# EDGAR Filing Document

**Accession Number:** 0000875186
**File Stem:** 0001003715-26-001532
**Filing Date:** 2026-4
**Character Count:** 56677
**Document Hash:** 83208f3404daf6faa6b6a9476f1242e3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001003715-26-001532.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0001003715-26-001532

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MORGAN STANLEY PATHWAY FUNDS
- **CENTRAL INDEX KEY:** 0000875186

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06318
- **FILM NUMBER:** 26897369

**BUSINESS ADDRESS:**
- **STREET 1:** 2000 WESTCHESTER AVENUE
- **CITY:** PURCHASE
- **STATE:** NY
- **ZIP:** 10577
- **BUSINESS PHONE:** 8883749999

**MAIL ADDRESS:**
- **STREET 1:** 2000 WESTCHESTER AVENUE
- **CITY:** PURCHASE
- **STATE:** NY
- **ZIP:** 10577

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CONSULTING GROUP CAPITAL MARKETS FUNDS
- **DATE OF NAME CHANGE:** 19950125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRUST FOR TRAK INVESTMENTS
- **DATE OF NAME CHANGE:** 19920929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INSTITUTIONAL ADVISORS PORTFOLIOS
- **DATE OF NAME CHANGE:** 19600201

## Series and Classes Contracts Data

### Municipal Bond Fund (Series ID: S000008430)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000023138 | Municipal Bond Fund | TMUUX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MORGAN STANLEY PATHWAY FUNDS

- **b. Investment Company Act file number:** 811-06318

- **c. CIK number of Registrant:** 0000875186

- **d. LEI of Registrant:** 549300P3RUTI9W6SLI87

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

  - **Street Address 1:** 2000 Westchester Avenue

  - **City:** Purchase

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10577

  - **Telephone number:** 888-454-3965

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

- **a. Name of Series:** Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000008430

- **c. LEI of Series:** 549300VPJMYOZ7NZK044

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2026-02-28

**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:** $89460441.62

**Total Liabilities:** $543495.09

**Net Assets:** $88916946.53

**Cash Not Reported:** $9419160.97

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -89.42707611 | **1-Year:** -2544.95095626 | **5-Year:** -14085.27481226 | **10-Year:** -34879.83368739 | **30-Year:** -8338.62710331

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

- **3-Month:** -8.56168690 | **1-Year:** -1.16348079 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023138 | 0.03%                | 0.70%                | 1.17%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $51915.31                | $-272948.75                                |
| Month 2  | $0.00                    | $421292.45                                 |
| Month 3  | $-59788.78               | $908131.75                                 |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** SEC_PORT

