# EDGAR Filing Document

**Accession Number:** 0001343793
**File Stem:** 0001752724-25-157941
**Filing Date:** 2025-6
**Character Count:** 227324
**Document Hash:** 8bad7e9ed774c7039f6ee3a91d2a2b9e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-157941.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-157941

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Long-Term Municipal Advantage Trust
- **CENTRAL INDEX KEY:** 0001343793

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21835
- **FILM NUMBER:** 251077010

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BlackRock Municipal Advantage Income Trust
- **DATE OF NAME CHANGE:** 20051108

## Nport-Ex

April 30, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

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

**BlackRock Long-Term Municipal Advantage Trust (BTA)**<br>

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

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

April 30, 2025

**BlackRock Long-Term Municipal Advantage Trust (BTA)** 

**(Percentages shown are based on Net Assets)**

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

---

| | | |
|:---|:---|:---|
| *Security* | *Par* <br>*(000)*<br>| *Value* |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Alabama — 4.8%** | **Alabama — 4.8%** |  |
| &nbsp;&nbsp;&nbsp; County of Jefferson Alabama Sewer Revenue, Refunding <br> RB, 5.50%, 10/01/53<br>| $320 | &nbsp;&nbsp; $326688 |
| &nbsp;&nbsp;&nbsp; Energy Southeast A Cooperative District, RB, Series B, <br> 5.25%, 07/01/54<br>| 285 | &nbsp;&nbsp; 301405 |
| &nbsp;&nbsp;&nbsp; Hoover Industrial Development Board, RB, AMT, <br> Sustainability Bonds, 6.38%, 11/01/50<sup>(a)</sup><br>| 1040 | &nbsp;&nbsp; 1148277 |
| Mobile County Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 06/01/54 | 1620 | &nbsp;&nbsp; 1534973 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 4.75%, 12/01/54 | 650 | &nbsp;&nbsp; 591639 |
| Southeast Energy Authority A Cooperative District, RB<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 11/01/51 | 1300 | &nbsp;&nbsp; 1292494 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 01/01/56 | 500 | &nbsp;&nbsp; 512208 |
| &nbsp;&nbsp;&nbsp; Series A-1, 5.50%, 01/01/53 | 470 | &nbsp;&nbsp; 498054 |
| &nbsp;&nbsp;&nbsp; Tuscaloosa County Industrial Development Authority, <br> Refunding RB, Series A, 5.25%, 05/01/44<sup>(b)</sup><br>| 160 | &nbsp;&nbsp; 154468 |
|  |  | &nbsp;&nbsp; 6360206 |
| **Arizona — 5.1%** | **Arizona — 5.1%** |  |
| Arizona Industrial Development Authority, Refunding RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 07/01/52 | 855 | &nbsp;&nbsp; 787205 |
| &nbsp;&nbsp;&nbsp; Series A, 5.13%, 07/01/37 | 360 | &nbsp;&nbsp; 360732 |
| &nbsp;&nbsp;&nbsp; Series A, 5.38%, 07/01/50 | 925 | &nbsp;&nbsp; 908201 |
| &nbsp;&nbsp;&nbsp; Series G, 5.00%, 07/01/47 | 135 | &nbsp;&nbsp; 127214 |
| &nbsp;&nbsp;&nbsp; Industrial Development Authority of the City of Phoenix <br> Arizona, RB, Series A, 5.00%, 07/01/46<sup>(b)</sup><br>| 1255 | &nbsp;&nbsp; 1171685 |
| &nbsp;&nbsp;&nbsp; Industrial Development Authority of the County of Pima, <br> Refunding RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/15/51 | 955 | &nbsp;&nbsp; 754294 |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/01/56 | 230 | &nbsp;&nbsp; 184400 |
| &nbsp;&nbsp;&nbsp; Maricopa County Industrial Development Authority, RB, <br> AMT, 4.00%, 10/15/47<sup>(b)</sup><br>| 735 | &nbsp;&nbsp; 604339 |
| &nbsp;&nbsp;&nbsp; Maricopa County Industrial Development Authority, <br> Refunding RB, Series A, 4.13%, 09/01/38<br>| 375 | &nbsp;&nbsp; 352968 |
| Salt Verde Financial Corp., RB, 5.00%, 12/01/37 | 725 | &nbsp;&nbsp; 753329 |
| Sierra Vista Industrial Development Authority, RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 06/15/53 | 510 | &nbsp;&nbsp; 514162 |
| &nbsp;&nbsp;&nbsp; 6.38%, 06/15/64 | 235 | &nbsp;&nbsp; 240257 |
|  |  | &nbsp;&nbsp; 6758786 |
| **Arkansas**<sup>(b)</sup> **— 3.5%** | **Arkansas**<sup>(b)</sup> **— 3.5%** |  |
| Arkansas Development Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 4.50%, 09/01/49 | 825 | &nbsp;&nbsp; 727024 |
| &nbsp;&nbsp;&nbsp; AMT, 4.75%, 09/01/49 | 3570 | &nbsp;&nbsp; 3257016 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, Sustainability Bonds, 6.88%, 07/01/48 | 600 | &nbsp;&nbsp; 630277 |
|  |  | &nbsp;&nbsp; 4614317 |
| **California — 10.5%** | **California — 10.5%** |  |
| &nbsp;&nbsp;&nbsp; California County Tobacco Securitization Agency, Refunding <br> RB, Series A, 5.00%, 06/01/47<br>| 140 | &nbsp;&nbsp; 133298 |
| &nbsp;&nbsp;&nbsp; California Enterprise Development Authority, RB, 8.00%, <br> 11/15/62<sup>(b)</sup><br>| 205 | &nbsp;&nbsp; 199702 |
| &nbsp;&nbsp;&nbsp; California Infrastructure & Economic Development Bank, <br> Refunding RB, Series A, Class B, AMT, Sustainability <br> Bonds, 9.50%, 01/01/65<sup>(a)(b)</sup><br>| 5315 | &nbsp;&nbsp; 5111932 |
| &nbsp;&nbsp;&nbsp; California Public Finance Authority, RB, Series A, 6.38%, <br> 06/01/59<sup>(b)</sup><br>| 1025 | &nbsp;&nbsp; 926851 |
| &nbsp;&nbsp;&nbsp; City of Los Angeles Department of Airports, ARB, AMT, <br> Sustainability Bonds, 5.25%, 05/15/47<br>| 1100 | &nbsp;&nbsp; 1127703 |
| &nbsp;&nbsp;&nbsp; CSCDA Community Improvement Authority, RB, M/F <br> Housing<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 3.00%, 09/01/56 | 725 | &nbsp;&nbsp; 466794 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **California (continued)** | **California (continued)** |  |
| &nbsp;&nbsp;&nbsp; CSCDA Community Improvement Authority, RB, M/F <br> Housing<sup>(b)</sup> (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; Mezzanine Lien, 4.00%, 03/01/57 | 330 | &nbsp;&nbsp; $226639 |
| &nbsp;&nbsp;&nbsp; Series B, Sustainability Bonds, 4.00%, 07/01/58 | 200 | &nbsp;&nbsp; 114675 |
| &nbsp;&nbsp;&nbsp; Golden State Tobacco Securitization Corp., Refunding RB, <br> CAB, Series B-2, Subordinate, 0.00%, 06/01/66<sup>(c)</sup><br>| 6795 | &nbsp;&nbsp; 723814 |
