | CUSIP: 31222PAW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1554723.45   | 0.71%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TOLL REVENU   | Public Finance Authority                                           | CUSIP: 74448UAB4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031930.30   | 0.47%             | 2060-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST HSG FIN CORP REVENU   | Florida Housing Finance Corp                                       | CUSIP: 34074M4X6<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1474828.88   | 0.68%             | 2054-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GTR ORLANDO AVIATION AUTH FL S   | Greater Orlando Aviation Authority                                 | CUSIP: 39227AAD4<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079437.70   | 0.49%             | 2037-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A   | South Carolina Public Service Authority                            | CUSIP: 8371515A3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041255.80   | 0.48%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE   | South Carolina Jobs-Economic Development Authority                 | CUSIP: 83704HAM9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022945.20   | 0.47%             | 2054-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES   | New York State Dormitory Authority                                 | CUSIP: 65000BLP1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    550000 | PA      | $474191.25    | 0.22%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                      | City of New York NY                                                | CUSIP: 64966SJZ0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025648.50   | 0.47%             | 2054-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R   | Massachusetts Development Finance Agency                           | CUSIP: 57584Y4T3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4005000 | PA      | $3994202.52   | 1.83%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE      | City of Houston TX Airport System Revenue                          | CUSIP: 442349HY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080265.50   | 0.50%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE      | Indiana Finance Authority                                          | CUSIP: 45506EPA5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1509136.35   | 0.69%             | 2055-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU   | Texas Private Activity Bond Surface Transportation Corp            | CUSIP: 882667AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5050000 | PA      | $4925418.52   | 2.26%             | 2058-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE    | Metropolitan Transportation Authority                              | CUSIP: 59261AG35<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3625000 | PA      | $3628307.81   | 1.66%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BNY MELLON, NATIONAL ASSOCIATION | FICC                                                               | CUSIP: 000000000<br>LEI: 4EP6JBYBTPTQ47LZOB67 | Long             | RA               | CORP              | US        |   2794000 | PA      | $2794000.00   | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE   | South Carolina Jobs-Economic Development Authority                 | CUSIP: 837032CF6<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1318586.63   | 0.60%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TOLL REVENU   | Public Finance Authority                                           | CUSIP: 74448UAD0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6178057.80   | 2.83%             | 2065-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI   | Pennsylvania Turnpike Commission                                   | CUSIP: 709225BD7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2435000 | PA      | $2251400.03   | 1.03%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE      | City of Houston TX Airport System Revenue                          | CUSIP: 442349HX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1705000 | PA      | $1853080.96   | 0.85%             | 2037-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH    | Orange County Health Facilities Authority                          | CUSIP: 68450LJQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3632597.85   | 1.67%             | 2056-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING A   | Virginia Small Business Financing Authority                        | CUSIP: 928097AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1935000 | PA      | $1852931.62   | 0.85%             | 2052-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S JERSEY NJ TRANSPRTN AUTH TRA   | South Jersey Transportation Authority                              | CUSIP: 838536MP2<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |   2070000 | PA      | $2057826.54   | 0.94%             | 2047-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R   | Massachusetts Development Finance Agency                           | CUSIP: 57585BPC6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2116227.60   | 0.97%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTH FOR COLORADO ST EN   | Public Authority for Colorado Energy                               | CUSIP: 744387AD3<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1617905.82   | 0.74%             | 2038-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH   | West Virginia Hospital Finance Authority                           | CUSIP: 956622Y81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064376.20   | 0.49%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST AGRIC & ECON DEVB   | Minnesota Agricultural & Economic Development Board                | CUSIP: 6049203E6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034412.40   | 0.47%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE   | California Municipal Finance Authority                             | CUSIP: 13048VZJ0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    240000 | PA      | $207459.50    | 0.10%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP   | New York Transportation Development Corp                           | CUSIP: 650116HM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011795.40   | 0.46%             | 2054-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP   | New York Transportation Development Corp                           | CUSIP: 650116FQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    845000 | PA      | $879601.65    | 0.40%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP   | New York Transportation Development Corp                           | CUSIP: 650116FR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $841274.95    | 