### Schedule of Portfolio Investments

| Name                           | Title                                                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALABAMA FEDERAL AI 5% 09/01/36 | ALABAMA FEDERAL AID HIGHWAY FI REGD B/E 5.00000000                        | CUSIP: 010268DJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $474301.64    | 0.53%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CNTY VA  5% 06/01/38 | ALBEMARLE CNTY VA ECON DEV AUT REGD B/E 5.00000000                        | CUSIP: 01266HFE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $569820.55    | 0.64%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA ARPT 5.25% 07/01/41 | ATLANTA GA ARPT REVENUE REGD B/E AMT 5.25000000                           | CUSIP: 04780M2X6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $562590.10    | 0.63%             | 2041-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX ARPT SYS 5% 11/15/41 | AUSTIN TX ARPT SYS REVENUE REGD B/E AMT 5.00000000                        | CUSIP: 052398JP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $554552.75    | 0.62%             | 2041-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX WTR & WS 5% 11/15/41 | AUSTIN TX WTR & WSTWTR SYS REV REGD B/E 5.00000000                        | CUSIP: 052477YN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $354228.68    | 0.40%             | 2041-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD SP 2.85% 06/01/26 | BALTIMORE MD SPL OBLIG REGD N/C B/E 2.85000000                            | CUSIP: 05923TCG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $134747.59    | 0.15%             | 2026-06-01      | Fixed         | 2.85%                 | Yes           |                  2 | On Loan: No      |
| BEXAR MGMT & DE 4.61% 07/01/44 | BEXAR MGMT & DEV CORP TX MF HS REGD N/C B/E FNMA CO 4.61000000            | CUSIP: 08857FAA1<br>LEI: 2549009KNEM1RHMCBG65 | Long             | DBT              | MUN               | US        |    415000 | PA      | $431088.89    | 0.48%             | 2044-07-01      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY V/R 05/01/55 | BLACK BELT ENERGY GAS DIST AL REGD V/R B/E 5.25000000                     | CUSIP: 09182TDL8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    220000 | PA      | $238867.68    | 0.27%             | 2055-05-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY  5% 07/01/29 | BLACK BELT ENERGY GAS DIST AL REGD N/C B/E 5.00000000                     | CUSIP: 09182THE0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    120000 | PA      | $126538.40    | 0.14%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOGGY CREEK FL 5.125% 05/01/43 | BOGGY CREEK FL IMPT DIST SPL A REGD OID B/E 5.12500000                    | CUSIP: 097206AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $460148.07    | 0.52%             | 2043-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BOSTON MA 5% 11/01/37          | BOSTON MA REGD B/E 5.00000000                                             | CUSIP: 100853H29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1152538.90   | 1.30%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HL 5% 04/01/47 | BREVARD CNTY FL HLTH FACS AUTH REGD B/E 5.00000000                        | CUSIP: 107416QM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027777.40   | 1.16%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL WT 4% 10/01/45 | BROWARD CNTY FL WTR & SWR UTIL REGD B/E 4.00000000                        | CUSIP: 115117NH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $265372.19    | 0.30%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO 3% 06/01/48 | BUCKEYE OH TOBACCO SETTLEMENT REGD B/E 3.00000000                         | CUSIP: 118217CW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $61776.16     | 0.07%             | 2048-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO 5% 06/01/55 | BUCKEYE OH TOBACCO SETTLEMENT REGD B/E 5.00000000                         | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $82702.30     | 0.09%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INF V/R 01/01/65 | CALIFORNIA ST INFRASTRUCTURE & REGD V/R B/E AMT 12.00000000               | CUSIP: 13034A7E4<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    650000 | PA      | $351000.00    | 0.39%             | 2065-01-01      | Variable      | 12.00%                | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH  4% 06/01/31 | CALIFORNIA ST SCH FIN AUTH CHR REGD B/E ST INTE 4.00000000                | CUSIP: 13058TKN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $247989.00    | 0.28%             | 2031-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CALIFORNIA ST SCH  5% 08/01/32 | CALIFORNIA ST SCH FIN AUTH CHR REGD B/E 5.00000000                        | CUSIP: 13058TPT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $663576.45    | 0.75%             | 