| &nbsp;&nbsp;&nbsp; Hastings Campus Housing Finance Authority, RB, CAB, <br> Sub-Series A, Sustainability Bonds, 6.75%, 07/01/61<sup>(b)(d)</sup><br>| 830 | &nbsp;&nbsp; 390830 |
| &nbsp;&nbsp;&nbsp; Indio Finance Authority, Refunding RB, Series A, (BAM), <br> 4.50%, 11/01/52<br>| 595 | &nbsp;&nbsp; 572570 |
| &nbsp;&nbsp;&nbsp; Inland Empire Tobacco Securitization Corp., RB, Series C-1, <br> 0.00%, 06/01/36<sup>(c)</sup><br>| 1800 | &nbsp;&nbsp; 800162 |
| &nbsp;&nbsp;&nbsp; Rancho Mirage Community Facilities District, ST, Series A, <br> 5.00%, 09/01/54<br>| 170 | &nbsp;&nbsp; 166830 |
| &nbsp;&nbsp;&nbsp; Regents of the University of California Medical Center <br> Pooled Revenue, RB, Series P, 4.00%, 05/15/53<br>| 935 | &nbsp;&nbsp; 837898 |
| &nbsp;&nbsp;&nbsp; San Marcos Unified School District, GO, CAB, Series B, <br> Election 2010, 0.00%, 08/01/38<sup>(c)</sup><br>| 3725 | &nbsp;&nbsp; 2117436 |
|  |  | &nbsp;&nbsp; 13917134 |
| **Colorado — 7.2%** | **Colorado — 7.2%** |  |
| Centerra Metropolitan District No. 1, TA, 5.00%, 12/01/47<sup>(b)</sup> | 275 | &nbsp;&nbsp; 245098 |
| &nbsp;&nbsp;&nbsp; City & County of Denver Colorado Airport System Revenue, <br> Refunding ARB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 4.13%, 11/15/53 | 320 | &nbsp;&nbsp; 282866 |
| &nbsp;&nbsp;&nbsp; Series D, AMT, 5.75%, 11/15/45 | 790 | &nbsp;&nbsp; 841440 |
| Colorado Health Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/01/39 | 145 | &nbsp;&nbsp; 151832 |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/01/47 | 90 | &nbsp;&nbsp; 93540 |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/01/52 | 220 | &nbsp;&nbsp; 225960 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 05/15/35 | 140 | &nbsp;&nbsp; 119627 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 05/15/44 | 180 | &nbsp;&nbsp; 137005 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 05/15/49 | 290 | &nbsp;&nbsp; 209416 |
| &nbsp;&nbsp;&nbsp; Constitution Heights Metropolitan District, Refunding GOL, <br> 5.00%, 12/01/49<br>| 500 | &nbsp;&nbsp; 443904 |
| &nbsp;&nbsp;&nbsp; Creekwalk Marketplace Business Improvement District, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 6.00%, 12/01/54 | 890 | &nbsp;&nbsp; 808362 |
| &nbsp;&nbsp;&nbsp; Series B, 8.00%, 12/15/54 | 228 | &nbsp;&nbsp; 228975 |
| &nbsp;&nbsp;&nbsp; Denver Convention Center Hotel Authority, Refunding RB, <br> 5.00%, 12/01/40<br>| 1550 | &nbsp;&nbsp; 1502841 |
| &nbsp;&nbsp;&nbsp; Elbert County Independence Water & Sanitation District, <br> Refunding RB, 5.13%, 12/01/33<br>| 500 | &nbsp;&nbsp; 497365 |
| &nbsp;&nbsp;&nbsp; Fitzsimons Village Metropolitan District No. 3, Refunding <br> GOL, Series A-1, 4.00%, 12/01/31<br>| 500 | &nbsp;&nbsp; 475764 |
| &nbsp;&nbsp;&nbsp; Gold Hill North Business Improvement District, GOL, <br> Series A, 5.60%, 12/01/54<sup>(b)</sup><br>| 500 | &nbsp;&nbsp; 483599 |
| &nbsp;&nbsp;&nbsp; Independence Metropolitan District No. 3, GOL, Series B, <br> 7.13%, 12/15/54<br>| 500 | &nbsp;&nbsp; 502417 |
| &nbsp;&nbsp;&nbsp; Independence Metropolitan District No. 3, Refunding GOL, <br> Series A, 5.38%, 12/01/54<br>| 500 | &nbsp;&nbsp; 481240 |
| Loretto Heights Community Authority, RB, 4.88%, 12/01/51 | 500 | &nbsp;&nbsp; 374106 |
| &nbsp;&nbsp;&nbsp; Redtail Ridge Metropolitan District, GOL, CAB, 0.00%, <br> 12/01/32<sup>(c)</sup><br>| 1717 | &nbsp;&nbsp; 985317 |
| &nbsp;&nbsp;&nbsp; Waters' Edge Metropolitan District No. 2, GOL, 5.00%, <br> 12/01/51<br>| 500 | &nbsp;&nbsp; 420347 |
|  |  | &nbsp;&nbsp; 9511021 |
| **Connecticut — 0.3%** | **Connecticut — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; Connecticut State Health & Educational Facilities Authority, <br> RB, Series A, 5.00%, 01/01/55<sup>(b)</sup><br>| 160 | &nbsp;&nbsp; 131322 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock Long-Term Municipal Advantage Trust (BTA)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Connecticut (continued)** | **Connecticut (continued)** |  |
| Stamford Housing Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 6.50%, 10/01/55 | 155 | &nbsp;&nbsp; $156565 |
| &nbsp;&nbsp;&nbsp; Series A, 6.25%, 10/01/60 | 110 | &nbsp;&nbsp; 108111 |
|  |  | &nbsp;&nbsp; 395998 |
| **Delaware**<sup>(b)</sup> **— 0.5%** | **Delaware**<sup>(b)</sup> **— 0.5%** |  |
| &nbsp;&nbsp;&nbsp; Affordable Housing Opportunities Trust, RB, Series AH-01, <br> Class B, 6.88%, 05/01/39<br>| 445 | &nbsp;&nbsp; 415813 |
| Town of Bridgeville Delaware, ST |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/01/44 | 100 | &nbsp;&nbsp; 98645 |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/01/53 | 100 | &nbsp;&nbsp; 100686 |
|  |  | &nbsp;&nbsp; 615144 |
| **District of Columbia — 1.0%** | **District of Columbia — 1.0%** |  |
| District of Columbia, TA, 5.13%, 06/01/41 | 590 | &nbsp;&nbsp; 590597 |
| &nbsp;&nbsp;&nbsp; Metropolitan Washington Airports Authority Dulles Toll Road <br> Revenue, Refunding RB, Series B, Subordinate, 4.00%, <br> 10/01/49<br>| 870 | &nbsp;&nbsp; 749445 |
|  |  | &nbsp;&nbsp; 1340042 |
| **Florida — 17.6%** | **Florida — 17.6%** |  |
| &nbsp;&nbsp;&nbsp; Antillia Community Development District, SAB, 5.88%, <br> 05/01/54<br>| 110 | &nbsp;&nbsp; 111041 |
| &nbsp;&nbsp;&nbsp; Berry Bay II Community Development District, SAB, <br> Series 2024, 5.45%, 05/01/54<br>| 110 | &nbsp;&nbsp; 105536 |
| Brevard County Health Facilities Authority, Refunding RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/15/29 | 100 | &nbsp;&nbsp; 96244 |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/15/33 | 625 | &nbsp;&nbsp; 579864 |
| &nbsp;&nbsp;&nbsp; Buckhead Trails Community Development District, SAB, <br> Series 2022, 5.75%, 05/01/52<br>| 145 | &nbsp;&nbsp; 148839 |
| Capital Projects Finance Authority, RB, 6.63%, 06/15/59<sup>(b)</sup> | 100 | &nbsp;&nbsp; 100652 |
| &nbsp;&nbsp;&nbsp; Capital Region Community Development District, Refunding <br> SAB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, 5.13%, 05/01/39 | 195 | &nbsp;&nbsp; 191832 |