0.39%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP   | New York Transportation Development Corp                           | CUSIP: 650116JQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2670000 | PA      | $2808189.86   | 1.29%             | 2059-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SF MT   | Michigan State Housing Development Authority                       | CUSIP: 594654C86<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1274324.48   | 0.58%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VLG CDD #16 FL SPL ASSMNT REVE   | Village Community Development District No 16                       | CUSIP: 92708MAE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2598149.58   | 1.19%             | 2056-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| VILLAGE CDD NO 15 SPL ASSMNT R   | Village Community Development District No 15                       | CUSIP: 92708KAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $960055.60    | 0.44%             | 2055-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST MUNI PWR AUTH        | Oklahoma Municipal Power Authority                                 | CUSIP: 67910HTA8<br>LEI: 54930074Q1M8747DCS20 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1804939.98   | 0.83%             | 2056-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OHIO ST HGR EDUCTNL FAC COMMIS   | Ohio Higher Educational Facility Commission                        | CUSIP: 67756DS80<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3041711.40   | 1.39%             | 2054-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU   | Idaho Health Facilities Authority                                  | CUSIP: 451295H44<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1898374.40   | 0.87%             | 2053-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| OHIO ST HGR EDUCTNL FAC COMMIS   | Ohio Higher Educational Facility Commission                        | CUSIP: 67756DS72<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2548995.75   | 1.17%             | 2049-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C   | Duluth Economic Development Authority                              | CUSIP: 26444CHC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $413514.60    | 0.19%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEISINGER PA AUTH HLTH SYS REV   | Geisinger Authority                                                | CUSIP: 368497JV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1166744.83   | 0.53%             | 2050-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R   | Massachusetts Development Finance Agency                           | CUSIP: 57585BBU1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $948648.60    | 0.43%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A   | South Carolina Public Service Authority                            | CUSIP: 8371514F3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066815.60   | 0.49%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA   | Pennsylvania Higher Educational Facilities Authority               | CUSIP: 70917TRZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4780000 | PA      | $4808006.50   | 2.20%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL CHRTR SC   | Capital Trust Authority                                            | CUSIP: 14054YAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1765000 | PA      | $1534248.49   | 0.70%             | 2064-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TOLL REVENU   | Public Finance Authority                                           | CUSIP: 74448UAC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094301.00   | 0.50%             | 2065-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN   | Virginia Small Business Financing Authority                        | CUSIP: 928104NY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $469855.78    | 0.22%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                      | State of Illinois                                                  | CUSIP: 452153KF5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032068.10   | 0.47%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE       | Public Finance Authority                                           | CUSIP: 74442PL37<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1561724.91   | 0.72%             | 2061-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R   | Massachusetts Development Finance Agency                           | CUSIP: 57585BEY0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2578390.38   | 1.18%             | 2054-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING    | Pennsylvania Economic Development Financing Authority              | CUSIP: 70868YAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4075000 | PA      | $4019087.74   | 1.84%             | 2057-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP   | New York Transportation Development Corp                           | CUSIP: 650116GN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $551036.35    | 0.25%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST TURNPIKE AUT   | North Carolina Turnpike Authority                                  | CUSIP: 65830RDA4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1991459.73   | 0.91%             | 2058-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL    | Metropolitan Pier & Exposition Authority                           | CUSIP: 592250EW0<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    325000 | PA      | $309856.50    | 0.14%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP R   | Tobacco Settlement Financing Corp/RI                               | CUSIP: 888809BE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $570039.10    | 0.26%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TENN HEALTH EDL &    | Shelby County Health & Educational Facilities Board                | CUSIP: 82170LAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2412767.50   | 1.11%             | 2056-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV   | Colorado Health Facilities Authority                               | CUSIP: 19648FXU3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038009.10   | 0.48%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL CHRTR SC   | Capital Trust Authority                                            | CUSIP: 14054YAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $895148.10    | 0.41%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NASH HLTH CARE SYS NC HLTH CAR   | Nash Health Care Systems                                           | CUSIP: 631163BQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032154.90   | 0.47%             | 2055-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FL HLTH FACS AUTH    | Miami Beach Health Facilities Authority                            | CUSIP: 