2032-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CALIFORNIA ST PUBL 5% 11/01/46 | CALIFORNIA ST PUBLIC WKS BRD L REGD B/E 5.00000000                        | CUSIP: 13068XED7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064163.30   | 1.20%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAMDEN CNTY NJ IMP 6% 06/15/62 | CAMDEN CNTY NJ IMPT AUTH SCH R REGD OID B/E 6.00000000                    | CUSIP: 13281PAD9<br>LEI: 549300UTQBT9ZE0QFB15 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103468.14    | 0.12%             | 2062-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY ZCP 01/01/60 | CAPITAL TRUST AGY FL REVENUE REGD N/C ZCP OID B/E 0.00000000              | CUSIP: 14052WDH7<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $230602.75    | 0.26%             | 2060-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CENTRL MI UNIV REV 5% 10/01/37 | CENTRL MI UNIV REVENUES REGD B/E 5.00000000                               | CUSIP: 154123B77<br>LEI: 549300ADPRW1MSPHFS73 | Long             | DBT              | MUN               | US        |    845000 | PA      | $977744.35    | 1.10%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MIDWAY  5% 01/01/38 | CHICAGO IL MIDWAY ARPT REVENUE REGD B/E AMT 5.00000000                    | CUSIP: 167562TJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1107799.10   | 1.25%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO BRIDGE &  5% 12/01/36 | COLORADO BRIDGE & TUNNEL ENTER REGD B/E AG 5.00000000                     | CUSIP: 19633TAP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $117866.01    | 0.13%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH F 3% 11/15/51 | COLORADO ST HLTH FACS AUTH REV REGD B/E 3.00000000                        | CUSIP: 19648FSJ4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    500000 | PA      | $368407.00    | 0.41%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL 5% 07/01/44 | CONNECTICUT ST SPL TAX OBLIG R REGD B/E 5.00000000                        | CUSIP: 207758V59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $552548.95    | 0.62%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL CMNTY 5% 12/01/41 | COOK CNTY IL CMNTY CONSOL SCHD REGD B/E 5.00000000                        | CUSIP: 213669KY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $335012.07    | 0.38%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL HIGH  5% 06/01/27 | COOK CNTY IL HIGH SCH DIST #20 REGD N/C B/E AG 5.00000000                 | CUSIP: 215457CA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $258241.85    | 0.29%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS-FORT WOR 5.25% 11/01/45 | DALLAS-FORT WORTH TX INTERNATI REGD B/E AMT 5.25000000                    | CUSIP: 23503CGG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079532.50   | 1.21%             | 2045-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CN 5.5% 12/01/47 | DENVER CITY & CNTY CO SCH DIST REGD B/E ST AID 5.50000000                 | CUSIP: 249174ZL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1119174.40   | 1.26%             | 2047-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA 5% 08/01/36   | DIST OF COLUMBIA REGD B/E 5.00000000                                      | CUSIP: 25476FG44<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1171727.70   | 1.32%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA I 5% 06/01/33 | DIST OF COLUMBIA INCOME TAX SE REGD N/C B/E 5.00000000                    | CUSIP: 25477GXZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $588110.70    | 0.66%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA I 5% 06/01/43 | DIST OF COLUMBIA INCOME TAX SE REGD B/E 5.00000000                        | CUSIP: 25477GYK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $560058.45    | 0.63%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA  ZCP 06/15/46 | DIST OF COLUMBIA TOBACCO SETTL REGD ZCP OID B/E 0.00000000                | CUSIP: 254842BC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2075000 | PA      | $480769.82    | 0.54%             | 2046-06-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| EAST BAY CA MUNI U 5% 06/01/43 | EAST BAY CA MUNI UTILITY DIST REGD B/E 5.00000000                         | CUSIP: 271014S86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $865747.50    | 0.97%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAST BAY CA MUNI U 5% 06/01/44 | EAST BAY CA MUNI UTILITY DIST REGD B/E 5.00000000                         | CUSIP: 271014S94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $861093.88    | 0.97%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY S E AL A CO 5% 11/01/35 | ENERGY S E AL A COOPERATIVE DI REGD B/E 5.00000000                        | CUSIP: 292723CU5<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |    215000 | PA      | $235215.20    | 0.26%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND TX INDEP 5% 08/15/44 | FORT BEND TX INDEP SCH DIST REGD B/E PSF-GTD 5.00000000                   | CUSIP: 346843WP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078677.00   | 1.21%             | 2044-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND TX INDEP 5% 08/15/36 | FORT BEND TX INDEP SCH DIST REGD B/E PSF-GTD 5.00000000                   | CUSIP: 346843XD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $581718.65    | 0.65%             | 2036-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT LAUDERDALE FL 5% 09/01/41 | FORT LAUDERDALE FL WTR & SWR R REGD B/E 5.00000000                        | CUSIP: 347658B96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $568744.10    | 0.64%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEISINGER PA AUTH  4% 04/01/50 | GEISINGER PA AUTH HLTH SYS REV REGD B/E 4.00000000                        | CUSIP: 368497JV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $224355.98    | 0.25%             | 2050-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES MI  5.25% 07/01/53 | GREAT LAKES MI WTR AUTH SEWAGE REGD B/E 5.25000000                        | CUSIP: 39081HFG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527771.60    | 0.59%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX 5% 09/15/38     | HARRIS CNTY TX REGD B/E 5.00000000                                        | CUSIP: 4140054T2<br>LEI: 549300G9BRP25M0W1S40 | Long             | DBT              | MUN               | US        |    500000 | PA      | $580993.50    | 0.65%             | 2038-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX CUL 5% 12/01/29 | HARRIS CNTY TX CULTURAL EDU FA REGD N/C B/E 5.00000000                    | CUSIP: 414009UA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $521270.46    | 0.59%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENDERSON KY EX 4.45% 01/01/42 | HENDERSON KY EXEMPT FACS REVEN REGD B/E AMT 4.45000000                    | CUSIP: 425099AA6<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |    230000 | PA      | $232628.53    | 0.26%             | 2042-01-01      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| HOUSTON TX 5.25% 03/01/40      | HOUSTON TX REGD B/E 5.25000000                                            | CUSIP: 442332DD1<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |    500000 | PA      | $561607.30    | 0.63%             | 2040-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS 5% 03/01/42 | IDAHO ST HLTH FACS AUTH REVENU REGD B/E 5.00000000                        | CUSIP: 451295G60<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    900000 | PA      | $998880.12    | 1.12%             | 2042-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AU 5% 07/01/43 | ILLINOIS ST FIN AUTH REVENUE REGD B/E 5.00000000                          | CUSIP: 45204FC94<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $563068.30    | 0.63%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST 5% 12/01/46        | ILLINOIS ST REGD B/E 5.00000000                                           | CUSIP: 452153HS1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    150000 | PA      | $154785.24    | 0.17%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST 5.25% 05/01/44     | ILLINOIS ST REGD B/E 5.25000000                                           | CUSIP: 452153KB4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    275000 | PA      | $295132.92    | 0.33%             | 2044-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANA ST MUNI PW 5% 01/01/43 | INDIANA ST MUNI PWR AGY REGD B/E AG 5.00000000                            | CUSIP: 454898YV3<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |    650000 | PA      | $716231.36    | 0.81%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LO 6% 02/01/48 | INDIANAPOLIS IN LOCAL PUBLIC I REGD B/E 6.00000000                        | CUSIP: 45528U7V7<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    500000 | PA      | $558384.15    | 0.63%             | 2048-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LO 5% 01/01/31 | INDIANAPOLIS IN LOCAL PUBLIC I REGD N/C B/E AMT 5.00000000                | CUSIP: 45528VFW4<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1105095.60   | 1.24%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IPS MULTI-SCH BLDG 5% 07/15/44 | IPS MULTI-SCH BLDG CORP IN REGD B/E ST INTE 5.00000000                    | CUSIP: 46263RVE2<br>LEI: 549300BHLK1DUJUYPM91 | Long             | DBT              | MUN               | US        |    500000 | PA      | $540435.25    | 0.61%             | 2044-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEA FL WTR & SW 5.25% 10/01/49 | JEA FL WTR & SWR REVENUE REGD B/E 5.25000000                              | CUSIP: 46615SFN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $108055.95    | 0.12%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JOHNSTON CNTY NC L 5% 04/01/41 | JOHNSTON CNTY NC LTD OBLG