| &nbsp;&nbsp;&nbsp; Series A-2, 4.60%, 05/01/31 | 305 | &nbsp;&nbsp; 299681 |
| Capital Trust Agency, Inc., RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/01/55<sup>(b)</sup> | 1290 | &nbsp;&nbsp; 1147226 |
| &nbsp;&nbsp;&nbsp; Series A, 5.75%, 06/01/54<sup>(b)</sup> | 450 | &nbsp;&nbsp; 336138 |
| &nbsp;&nbsp;&nbsp; Series B, 0.00%, 01/01/60<sup>(c)</sup> | 3000 | &nbsp;&nbsp; 221043 |
| Capital Trust Agency, Inc., RB, CAB<sup>(b)(c)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 07/01/61 | 8315 | &nbsp;&nbsp; 504003 |
| &nbsp;&nbsp;&nbsp; Subordinate, 0.00%, 01/01/61 | 5565 | &nbsp;&nbsp; 384661 |
| Capital Trust Authority, Refunding RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.75%, 06/15/40 | 100 | &nbsp;&nbsp; 94248 |
| &nbsp;&nbsp;&nbsp; Series A, 5.13%, 06/15/50 | 100 | &nbsp;&nbsp; 93352 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 06/15/59 | 100 | &nbsp;&nbsp; 91960 |
| &nbsp;&nbsp;&nbsp; City of Fort Lauderdale Florida Water & Sewer Revenue, <br> RB, Series B, 5.50%, 09/01/53<br>| 970 | &nbsp;&nbsp; 1038259 |
| City of Tampa Florida, RB, Series A, 5.00%, 11/15/46 | 2000 | &nbsp;&nbsp; 2001851 |
| &nbsp;&nbsp;&nbsp; Coral Creek Community Development District, SAB, 5.75%, <br> 05/01/54<br>| 100 | &nbsp;&nbsp; 100077 |
| &nbsp;&nbsp;&nbsp; County of Miami-Dade Seaport Department, Refunding RB, <br> Series A, AMT, 5.25%, 10/01/52<br>| 350 | &nbsp;&nbsp; 354631 |
| &nbsp;&nbsp;&nbsp; County of Osceola Florida Transportation Revenue, <br> Refunding RB, CAB<sup>(c)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-2, 0.00%, 10/01/47 | 745 | &nbsp;&nbsp; 220829 |
| &nbsp;&nbsp;&nbsp; Series A-2, 0.00%, 10/01/48 | 525 | &nbsp;&nbsp; 156747 |
| &nbsp;&nbsp;&nbsp; Series A-2, 0.00%, 10/01/49 | 435 | &nbsp;&nbsp; 121829 |
| &nbsp;&nbsp;&nbsp; Crosswinds East Community Development District, SAB, <br> 5.75%, 05/01/54<br>| 100 | &nbsp;&nbsp; 100077 |
| Curiosity Creek Community Development District, SAB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.40%, 05/01/44 | 50 | &nbsp;&nbsp; 49493 |
| &nbsp;&nbsp;&nbsp; 5.70%, 05/01/55 | 80 | &nbsp;&nbsp; 77486 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Florida (continued)** | **Florida (continued)** |  |
| &nbsp;&nbsp;&nbsp; Escambia County Health Facilities Authority, Refunding RB, <br> 4.00%, 08/15/45<br>| $2325 | &nbsp;&nbsp; $1980990 |
| Florida Development Finance Corp., RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 06/01/55 | 525 | &nbsp;&nbsp; 468563 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/30/57<sup>(e)(f)</sup> | 142 | &nbsp;&nbsp; 37740 |
| &nbsp;&nbsp;&nbsp; Series B, 4.50%, 12/15/56 | 705 | &nbsp;&nbsp; 508414 |
| &nbsp;&nbsp;&nbsp; Series C, 5.75%, 12/15/56 | 250 | &nbsp;&nbsp; 200752 |
| &nbsp;&nbsp;&nbsp; AMT, 10.00%, 07/15/59<sup>(a)</sup> | 1110 | &nbsp;&nbsp; 1140188 |
| &nbsp;&nbsp;&nbsp; Class A, AMT, 4.38%, 10/01/54<sup>(a)</sup> | 310 | &nbsp;&nbsp; 306453 |
| Florida Development Finance Corp., Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 12.00%, 07/15/32<sup>(a)(b)</sup> | 1390 | &nbsp;&nbsp; 1445644 |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 5.00%, 07/01/44 | 1010 | &nbsp;&nbsp; 996197 |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 5.25%, 07/01/47 | 300 | &nbsp;&nbsp; 301233 |
| &nbsp;&nbsp;&nbsp; Golden Gem Community Development District, SAB, 6.00%, <br> 05/01/55<br>| 605 | &nbsp;&nbsp; 606831 |
| &nbsp;&nbsp;&nbsp; Hammock Oaks Community Development District, SAB, <br> 6.15%, 05/01/54<br>| 135 | &nbsp;&nbsp; 136002 |
| Hobe-St Lucie Conservancy District, SAB, 5.88%, 05/01/55 | 100 | &nbsp;&nbsp; 100099 |
| Lakes of Sarasota Community Development District, SAB |  |  |
| &nbsp;&nbsp;&nbsp; 3.90%, 05/01/41 | 285 | &nbsp;&nbsp; 240579 |
| &nbsp;&nbsp;&nbsp; Series B-1, 4.13%, 05/01/41 | 200 | &nbsp;&nbsp; 175912 |
| &nbsp;&nbsp;&nbsp; Series B-1, 4.30%, 05/01/51 | 100 | &nbsp;&nbsp; 82934 |
| Lakewood Ranch Stewardship District, SAB |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 05/01/46 | 315 | &nbsp;&nbsp; 304495 |
| &nbsp;&nbsp;&nbsp; 6.30%, 05/01/54 | 118 | &nbsp;&nbsp; 121683 |
| &nbsp;&nbsp;&nbsp; Series 1B, 4.75%, 05/01/29 | 235 | &nbsp;&nbsp; 235553 |
| &nbsp;&nbsp;&nbsp; Series 1B, 5.30%, 05/01/39 | 310 | &nbsp;&nbsp; 310102 |
| &nbsp;&nbsp;&nbsp; Series 1B, 5.45%, 05/01/48 | 550 | &nbsp;&nbsp; 539994 |
| &nbsp;&nbsp;&nbsp; Lee County Industrial Development Authority, RB, <br> Series B-1, 4.75%, 11/15/29<br>| 130 | &nbsp;&nbsp; 130369 |
| &nbsp;&nbsp;&nbsp; Marion Ranch Community Development District, SAB, <br> 5.95%, 05/01/54<br>| 150 | &nbsp;&nbsp; 152202 |
| North AR-1 Pasco Community Development District, SAB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.75%, 05/01/44 | 85 | &nbsp;&nbsp; 86804 |
| &nbsp;&nbsp;&nbsp; Series A, 6.00%, 05/01/54 | 85 | &nbsp;&nbsp; 86543 |
| &nbsp;&nbsp;&nbsp; Orange County Health Facilities Authority, Refunding RB, <br> Series A, 5.25%, 10/01/56<br>| 460 | &nbsp;&nbsp; 470549 |
| Parrish Plantation Community Development District, SAB |  |  |
| &nbsp;&nbsp;&nbsp; 5.80%, 05/01/44 | 100 | &nbsp;&nbsp; 102474 |
| &nbsp;&nbsp;&nbsp; 6.05%, 05/01/54 | 120 | &nbsp;&nbsp; 122596 |
| &nbsp;&nbsp;&nbsp; Poitras East Community Development District, SAB, 5.00%, <br> 05/01/43<br>| 245 | &nbsp;&nbsp; 232975 |
| &nbsp;&nbsp;&nbsp; Seminole Palms Community Development District, SAB, <br> 5.50%, 05/01/55<sup>(b)</sup><br>| 130 | &nbsp;&nbsp; 125304 |
| Tolomato Community Development District, SAB |  |  |
| &nbsp;&nbsp;&nbsp; 4.80%, 05/01/44 | 280 | &nbsp;&nbsp; 254080 |
| &nbsp;&nbsp;&nbsp; 5.13%, 05/01/54 | 280 | &nbsp;&nbsp; 249364 |
| Trout Creek Community Development District, SAB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/01/28 | 100 | &nbsp;&nbsp; 101020 |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/01/49 | 570 | &nbsp;&nbsp; 569983 |
| Village Community Development District No. 14, SAB |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/01/42 | 395 | &nbsp;&nbsp; 402017 |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/01/53 | 290 | &nbsp;&nbsp; 297662 |