593211FN0<br>LEI: 549300MFT7I1HF5VL403 | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2131731.34   | 0.98%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                      | State of Illinois                                                  | CUSIP: 452153KG3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031267.00   | 0.47%             | 2049-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC   | Health & Educational Facilities Authority of the State of Missouri | CUSIP: 60637ARH7<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2169966.25   | 0.99%             | 2053-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING   | Suffolk Regional Off-Track Betting Corp                            | CUSIP: 86480TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014765.90   | 0.47%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE CDD NO 15 SPL ASSMNT R   | Village Community Development District No 15                       | CUSIP: 92708KAJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $960347.14    | 0.44%             | 2044-05-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING    | Pennsylvania Economic Development Financing Authority              | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2185000 | PA      | $2214686.72   | 1.02%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP   | New York Transportation Development Corp                           | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2526972.25   | 1.16%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF   | Pennsylvania Housing Finance Agency                                | CUSIP: 70879QXU2<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1225564.38   | 0.56%             | 2053-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV   | Colorado Health Facilities Authority                               | CUSIP: 19648FKS2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    930000 | PA      | $943529.83    | 0.43%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A   | Palm Beach County Health Facilities Authority                      | CUSIP: 69650MBB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1976517.40   | 0.91%             | 2055-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R   | Massachusetts Development Finance Agency                           | CUSIP: 57584YL64<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $893055.24    | 0.41%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL    | Metropolitan Pier & Exposition Authority                           | CUSIP: 592250DM3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    815000 | PA      | $810690.52    | 0.37%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE     | New Hampshire Business Finance Authority                           | CUSIP: 63607YCZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2600184.50   | 1.19%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS   | Indiana Finance Authority                                          | CUSIP: 45471FAZ4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1512451.65   | 0.69%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R   | Massachusetts Development Finance Agency                           | CUSIP: 57585BJT6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1762987.45   | 0.81%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA   | Chicago O'Hare International Airport                               | CUSIP: 167593L59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100026.84   | 0.50%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TN HLTH EDUCTNL &    | Chattanooga Health Educational & Housing Facility Board            | CUSIP: 162409AP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2066425.60   | 0.95%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TX UTILITY SYSR   | City of Corpus Christi TX Utility System Revenue                   | CUSIP: 2202455X8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $773567.55    | 0.35%             | 2055-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N   | Tobacco Settlement Financing Corp                                  | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $266938.93    | 0.12%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STADIUM & EXPOSITION   | Louisiana Stadium & Exposition District                            | CUSIP: 546410CY5<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1844424.43   | 0.85%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP   | New York Transportation Development Corp                           | CUSIP: 650116GX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1224427.62   | 0.56%             | 2049-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N   | Tobacco Settlement Financing Corp                                  | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $527887.42    | 0.24%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS WTR DEV BRD REVENUE        | Texas Water Development Board                                      | CUSIP: 88285AKD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003883.00   | 0.46%             | 2055-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP   | New York Transportation Development Corp                           | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049189.40   | 0.48%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES   | New York State Dormitory Authority                                 | CUSIP: 65000BLQ9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    340000 | PA      | $284577.69    | 0.13%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTRL PLAINS ENERGY PROJ NE G   | Central Plains Energy Project                                      | CUSIP: 154871CP0<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1828263.85   | 0.84%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU   | Texas Private Activity Bond Surface Transportation Corp            | CUSIP: 882667BX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $673442.58    | 0.31%             | 2058-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP HLTHCAREF   | Florida Development Finance Corp                                   | CUSIP: 34061QCU9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1771873.43   | 0.81%             | 2055-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H   | Montgomery County Higher Education and Health Authority            | CUSIP: 613603G60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $905210.46    | 0.42%             | 2052-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP   | New York Transportation Development Corp                           | CUSIP: 650110AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $955591.09    | 0.44%             | 2053-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R   | Massachusetts Development Finance Agency                           | CUSIP: 57585BKJ6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4285000 | PA      | $4216634.54   | 1.93%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY GA DEV AUTH REVEN   | Fayette County Development Authority                               | CUSIP: 31222PAX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1544606.25   | 0.71%             | 2054-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE    | County of Jefferson AL Sewer Revenue                               | CUSIP: 472682ZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1652437.12   | 0.76%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS   | Indiana Finance Authority                                          | CUSIP: 45471FAY7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1240304.25   | 0.57%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV   | Colorado Health Facilities Authority                               | CUSIP: 19648FZK3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1296417.87   | 0.59%             | 2055-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL   | Rhode Island Health and Educational Building Corp                  | CUSIP: 762244PA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3008736.30   | 1.38%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE    | Metropolitan Transportation Authority                              | CUSIP: 59261A5G8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045232.60   | 0.48%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RICHLAND CNTY SC SCH DIST #2     | Richland County School District No 2/SC                            | CUSIP: 763682R94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1253386.88   | 0.57%             | 2038-03-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP HLTHCAREF   | Florida Development Finance Corp                                   | CUSIP: 34061QBT3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    485000 | PA      | $398263.96    | 0.18%             | 2052-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH   | West Virginia Hospital Finance Authority                           | CUSIP: 956622X25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080122.70   | 0.50%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING A   | Virginia Small Business Financing Authority                        | CUSIP: 928097AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1905000 | PA      | $1834470.99   | 0.84%             | 2049-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP   | New York Transportation Development Corp                           | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2584017.25   | 1.18%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CENTRL TX REGL MOBILITY AUTH R   | Central Texas Regional Mobility Authority                          | CUSIP: 155498LX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1790534.40   | 0.82%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECON DEV AUTH HOS   | Lynchburg Economic Development Authority                           | CUSIP: 55123TBS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $202196.69    | 0.09%             | 2055-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N   | Tobacco Settlement Financing Corp                                  | CUSIP: 888808HQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $398616.07    | 0.18%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R   | Massachusetts Development Finance Agency                           | CUSIP: 57585BEX2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029515.50   | 0.47%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI   | Washington State Housing Finance Commission                        | CUSIP: 93978LHG4<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1419876.45   | 0.65%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL INDL DEVA   | Hillsborough County Industrial Development Authority               | CUSIP: 43233AFD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $698568.04    | 0.32%             | 2050-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALBANY NY CAPITAL RESOURCE COR   | Albany Capital Resource Corp                                       | CUSIP: 012432EU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055044.80   | 0.48%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE    | County of Jefferson AL Sewer Revenue                               | CUSIP: 472682ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5860000 | PA      | $6127854.15   | 2.81%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OHIO ST HSG FIN AGY RSDL MTGE    | Ohio Housing Finance Agency                                        | CUSIP: 67756Q6U6<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1041529.02   | 0.48%             | 2049-09-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE       | Public Finance Authority                                           | CUSIP: 74442PL29<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1109523.69   | 0.51%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                      | City of New York NY                                                | CUSIP: 64966SRN8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048910.80   | 0.48%             | 2055-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR   | Allegheny County Airport Authority                                 | CUSIP: 01728LFJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $815107.50    | 0.37%             | 2051-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL    | Philadelphia Authority for Industrial Development                  | CUSIP: 71780TBL6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025936.30   | 0.47%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES   | New York State Dormitory Authority                                 | CUSIP: 64985SBV4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1372586.41   | 0.63%             | 2050-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV   | County of Miami-Dade Seaport Department                            | CUSIP: 59335KDF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2265000 | PA      | $2056575.83   | 0.94%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SF MT   | Michigan State Housing Development Authority                       | CUSIP: 594654J97<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1813348.26   | 0.83%             | 2051-06-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL    | Metropolitan Pier & Exposition Authority                           | CUSIP: 592250EY6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    485000 | PA      | $416868.17    | 0.19%             | 2052-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-24

**Name of Applicant:** AMG Funds

**Signature:** Thomas Disbrow

**Name of Signer:** Thomas Disbrow

**Title:** Principal Financial Officer