REGD B/E 5.00000000                             | CUSIP: 479354FN7<br>LEI: 5493003J6KNUY7E7SF98 | Long             | DBT              | MUN               | US        |    500000 | PA      | $571117.00    | 0.64%             | 2041-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO  4.39% 09/01/42 | KANSAS CITY MO INDL DEV AUTH M REGD N/C B/E FNMA CO 4.39000000            | CUSIP: 48504RAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    198035 | PA      | $207869.51    | 0.23%             | 2042-09-01      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEV FIN  5% 09/01/44 | KANSAS ST DEV FIN AUTH REVENUE REGD B/E 5.00000000                        | CUSIP: 48542RU36<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |    500000 | PA      | $531449.65    | 0.60%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEV FIN  5% 05/01/41 | KANSAS ST DEV FIN AUTH REVENUE REGD B/E 5.00000000                        | CUSIP: 48542RXJ8<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |    250000 | PA      | $279891.93    | 0.31%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PROPER 5% 04/01/41 | KENTUCKY ST PROPERTY & BLDGS C REGD B/E 5.00000000                        | CUSIP: 49151F5C0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1162489.21   | 1.31%             | 2041-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH 3.875% 05/01/29 | LAKEWOOD RANCH FL STEWARDSHIP REGD N/C OID B/E 3.87500000                 | CUSIP: 51265KBZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $273564.05    | 0.31%             | 2029-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LANSING MICH BR 5.25% 07/01/54 | LANSING MICH BRD WTR & LT UTIL REGD B/E 5.25000000                        | CUSIP: 516391FN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059440.50   | 1.19%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LAS VIRGENES CA 5.25% 08/01/51 | LAS VIRGENES CA UNIF SCH DIST REGD B/E 5.25000000                         | CUSIP: 518021ZN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $542068.25    | 0.61%             | 2051-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LEANDER TX INDEP S 5% 08/15/34 | LEANDER TX INDEP SCH DIST REGD N/C B/E 5.00000000                         | CUSIP: 521841U38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $591708.95    | 0.67%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURA 4% 12/01/26 | MAIN STREET NATURAL GAS INC GA REGD N/C B/E 4.00000000                    | CUSIP: 56035DCW0<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    315000 | PA      | $317876.27    | 0.36%             | 2026-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATUR V/R 07/01/52 | MAIN STREET NATURAL GAS INC GA REGD V/R B/E 4.00000000                    | CUSIP: 56035DDH2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2550258.75   | 2.87%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATUR V/R 06/01/53 | MAIN STREET NATURAL GAS INC GA REGD V/R B/E 5.00000000                    | CUSIP: 56035DEN8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    435000 | PA      | $465732.32    | 0.52%             | 2053-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY &  6.5% 03/01/55 | MARICOPA CNTY & PHOENIX AZ IND REGD B/E GNMA CO 6.50000000                | CUSIP: 566736EK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $503917.11    | 0.57%             | 2055-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST 5% 11/01/47   | MASSACHUSETTS ST REGD B/E 5.00000000                                      | CUSIP: 57582R2A3<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    500000 | PA      | $529693.95    | 0.60%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST 5% 10/01/48   | MASSACHUSETTS ST REGD B/E 5.00000000                                      | CUSIP: 57582R4A1<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    550000 | PA      | $582460.89    | 0.66%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST 5% 12/01/47   | MASSACHUSETTS ST REGD B/E 5.00000000                                      | CUSIP: 57582TBX9<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    270000 | PA      | $290245.76    | 0.33%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST W 5% 08/01/39 | MASSACHUSETTS ST WTR RESOURCES REGD B/E 5.00000000                        | CUSIP: 576051L61<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |    690000 | PA      | $797018.79    | 0.90%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MESA AZ UTILITY SY 5% 07/01/40 | MESA AZ UTILITY SYS REVENUE REGD B/E 5.00000000                           | CUSIP: 5905452H1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1117260.20   | 1.26%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MESA CNTY CO VL 5.25% 12/01/43 | MESA CNTY CO VLY SCH DIST #51G REGD B/E ST AID 5.25000000                 | CUSIP: 590621LW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $564961.40    | 0.64%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MET NASHVILLE TN A 5% 07/01/46 | MET NASHVILLE TN ARPT AUTH ARP REGD B/E AMT 5.00000000                    | CUSIP: 592190SU7<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051344.20   | 1.18%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY 5.25% 10/01/50 | MIAMI-DADE CNTY FL AVIATION RE REGD B/E AMT 5.25000000                    | CUSIP: 593340AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $835013.12    | 0.94%             | 2050-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG  5.1% 12/01/37 | MICHIGAN ST HSG DEV AUTH SF MT REGD B/E 5.10000000                        | CUSIP: 594654SE6<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    500000 | PA      | $540566.25    | 0.61%             | 2037-12-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| MIDLAND TX 5% 03/01/47         | MIDLAND TX REGD B/E 5.00000000                                            | CUSIP: 5977497Z7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $262661.95    | 0.30%             | 2047-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW CANEY TX INDEP 5% 02/15/41 | NEW CANEY TX INDEP SCH DIST REGD B/E PSF-GTD 5.00000000                   | CUSIP: 643154KV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $352402.69    | 0.40%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRAN 5% 06/15/42 | NEW JERSEY ST TRANSPRTN TRUST REGD B/E 5.00000000                         | CUSIP: 64613CEX2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    240000 | PA      | $267517.34    | 0.30%             | 2042-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRAN 5% 06/15/43 | NEW JERSEY ST TRANSPRTN TRUST REGD B/E 5.00000000                         | CUSIP: 64613CHM3<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    810000 | PA      | $901400.40    | 1.01%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURN 5% 01/01/43 | NEW JERSEY ST TURNPIKE AUTH TU REGD B/E 5.00000000                        | CUSIP: 646140JA2<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    500000 | PA      | $560724.90    | 0.63%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY N 5.25% 02/01/53 | NEW YORK CITY NY TRANSITIONAL REGD B/E 5.25000000                         | CUSIP: 64972JGW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $529126.90    | 0.60%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM A 5% 03/15/44 | NEW YORK ST DORM AUTH ST PERSO REGD B/E 5.00000000                        | CUSIP: 64990KHY2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $551424.65    | 0.62%             | 2044-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST  3.7% 01/01/46 | NORTH DAKOTA ST HSG FIN AGY REGD B/E 3.70000000                           | CUSIP: 658909M29<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    495000 | PA      | $461017.80    | 0.52%             | 2046-01-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| NORTH RIDGEVILLE O 5% 12/01/44 | NORTH RIDGEVILLE OH CITY SCH D REGD B/E 5.00000000                        | CUSIP: 661870LS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034366.10   | 1.16%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N TX MUNI WTR D 5.25% 06/01/43 | N TX MUNI WTR DIST REGL WSTWTR REGD B/E 5.25000000                        | CUSIP: 66283AKW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $550734.05    | 0.62%             | 2043-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NTHRN AK TOBACCO S 4% 06/01/50 | NTHRN AK TOBACCO SECURITIZATIO REGD B/E 4.00000000                        | CUSIP: 66585VBY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $88637.23     | 0.10%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NTHRN AK TOBACCO S 4% 06/01/50 | NTHRN AK TOBACCO SECURITIZATIO REGD B/E 4.00000000                        | CUSIP: 66585VCA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $29458.78     | 0.03%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AU 5% 12/01/41 | OHIO ST WTR DEV AUTH REVENUE REGD B/E 5.00000000                          | CUSIP: 67765QPK6<br>LEI: 549300QMBH1DMY67FZ74 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1137483.10   | 1.28%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AU 5% 12/01/43 | OHIO ST WTR DEV AUTH WTR POLL REGD B/E 5.00000000                         | CUSIP: 67766WT36<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1121640.20   | 1.26%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST WTR RE 5% 04/01/44 | OKLAHOMA ST WTR RESOURCE BRD R REGD B/E 5.00000000                        | CUSIP: 67919PVC4<br>LEI: 5493007CUNXW5UX11C71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1084280.10   | 1.22%             | 2044-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OMAHA NE PUBLIC 5.25% 02/01/48 | OMAHA NE PUBLIC PWR DIST ELEC REGD B/E 5.25000000                         | CUSIP: 682001JU7<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069805.10   | 1.20%             | 2048-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLT 5% 10/01/53 | ORANGE CNTY FL HLTH FACS AUTH REGD B/E 5.00000000                         | CUSIP: 68450LHL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031861.10   | 1.16%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST 5% 08/01/48          | OREGON ST REGD B/E 5.00000000                                             | CUSIP: 68609UFL4<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    250000 | PA      | $264505.30    | 0.30%             | 2048-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST 5.25% 11/01/37 | PENNSYLVANIA ST HGR EDUCTNL FA REGD B/E AGC 5.25000000                    | CUSIP: 70917TRL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1140439.90   | 1.28%             | 2037-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PIERCE CNTY WA SCH 5% 12/01/44 | PIERCE CNTY WA SCH DIST #10 TA REGD B/E SCH BD 5.00000000                 | CUSIP: 720424G38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $406463.13    | 0.46%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIERCE CNTY WA SCH 5% 12/01/48 | PIERCE CNTY WA SCH DIST #10 TA REGD B/E SCH BD 5.00000000                 | CUSIP: 720424G46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062611.60   | 1.20%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLANO TX INDEP SCH 5% 02/15/41 | PLANO TX INDEP SCH DIST REGD B/E PSF-GTD 5.00000000                       | CUSIP: 727199F63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1121712.10   | 1.26%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW Y 5% 07/15/41 | PORT AUTH OF NEW YORK & NEW JE REGD B/E 5.00000000                        | CUSIP: 73358XJL7<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    500000 | PA      | $562357.70    | 0.63%             | 2041-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF PORTLAND O 5% 07/01/38 | PORT OF PORTLAND OR ARPT REVEN REGD B/E AMT 5.00000000                    | CUSIP: 7352403C5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1109296.10   | 1.25%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCE GEORGES CNT 5% 08/01/40 | PRINCE GEORGES CNTY MD REGD B/E 5.00000000                                | CUSIP: 741702BN3<br>LEI: 549300NSQ1W50I0VU811 | Long             | DBT              | MUN               | US        |    500000 | PA      | $564296.30    | 0.63%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCE WILLIAM CNT 5% 07/15/31 | PRINCE WILLIAM CNTY VA SVC AUT REGD N/C B/E 5.00000000                    | CUSIP: 741765HD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $257326.18    | 0.29%             | 2031-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH W V/R 06/15/63 | PUBLIC FIN AUTH WI MUNI CTFS REGD V/R OID B/E 3.62500000                  | CUSIP: 74449EAA1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    180000 | PA      | $180379.58    | 0.20%             | 2063-06-15      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SAL 4.75% 07/01/53 | PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000                    | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    664000 | PA      | $647481.54    | 0.73%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES ZCP 07/01/46 | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000                | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    125000 | PA      | $44963.83     | 0.05%             | 2046-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SA 4.784% 07/01/58 | PUERTO RICO SALES TAX FING COR REGD OID B/E 4.78400000                    | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    216000 | PA      | $209285.06    | 0.24%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CA 5.5% 05/01/55 | SAN FRANCISCO CA CITY &CNTY AR REGD B/E AMT 5.50000000                    | CUSIP: 79766DXQ7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1076827.10   | 1.21%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| S E ALABAMA ST GA V/R 08/01/54 | S E ALABAMA ST GAS SPLY DIST G REGD V/R B/E 5.00000000                    | CUSIP: 84131TBA9<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085457.00   | 1.22%             | 2054-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY  V/R 05/01/53 | SOUTHEAST ENERGY AUTH AL COMMO REGD V/R B/E 5.00000000                    | CUSIP: 84136FBB2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    500000 | PA      | $525582.95    | 0.59%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY  V/R 01/01/54 | SOUTHEAST ENERGY AUTH AL COMMO REGD V/R B/E 5.25000000                    | CUSIP: 84136FBT3<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    965000 | PA      | $1030164.04   | 1.16%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY A 5% 02/01/30 | SOUTHEAST ENERGY AUTHORITY A C REGD N/C B/E 5.00000000                    | CUSIP: 