| &nbsp;&nbsp;&nbsp; Volusia County Educational Facility Authority, RB, 5.25%, <br> 06/01/49<br>| 365 | &nbsp;&nbsp; 364439 |
| West Villages Improvement District, SAB |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 05/01/39 | 220 | &nbsp;&nbsp; 210824 |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/01/50 | 450 | &nbsp;&nbsp; 417788 |
|  |  | &nbsp;&nbsp; 23344950 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock Long-Term Municipal Advantage Trust (BTA)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Georgia — 5.8%** | **Georgia — 5.8%** |  |
| Atlanta Development Authority, TA<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 04/01/34 | $230 | &nbsp;&nbsp; $226726 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 04/01/39 | 355 | &nbsp;&nbsp; 358040 |
| &nbsp;&nbsp;&nbsp; Development Authority of Cobb County, RB, Series A, <br> 6.38%, 06/15/58<sup>(b)</sup><br>| 100 | &nbsp;&nbsp; 99210 |
| &nbsp;&nbsp;&nbsp; East Point Business & Industrial Development Authority, RB, <br> Series A, 5.25%, 06/15/62<sup>(b)</sup><br>| 110 | &nbsp;&nbsp; 74250 |
| Main Street Natural Gas, Inc., RB<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/01/53 | 3500 | &nbsp;&nbsp; 3614497 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 12/01/52 | 1230 | &nbsp;&nbsp; 1267550 |
| &nbsp;&nbsp;&nbsp; Main Street Natural Gas, Inc., Refunding RB, Series E-2, <br> 4.62%, 12/01/53<sup>(a)</sup><br>| 1605 | &nbsp;&nbsp; 1587595 |
| &nbsp;&nbsp;&nbsp; Municipal Electric Authority of Georgia, RB, Series A, <br> 5.00%, 07/01/52<br>| 460 | &nbsp;&nbsp; 463306 |
|  |  | &nbsp;&nbsp; 7691174 |
| **Illinois — 8.1%** | **Illinois — 8.1%** |  |
| Chicago Board of Education, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.25%, 12/01/35 | 795 | &nbsp;&nbsp; 795073 |
| &nbsp;&nbsp;&nbsp; Series D, 5.00%, 12/01/46 | 1035 | &nbsp;&nbsp; 979312 |
| &nbsp;&nbsp;&nbsp; Series H, 5.00%, 12/01/36 | 935 | &nbsp;&nbsp; 882566 |
| Chicago Board of Education, Refunding GO |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.00%, 12/01/27 | 415 | &nbsp;&nbsp; 420232 |
| &nbsp;&nbsp;&nbsp; Series C, 5.00%, 12/01/34 | 940 | &nbsp;&nbsp; 940238 |
| &nbsp;&nbsp;&nbsp; Chicago Transit Authority Sales Tax Receipts Fund, <br> Refunding RB, Series A, Senior Lien, 4.00%, 12/01/49<br>| 640 | &nbsp;&nbsp; 548501 |
| &nbsp;&nbsp;&nbsp; City of Chicago Illinois, Refunding GO, Series A, 6.00%, <br> 01/01/38<br>| 595 | &nbsp;&nbsp; 605537 |
| City of Marion Illinois Sales Tax Revenue, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 06/01/45 | 250 | &nbsp;&nbsp; 245030 |
| &nbsp;&nbsp;&nbsp; 6.63%, 06/01/55 | 460 | &nbsp;&nbsp; 456485 |
| County of Cook Illinois, RB, M/F Housing, 6.50%, 01/01/45 | 750 | &nbsp;&nbsp; 756672 |
| &nbsp;&nbsp;&nbsp; Illinois Finance Authority, Refunding RB, Series A, 4.00%, <br> 07/15/47<br>| 1815 | &nbsp;&nbsp; 1617141 |
| &nbsp;&nbsp;&nbsp; Illinois Housing Development Authority, RB, S/F Housing, <br> Series G, Sustainability Bonds, (FHLMC, FNMA, GNMA), <br> 6.25%, 10/01/52<br>| 735 | &nbsp;&nbsp; 786088 |
| &nbsp;&nbsp;&nbsp; Illinois State Toll Highway Authority, RB, Series A, 4.00%, <br> 01/01/46<br>| 500 | &nbsp;&nbsp; 453466 |
| Metropolitan Pier & Exposition Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/57 | 555 | &nbsp;&nbsp; 526741 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 06/15/53 | 200 | &nbsp;&nbsp; 200202 |
| Metropolitan Pier & Exposition Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/15/50 | 410 | &nbsp;&nbsp; 338701 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 06/15/52 | 225 | &nbsp;&nbsp; 214792 |
|  |  | &nbsp;&nbsp; 10766777 |
| **Indiana — 0.8%** | **Indiana — 0.8%** |  |
| &nbsp;&nbsp;&nbsp; City of Vincennes Indiana, Refunding RB, 6.25%, <br> 01/01/29<sup>(b)(e)(f)</sup><br>| 810 | &nbsp;&nbsp; 494100 |
| &nbsp;&nbsp;&nbsp; Indiana Finance Authority, RB, Series A, AMT, 6.75%, <br> 05/01/39<br>| 515 | &nbsp;&nbsp; 571204 |
|  |  | &nbsp;&nbsp; 1065304 |
| **Iowa — 1.2%** | **Iowa — 1.2%** |  |
| &nbsp;&nbsp;&nbsp; Iowa Finance Authority, Refunding RB, Series E, 4.00%, <br> 08/15/46<br>| 1815 | &nbsp;&nbsp; 1543705 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Kentucky — 1.8%** | **Kentucky — 1.8%** |  |
| &nbsp;&nbsp;&nbsp; Kentucky Public Energy Authority, RB, Series C, 4.00%, <br> 02/01/50<sup>(a)</sup><br>| $1690 | &nbsp;&nbsp; $1684220 |
| &nbsp;&nbsp;&nbsp; Kentucky Public Transportation Infrastructure Authority, RB, <br> CAB, Convertible, 6.75%, 07/01/43<sup>(d)</sup><br>| 565 | &nbsp;&nbsp; 640237 |
|  |  | &nbsp;&nbsp; 2324457 |
| **Louisiana — 0.6%** | **Louisiana — 0.6%** |  |
| Louisiana Public Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 6.50%, 06/01/62<sup>(b)</sup> | 105 | &nbsp;&nbsp; 97749 |
| &nbsp;&nbsp;&nbsp; AMT, 5.75%, 09/01/64 | 660 | &nbsp;&nbsp; 683706 |
|  |  | &nbsp;&nbsp; 781455 |
| **Maine — 1.1%** | **Maine — 1.1%** |  |
| Finance Authority of Maine, RB |  |  |
| &nbsp;&nbsp;&nbsp; 12/31/32<sup>(g)</sup> | 150 | &nbsp;&nbsp; 150000 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 8.00%, 12/01/51<sup>(b)(e)(f)</sup> | 380 | &nbsp;&nbsp; 124450 |
| &nbsp;&nbsp;&nbsp; Finance Authority of Maine, Refunding RB, AMT, 4.63%, <br> 12/01/47<sup>(a)(b)</sup><br>| 175 | &nbsp;&nbsp; 173001 |
| &nbsp;&nbsp;&nbsp; Maine Health & Higher Educational Facilities Authority, <br> Refunding RB, 4.00%, 07/01/37<sup>(b)</sup><br>| 1100 | &nbsp;&nbsp; 967754 |
|  |  | &nbsp;&nbsp; 1415205 |
| **Maryland — 1.5%** | **Maryland — 1.5%** |  |
| City of Baltimore Maryland, RB, 4.88%, 06/01/42 | 120 | &nbsp;&nbsp; 118207 |
| &nbsp;&nbsp;&nbsp; Maryland Economic Development Corp., RB, Class B, AMT, <br> Sustainability Bonds, 5.25%, 06/30/47<br>| 380 | &nbsp;&nbsp; 381273 |
| &nbsp;&nbsp;&nbsp; Maryland Health & Higher Educational Facilities Authority, <br> RB, 7.00%, 03/01/55<sup>(b)</sup><br>| 1480 | &nbsp;&nbsp; 1510977 |
|  |  | &nbsp;&nbsp; 2010457 |
| **Massachusetts — 1.6%** | **Massachusetts — 1.6%** |  |
| &nbsp;&nbsp;&nbsp; Massachusetts Development Finance Agency, RB, Series A, <br> 5.00%, 01/01/47<br>| 860 | &nbsp;&nbsp; 816636 |
| Massachusetts Housing Finance Agency, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 4.45%, 12/01/42 | 310 | &nbsp;&nbsp; 289062 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 4.50%, 12/01/47 | 1030 | &nbsp;&nbsp; 960726 |
|  |  | &nbsp;&nbsp; 2066424 |
| **Michigan — 1.8%** | **Michigan — 1.8%** |  |
| Michigan Finance Authority, RB, 4.00%, 02/15/50 | 2000 | &nbsp;&nbsp; 1763457 |
| Michigan Strategic Fund, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 11/15/42 | 165 | &nbsp;&nbsp; 164304 |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 12/31/43 | 500 | &nbsp;&nbsp; 499999 |
|  |  | &nbsp;&nbsp; 2427760 |
| **Minnesota — 0.8%** | **Minnesota — 0.8%** |  |
| &nbsp;&nbsp;&nbsp; Duluth Economic Development Authority, Refunding RB, <br> Series A, 5.25%, 02/15/58<br>| 655 | &nbsp;&nbsp; 655180 |
| &nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency, RB, S/F Housing, <br> Series M, Sustainability Bonds, (FHLMC, FNMA, GNMA), <br> 6.00%, 01/01/53<br>| 430 | &nbsp;&nbsp; 450980 |
|  |  | &nbsp;&nbsp; 1106160 |
| **Missouri — 1.0%** | **Missouri — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Industrial Development Authority of the City of St. Louis <br> Missouri, Refunding RB, Series A, 4.38%, 11/15/35<br>| 330 | &nbsp;&nbsp; 301762 |
| Kansas City Industrial Development Authority, ARB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 5.00%, 03/01/49 | 425 | &nbsp;&nbsp; 421585 |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 5.00%, 03/01/55 | 425 | &nbsp;&nbsp; 421495 |
| Kansas City Industrial Development Authority, RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, 5.00%, 06/01/46 | 130 | &nbsp;&nbsp; 122224 |
| &nbsp;&nbsp;&nbsp; Series A-1, 5.00%, 06/01/54 | 100 | &nbsp;&nbsp; 91574 |
|  |  | &nbsp;&nbsp; 1358640 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock Long-Term Municipal Advantage Trust (BTA)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Nebraska — 0.2%** | **Nebraska — 0.2%** |  |
| &nbsp;&nbsp;&nbsp; Omaha Airport Authority, ARB, AMT, (AGC), 5.25%, <br> 12/15/54<br>| $275 | &nbsp;&nbsp; $281709 |
| **New Hampshire — 3.6%** | **New Hampshire — 3.6%** |  |
| New Hampshire Business Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 12/15/33<sup>(b)(g)</sup> | 520 | &nbsp;&nbsp; 516466 |
| &nbsp;&nbsp;&nbsp; 5.25%, 12/01/35<sup>(b)</sup> | 733 | &nbsp;&nbsp; 715421 |
| &nbsp;&nbsp;&nbsp; 5.38%, 12/15/35<sup>(b)</sup> | 783 | &nbsp;&nbsp; 763110 |
| &nbsp;&nbsp;&nbsp; Series A, 4.13%, 08/15/40 | 260 | &nbsp;&nbsp; 226654 |
| &nbsp;&nbsp;&nbsp; Series A, 4.25%, 08/15/46 | 290 | &nbsp;&nbsp; 236874 |
| &nbsp;&nbsp;&nbsp; Series A, 4.50%, 08/15/55 | 600 | &nbsp;&nbsp; 475734 |
| &nbsp;&nbsp;&nbsp; New Hampshire Business Finance Authority, RB, CAB, <br> 0.00%, 12/15/33<sup>(b)(c)</sup><br>| 2020 | &nbsp;&nbsp; 1155198 |
| &nbsp;&nbsp;&nbsp; New Hampshire Business Finance Authority, RB, M/F <br> Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp; Class B, 5.75%, 04/28/42 | 320 | &nbsp;&nbsp; 322500 |
| &nbsp;&nbsp;&nbsp; Series 2, Sustainability Bonds, 4.25%, 07/20/41 | 331 | &nbsp;&nbsp; 315151 |
|  |  | &nbsp;&nbsp; 4727108 |
| **New Jersey — 6.1%** | **New Jersey — 6.1%** |  |
| New Jersey Economic Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/15/28<sup>(h)</sup> | 70 | &nbsp;&nbsp; 74572 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/43 | 125 | &nbsp;&nbsp; 126669 |
| &nbsp;&nbsp;&nbsp; New Jersey Economic Development Authority, Refunding <br> SAB, 5.75%, 04/01/31<br>| 785 | &nbsp;&nbsp; 802999 |
| &nbsp;&nbsp;&nbsp; New Jersey Higher Education Student Assistance Authority, <br> RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 4.25%, 12/01/45 | 140 | &nbsp;&nbsp; 136385 |
| &nbsp;&nbsp;&nbsp; Series C, AMT, Subordinate, 4.25%, 12/01/50 | 1340 | &nbsp;&nbsp; 1125824 |
| &nbsp;&nbsp;&nbsp; New Jersey Higher Education Student Assistance Authority, <br> Refunding RB, Sub-Series C, AMT, 3.63%, 12/01/49<br>| 645 | &nbsp;&nbsp; 476547 |
| &nbsp;&nbsp;&nbsp; New Jersey Transportation Trust Fund Authority, RB, <br> Series AA, 5.00%, 06/15/45<br>| 585 | &nbsp;&nbsp; 577168 |
| Tobacco Settlement Financing Corp., Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/01/35 | 730 | &nbsp;&nbsp; 743982 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 06/01/46 | 1700 | &nbsp;&nbsp; 1707392 |
| &nbsp;&nbsp;&nbsp; Sub-Series B, 5.00%, 06/01/46 | 2460 | &nbsp;&nbsp; 2355224 |
|  |  | &nbsp;&nbsp; 8126762 |
| **New York — 17.8%** | **New York — 17.8%** |  |
| &nbsp;&nbsp;&nbsp; Erie Tobacco Asset Securitization Corp., Refunding RB, <br> Series A, 5.00%, 06/01/45<br>| 910 | &nbsp;&nbsp; 814811 |
| &nbsp;&nbsp;&nbsp; Metropolitan Transportation Authority, Refunding RB, <br> Series C-1, Sustainability Bonds, 4.75%, 11/15/45<br>| 985 | &nbsp;&nbsp; 980735 |
| &nbsp;&nbsp;&nbsp; New York City Housing Development Corp., Refunding RB, <br> Series A, Sustainability Bonds, 4.15%, 11/01/38<br>| 1955 | &nbsp;&nbsp; 1863424 |
| &nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority Future Tax <br> Secured Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Sub-Series B-1, 4.00%, 11/01/45 | 4000 | &nbsp;&nbsp; 3663514 |
| &nbsp;&nbsp;&nbsp; Series A-1, Subordinate, 4.00%, 08/01/48 | 555 | &nbsp;&nbsp; 504750 |
| New York Counties Tobacco Trust IV, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 6.25%, 06/01/41<sup>(b)</sup> | 900 | &nbsp;&nbsp; 899983 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/01/42 | 1505 | &nbsp;&nbsp; 1325641 |
| &nbsp;&nbsp;&nbsp; New York Counties Tobacco Trust VI, Refunding RB, <br> Series A-2B, 5.00%, 06/01/51<br>| 1000 | &nbsp;&nbsp; 883775 |
| New York Liberty Development Corp., Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Class 1, 5.00%, 11/15/44<sup>(b)</sup> | 1415 | &nbsp;&nbsp; 1406208 |