84136HCC5<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1504544.58   | 1.69%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX 5.25% 12/01/49 | TARRANT CNTY TX CULTURAL EDU F REGD B/E 5.25000000                        | CUSIP: 87638QTJ8<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069516.20   | 1.20%             | 2049-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX C V/R 11/15/51 | TARRANT CNTY TX CULTURAL EDU F REGD V/R B/E 5.00000000                    | CUSIP: 87638TJX2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1218451.71   | 1.37%             | 2051-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP TN  V/R 10/01/53 | TENNERGY CORP TN GAS REVENUE REGD V/R B/E 5.50000000                      | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |    245000 | PA      | $267043.41    | 0.30%             | 2053-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ST ENERG 5% 12/01/35 | TENNESSEE ST ENERGY ACQUISITIO REGD B/E 5.00000000                        | CUSIP: 880443JM9<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |    600000 | PA      | $659876.82    | 0.74%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV  6% 01/01/55 | TENNESSEE HSG DEV AGY RSDL FIN REGD B/E GNMA/FN 6.00000000                | CUSIP: 88046KMG8<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |     95000 | PA      | $106919.11    | 0.12%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WTR DEV BRD  5% 10/15/47 | TEXAS WTR DEV BRD REVENUE REGD B/E 5.00000000                             | CUSIP: 88285ABH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528491.00    | 0.59%             | 2047-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WTR DEV BRD  5% 08/01/44 | TEXAS WTR DEV BRD REVENUE REGD B/E 5.00000000                             | CUSIP: 88285AHQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $555482.15    | 0.62%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZA 5% 06/01/48 | TOBACCO SECURITIZATION AUTH ST REGD B/E 5.00000000                        | CUSIP: 888804CR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252981.40    | 0.28%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT 5% 06/01/35 | TOBACCO SETTLEMENT FING CORP N REGD B/E 5.00000000                        | CUSIP: 888808HL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $520540.25    | 0.59%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY B 5.25% 05/15/52 | TRIBOROUGH NY BRIDGE & TUNNEL REGD B/E 5.25000000                         | CUSIP: 89602HDR5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    660000 | PA      | $692235.72    | 0.78%             | 2052-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRID 5% 05/15/40 | TRIBOROUGH NY BRIDGE & TUNNEL REGD B/E 5.00000000                         | CUSIP: 896035BT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1119234.20   | 1.26%             | 2040-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA 5% 05/15/47 | UNIV OF CALIFORNIA CA RGTS MED REGD B/E 5.00000000                        | CUSIP: 913366KS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063806.00   | 1.20%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF COLORADO C 5% 06/01/36 | UNIV OF COLORADO CO ENTERPRISE REGD B/E 5.00000000                        | CUSIP: 91417NKF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $286126.01    | 0.32%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG 5.15% 11/01/52 | VIRGINIA ST HSG DEV AUTH REGD B/E 5.15000000                              | CUSIP: 92812WGT5<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |     80000 | PA      | $82417.54     | 0.09%             | 2052-11-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PUB BL 5% 08/01/42 | VIRGINIA ST PUB BLDG AUTH PUBL REGD B/E 5.00000000                        | CUSIP: 928173EG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1131749.50   | 1.27%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG  4% 07/01/26 | WASHINGTON ST HSG FIN COMMISSI REGD N/C B/E 4.00000000                    | CUSIP: 93978LGB6<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    285000 | PA      | $284495.52    | 0.32%             | 2026-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| WASHINGTON SUBURBA 5% 06/01/43 | WASHINGTON SUBURBAN SAN DIST M REGD B/E CNTY GT 5.00000000                | CUSIP: 940158JP4<br>LEI: 549300EZUWNTQF827C24 | Long             | DBT              | MUN               | US        |    250000 | PA      | $282138.95    | 0.32%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIGHTLINE WEST WT EX 11/26/35 | BRIGHTLINE WEST EQUITY________  WARRANTS WARRANTS EXP 11/26/35 0.00000000 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |      5400 | NS      | $10800.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-30

**Name of Applicant:** Morgan Stanley Pathway Funds

**Signature:** James F. Kirchner

**Name of Signer:** James F. Kirchner

**Title:** Chief Financial Officer