| &nbsp;&nbsp;&nbsp; Class 2, 5.38%, 11/15/40<sup>(b)</sup> | 395 | &nbsp;&nbsp; 394985 |
| &nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, 3.00%, 11/15/51 | 505 | &nbsp;&nbsp; 346843 |
| &nbsp;&nbsp;&nbsp; New York Power Authority, Refunding RB, Series A, <br> Sustainability Bonds, 4.00%, 11/15/55<br>| 565 | &nbsp;&nbsp; 500569 |
| New York State Dormitory Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 03/15/50 | 1610 | &nbsp;&nbsp; 1660673 |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 03/15/54 | 880 | &nbsp;&nbsp; 776173 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **New York (continued)** | **New York (continued)** |  |
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority, Refunding <br> RB (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 03/15/55 | 740 | &nbsp;&nbsp; $758440 |
| New York Transportation Development Corp., ARB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.63%, 04/01/40 | 260 | &nbsp;&nbsp; 269406 |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 12/01/40 | 555 | &nbsp;&nbsp; 559257 |
| New York Transportation Development Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 10/01/35 | 560 | &nbsp;&nbsp; 567824 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, (AGM), 5.13%, 06/30/60 | 1750 | &nbsp;&nbsp; 1757582 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, (AGM), 5.25%, 06/30/60 | 1230 | &nbsp;&nbsp; 1238844 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp., Refunding <br> ARB, Series A, AMT, 5.38%, 08/01/36<br>| 730 | &nbsp;&nbsp; 745930 |
| &nbsp;&nbsp;&nbsp; Westchester County Local Development Corp., Refunding <br> RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/01/41 | 340 | &nbsp;&nbsp; 338604 |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/01/56 | 380 | &nbsp;&nbsp; 356956 |
| &nbsp;&nbsp;&nbsp; Westchester Tobacco Asset Securitization Corp., Refunding <br> RB, Sub-Series C, 4.00%, 06/01/42<br>| 1170 | &nbsp;&nbsp; 1022211 |
|  |  | &nbsp;&nbsp; 23637138 |
| **North Carolina — 0.4%** | **North Carolina — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; North Carolina Housing Finance Agency, RB, S/F Housing, <br> Sustainability Bonds, (FHLMC, FNMA, GNMA), 6.00%, <br> 07/01/53<br>| 500 | &nbsp;&nbsp; 527463 |
| **North Dakota — 0.4%** | **North Dakota — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; City of Grand Forks North Dakota, RB, Series A, (AGM), <br> 5.00%, 12/01/53<br>| 525 | &nbsp;&nbsp; 517696 |
| **Ohio — 2.5%** | **Ohio — 2.5%** |  |
| &nbsp;&nbsp;&nbsp; Buckeye Tobacco Settlement Financing Authority, Refunding <br> RB, Series B-2, Class 2, 5.00%, 06/01/55<br>| 500 | &nbsp;&nbsp; 430461 |
| &nbsp;&nbsp;&nbsp; Buckeye Tobacco Settlement Financing Authority, Refunding <br> RB, CAB, Series B-3, Class 2, 0.00%, 06/01/57<sup>(c)</sup><br>| 1580 | &nbsp;&nbsp; 149421 |
| Cleveland-Cuyahoga County Port Authority, Refunding RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.38%, 01/01/39 | 100 | &nbsp;&nbsp; 95966 |
| &nbsp;&nbsp;&nbsp; Series A, 5.88%, 01/01/49 | 150 | &nbsp;&nbsp; 142275 |
| County of Hamilton Ohio, Refunding RB, 4.00%, 08/15/50 | 800 | &nbsp;&nbsp; 685844 |
| &nbsp;&nbsp;&nbsp; Ohio Air Quality Development Authority, RB, AMT, 4.50%, <br> 01/15/48<sup>(b)</sup><br>| 705 | &nbsp;&nbsp; 620912 |
| State of Ohio, RB, AMT, 5.00%, 06/30/53 | 1220 | &nbsp;&nbsp; 1212639 |
|  |  | &nbsp;&nbsp; 3337518 |
| **Oklahoma — 3.0%** | **Oklahoma — 3.0%** |  |
| Oklahoma Development Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 09/01/51<sup>(b)</sup> | 2180 | &nbsp;&nbsp; 2163043 |
| &nbsp;&nbsp;&nbsp; Series B, 5.50%, 08/15/52 | 765 | &nbsp;&nbsp; 765938 |
| &nbsp;&nbsp;&nbsp; Tulsa Authority for Economic Opportunity, TA, 4.38%, <br> 12/01/41<sup>(b)</sup><br>| 155 | &nbsp;&nbsp; 146393 |
| &nbsp;&nbsp;&nbsp; Tulsa County Industrial Authority, Refunding RB, 5.25%, <br> 11/15/45<br>| 925 | &nbsp;&nbsp; 931209 |
|  |  | &nbsp;&nbsp; 4006583 |
| **Oregon — 0.2%** | **Oregon — 0.2%** |  |
| &nbsp;&nbsp;&nbsp; Clackamas County School District No. 12 North Clackamas, <br> GO, CAB, Series A, (GTD), 0.00%, 06/15/38<sup>(c)</sup><br>| 625 | &nbsp;&nbsp; 329653 |
| **Pennsylvania — 5.8%** | **Pennsylvania — 5.8%** |  |
| &nbsp;&nbsp;&nbsp; Allentown Neighborhood Improvement Zone Development <br> Authority, RB, 5.00%, 05/01/42<sup>(b)</sup><br>| 1235 | &nbsp;&nbsp; 1235538 |
| &nbsp;&nbsp;&nbsp; City of Philadelphia Pennsylvania Water & Wastewater <br> Revenue, Refunding RB, Series B, (AGM), 4.50%, <br> 09/01/48<br>| 800 | &nbsp;&nbsp; 771219 |
| Doylestown Hospital Authority, Refunding RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/01/31 | 100 | &nbsp;&nbsp; 105517 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock Long-Term Municipal Advantage Trust (BTA)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Pennsylvania (continued)** | **Pennsylvania (continued)** |  |
| Doylestown Hospital Authority, Refunding RB<sup>(b)</sup> (continued) |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 07/01/39 | 155 | &nbsp;&nbsp; $167314 |
| &nbsp;&nbsp;&nbsp; Lancaster Municipal Authority, RB, Series B, 5.00%, <br> 05/01/59<br>| 140 | &nbsp;&nbsp; 131021 |
| &nbsp;&nbsp;&nbsp; Montgomery County Industrial Development Authority, RB, <br> Series C, 5.00%, 11/15/45<br>| 95 | &nbsp;&nbsp; 94311 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Economic Development Financing Authority, <br> RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/30/42 | 465 | &nbsp;&nbsp; 457971 |
| &nbsp;&nbsp;&nbsp; AMT, 5.75%, 06/30/48 | 335 | &nbsp;&nbsp; 344535 |
| &nbsp;&nbsp;&nbsp; AMT, 5.25%, 06/30/53 | 560 | &nbsp;&nbsp; 561334 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Economic Development Financing Authority, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series B, 5.25%, 12/01/38<sup>(a)</sup> | 240 | &nbsp;&nbsp; 240491 |
| &nbsp;&nbsp;&nbsp; Series C, 5.25%, 12/01/37<sup>(a)</sup> | 415 | &nbsp;&nbsp; 415847 |
| &nbsp;&nbsp;&nbsp; AMT, 5.50%, 11/01/44 | 720 | &nbsp;&nbsp; 715416 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Higher Education Assistance Agency, RB, <br> Sub-Series 1C, AMT, 5.00%, 06/01/51<br>| 100 | &nbsp;&nbsp; 95320 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Higher Educational Facilities Authority, RB, <br> 4.00%, 08/15/44<br>| 805 | &nbsp;&nbsp; 731892 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Housing Finance Agency, RB, S/F Housing, <br> Series 143A, Sustainability Bonds, 5.38%, 10/01/46<br>| 960 | &nbsp;&nbsp; 987022 |
| &nbsp;&nbsp;&nbsp; Philadelphia Authority for Industrial Development, RB, <br> 5.25%, 11/01/52<br>| 355 | &nbsp;&nbsp; 363445 |
| &nbsp;&nbsp;&nbsp; School District of Philadelphia, GOL, Series A, (SAW), <br> 5.50%, 09/01/48<br>| 220 | &nbsp;&nbsp; 231145 |
|  |  | &nbsp;&nbsp; 7649338 |
| **Puerto Rico — 5.8%** | **Puerto Rico — 5.8%** |  |
| Children's Trust Fund, RB, Series A, 0.00%, 05/15/57<sup>(c)</sup> | 6945 | &nbsp;&nbsp; 406902 |
| &nbsp;&nbsp;&nbsp; Commonwealth of Puerto Rico, GO, Series A-1, <br> Restructured, 5.75%, 07/01/31<br>| 784 | &nbsp;&nbsp; 825390 |
| Commonwealth of Puerto Rico, RB, 0.00%, 11/01/51<sup>(a)(e)(f)</sup> | 5559 | &nbsp;&nbsp; 3101325 |
| &nbsp;&nbsp;&nbsp; Puerto Rico Industrial Tourist Educational Medical & Envirml <br> Ctl Facs Fing Authority, ARB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, AMT, 6.75%, 01/01/45 | 100 | &nbsp;&nbsp; 112023 |
| &nbsp;&nbsp;&nbsp; Series A-2, AMT, 6.50%, 01/01/42 | 100 | &nbsp;&nbsp; 111822 |
| &nbsp;&nbsp;&nbsp; Series A-2, AMT, 6.75%, 01/01/45 | 100 | &nbsp;&nbsp; 112055 |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, <br> RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-2, Convertible, Restructured, 4.33%, 07/01/40 | 72 | &nbsp;&nbsp; 67441 |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 4.75%, 07/01/53 | 1517 | &nbsp;&nbsp; 1398028 |
| &nbsp;&nbsp;&nbsp; Series A-2, Restructured, 4.78%, 07/01/58 | 1038 | &nbsp;&nbsp; 948475 |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, <br> RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46<sup>(c)</sup><br>| 1714 | &nbsp;&nbsp; 549479 |
|  |  | &nbsp;&nbsp; 7632940 |
| **Rhode Island — 0.3%** | **Rhode Island — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; Tobacco Settlement Financing Corp., Refunding RB, <br> Series A, 5.00%, 06/01/40<br>| 420 | &nbsp;&nbsp; 419997 |
| **South Carolina — 1.0%** | **South Carolina — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; South Carolina Jobs-Economic Development Authority, RB, <br> 7.50%, 08/15/62<sup>(b)</sup><br>| 225 | &nbsp;&nbsp; 206005 |
| &nbsp;&nbsp;&nbsp; South Carolina Jobs-Economic Development Authority, <br> Refunding RB, Series A, 5.00%, 05/01/43<br>| 1110 | &nbsp;&nbsp; 1120887 |
|  |  | &nbsp;&nbsp; 1326892 |
| **Tennessee — 1.7%** | **Tennessee — 1.7%** |  |
| &nbsp;&nbsp;&nbsp; Metropolitan Government Nashville & Davidson County <br> Health & Educational cilities Board, Refunding RB, <br> 4.00%, 10/01/49<br>| 290 | &nbsp;&nbsp; 231172 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Tennessee (continued)** | **Tennessee (continued)** |  |
| &nbsp;&nbsp;&nbsp; Metropolitan Government Nashville & Davidson County <br> Industrial Development Board, SAB, CAB, 0.00%, <br> 06/01/43<sup>(b)(c)</sup><br>| 430 | &nbsp;&nbsp; $175859 |
| &nbsp;&nbsp;&nbsp; Metropolitan Government Nashville & Davidson County <br> Sports Authority, RB, Series A, Senior Lien, (AGM), <br> 5.25%, 07/01/48<br>| 585 | &nbsp;&nbsp; 613135 |
| Metropolitan Nashville Airport Authority, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.25%, 07/01/35 | 230 | &nbsp;&nbsp; 243193 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.50%, 07/01/36 | 190 | &nbsp;&nbsp; 204014 |
| Tennergy Corp., RB, Series A, 5.50%, 10/01/53<sup>(a)</sup> | 750 | &nbsp;&nbsp; 785742 |
|  |  | &nbsp;&nbsp; 2253115 |
| **Texas — 10.7%** | **Texas — 10.7%** |  |
| &nbsp;&nbsp;&nbsp; Angelina & Neches River Authority, RB, Series A, AMT, <br> 7.50%, 12/01/45<sup>(b)(e)(f)</sup><br>| 335 | &nbsp;&nbsp; 125625 |
| Arlington Higher Education Finance Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 04/01/62<sup>(b)</sup> | 230 | &nbsp;&nbsp; 220923 |
| &nbsp;&nbsp;&nbsp; 7.88%, 11/01/62<sup>(b)</sup> | 195 | &nbsp;&nbsp; 197605 |
| &nbsp;&nbsp;&nbsp; Series A, 5.75%, 08/15/62 | 500 | &nbsp;&nbsp; 366850 |
| City of Buda Texas, SAB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/01/55 | 150 | &nbsp;&nbsp; 145449 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/01/55 | 300 | &nbsp;&nbsp; 297079 |
| City of Corpus Christi Texas, SAB |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 09/15/31 | 100 | &nbsp;&nbsp; 98668 |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/15/44 | 100 | &nbsp;&nbsp; 94792 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/15/54 | 106 | &nbsp;&nbsp; 101452 |
| City of Crandall Texas, SAB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 09/15/45 | 50 | &nbsp;&nbsp; 47612 |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/15/55 | 100 | &nbsp;&nbsp; 93945 |
| City of Friendswood Texas, SAB, 7.00%, 09/15/54 | 301 | &nbsp;&nbsp; 301786 |
| City of Houston Texas Airport System Revenue, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.50%, 07/15/38 | 200 | &nbsp;&nbsp; 200945 |
| &nbsp;&nbsp;&nbsp; Series B-1, AMT, 5.00%, 07/15/30 | 240 | &nbsp;&nbsp; 238224 |
| &nbsp;&nbsp;&nbsp; City of Houston Texas Airport System Revenue, Refunding <br> ARB, Series A, AMT, 1st Lien, Subordinate, (AGM), <br> 5.25%, 07/01/48<br>| 340 | &nbsp;&nbsp; 348763 |
| City of Oak Point Texas, SAB, 5.25%, 09/15/54<sup>(b)</sup> | 140 | &nbsp;&nbsp; 128608 |
| &nbsp;&nbsp;&nbsp; Clifton Higher Education Finance Corp., RB, Series A, <br> 6.00%, 06/15/54<sup>(b)</sup><br>| 100 | &nbsp;&nbsp; 92574 |
| &nbsp;&nbsp;&nbsp; Club Municipal Management District No. 1, SAB, 5.38%, <br> 09/01/55<sup>(b)</sup><br>| 100 | &nbsp;&nbsp; 92548 |
| &nbsp;&nbsp;&nbsp; Dallas Independent School District, Refunding GO, (PSF), <br> 4.00%, 02/15/53<br>| 500 | &nbsp;&nbsp; 446279 |
| &nbsp;&nbsp;&nbsp; Del Valle Independent School District Texas, GO, (PSF), <br> 4.00%, 06/15/47<br>| 810 | &nbsp;&nbsp; 742590 |
| &nbsp;&nbsp;&nbsp; Midland County Fresh Water Supply District No. 1, RB, <br> CAB, Series A, 0.00%, 09/15/27<sup>(c)(h)</sup><br>| 5200 | &nbsp;&nbsp; 2913200 |
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp., RB, <br> Series A, 6.50%, 10/01/55<br>| 60 | &nbsp;&nbsp; 59720 |
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp., <br> Refunding RB, Series A, 6.75%, 10/01/52<br>| 600 | &nbsp;&nbsp; 602190 |
| Newark Higher Education Finance Corp., RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 08/15/35 | 135 | &nbsp;&nbsp; 135335 |
| &nbsp;&nbsp;&nbsp; Series A, 5.75%, 08/15/45 | 275 | &nbsp;&nbsp; 275286 |
| &nbsp;&nbsp;&nbsp; North Texas Tollway Authority, Refunding RB, 4.25%, <br> 01/01/49<br>| 890 | &nbsp;&nbsp; 797304 |
| Port of Beaumont Navigation District, Refunding RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 3.63%, 01/01/35 | 215 | &nbsp;&nbsp; 192689 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 4.00%, 01/01/50 | 815 | &nbsp;&nbsp; 635093 |
| San Antonio Education Facilities Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 10/01/41 | 85 | &nbsp;&nbsp; 70360 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 10/01/51 | 115 | &nbsp;&nbsp; 87527 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock Long-Term Municipal Advantage Trust (BTA)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Texas (continued)** | **Texas (continued)** |  |
| &nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facilities Finance Corp., <br> RB, 5.00%, 11/15/51<br>| 310 | &nbsp;&nbsp; $316144 |
| &nbsp;&nbsp;&nbsp; Texas Community Housing & Economic Development Corp., <br> RB, M/F Housing, Series A1, Senior Lien, 01/01/65<sup>(b)(g)</sup><br>| 570 | &nbsp;&nbsp; 523054 |
| &nbsp;&nbsp;&nbsp; Texas Municipal Gas Acquisition & Supply Corp. III, <br> Refunding RB, 5.00%, 12/15/32<br>| 1300 | &nbsp;&nbsp; 1354486 |
| &nbsp;&nbsp;&nbsp; Texas Private Activity Bond Surface Transportation Corp., <br> RB, AMT, Senior Lien, 5.50%, 12/31/58<br>| 800 | &nbsp;&nbsp; 812714 |
| &nbsp;&nbsp;&nbsp; Texas Transportation Commission State Highway <br> 249 System, RB, CAB, 0.00%, 08/01/43<sup>(c)</sup><br>| 2205 | &nbsp;&nbsp; 882054 |
| Texas Water Development Board, RB, 4.45%, 10/15/36 | 170 | &nbsp;&nbsp; 177871 |
|  |  | &nbsp;&nbsp; 14217344 |
| **Utah — 1.6%** | **Utah — 1.6%** |  |
| &nbsp;&nbsp;&nbsp; Black Desert Public Infrastructure District, SAB, 5.63%, <br> 12/01/53<sup>(b)</sup><br>| 205 | &nbsp;&nbsp; 199509 |
| County of Utah, RB, Series B, 4.00%, 05/15/47 | 750 | &nbsp;&nbsp; 645074 |
| &nbsp;&nbsp;&nbsp; Mida Mountain Village Public Infrastructure District, TA, <br> Series 1, 5.13%, 06/15/54<sup>(b)</sup><br>| 500 | &nbsp;&nbsp; 467543 |
| &nbsp;&nbsp;&nbsp; SkyRidge Pegasus Infrastructure Financing District, SAB, <br> 5.25%, 12/01/44<sup>(b)</sup><br>| 530 | &nbsp;&nbsp; 509559 |
| &nbsp;&nbsp;&nbsp; Utah Charter School Finance Authority, RB, Series A, <br> 5.00%, 06/15/52<sup>(b)</sup><br>| 225 | &nbsp;&nbsp; 186866 |
| Utah Infrastructure Agency, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/15/44 | 55 | &nbsp;&nbsp; 57159 |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/15/48 | 50 | &nbsp;&nbsp; 51292 |
|  |  | &nbsp;&nbsp; 2117002 |
| **Virginia — 2.8%** | **Virginia — 2.8%** |  |
| &nbsp;&nbsp;&nbsp; Ballston Quarter Community Development Authority, TA, <br> Series A-1, 5.50%, 03/01/46<br>| 267 | &nbsp;&nbsp; 276401 |
| &nbsp;&nbsp;&nbsp; Ballston Quarter Community Development Authority, TA, <br> CAB, Series A-2, 7.13%, 03/01/59<sup>(d)</sup><br>| 640 | &nbsp;&nbsp; 531858 |
| &nbsp;&nbsp;&nbsp; Hampton Roads Transportation Accountability Commission, <br> RB, Series A, Senior Lien, 4.00%, 07/01/55<br>| 245 | &nbsp;&nbsp; 215074 |
| James City County Economic Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 6.88%, 12/01/58 | 175 | &nbsp;&nbsp; 188876 |
| &nbsp;&nbsp;&nbsp; Series C3, 5.25%, 12/01/27 | 125 | &nbsp;&nbsp; 125120 |
| Norfolk Redevelopment & Housing Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 01/01/34 | 235 | &nbsp;&nbsp; 229162 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 01/01/49 | 455 | &nbsp;&nbsp; 394810 |
| &nbsp;&nbsp;&nbsp; Tobacco Settlement Financing Corp., Refunding RB, <br> Series B-1, 5.00%, 06/01/47<br>| 920 | &nbsp;&nbsp; 813560 |
| Virginia Beach Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 7.00%, 09/01/53 | 240 | &nbsp;&nbsp; 262419 |
| &nbsp;&nbsp;&nbsp; Series B3, 5.38%, 09/01/29 | 155 | &nbsp;&nbsp; 157377 |
| &nbsp;&nbsp;&nbsp; Virginia Housing Development Authority, RB, M/F Housing, <br> Series G, 4.90%, 11/01/42<br>| 500 | &nbsp;&nbsp; 511033 |
|  |  | &nbsp;&nbsp; 3705690 |
| **Washington — 1.0%** | **Washington — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Washington Health Care Facilities Authority, Refunding RB, <br> Series A, 5.00%, 08/01/44<br>| 485 | &nbsp;&nbsp; 478497 |
| Washington State Housing Finance Commission, RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.75%, 01/01/53 | 100 | &nbsp;&nbsp; 94423 |
| &nbsp;&nbsp;&nbsp; Series A, 5.88%, 01/01/59 | 100 | &nbsp;&nbsp; 94682 |
| &nbsp;&nbsp;&nbsp; Series B2, 3.95%, 07/01/29 | 380 | &nbsp;&nbsp; 380160 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Washington (continued)** | **Washington (continued)** |  |
| &nbsp;&nbsp;&nbsp; Washington State Housing Finance Commission, Refunding <br> RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/43 | 125 | &nbsp;&nbsp; $125270 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/48 | 115 | &nbsp;&nbsp; 114221 |
|  |  | &nbsp;&nbsp; 1287253 |
| **West Virginia — 1.3%** | **West Virginia — 1.3%** |  |
| &nbsp;&nbsp;&nbsp; Morgantown Utility Board, Inc., RB, Series B, 4.00%, <br> 12/01/48<br>| 1895 | &nbsp;&nbsp; 1669654 |
| **Wisconsin — 7.3%** | **Wisconsin — 7.3%** |  |
| Public Finance Authority, ARB, AMT, 4.25%, 07/01/54 | 750 | &nbsp;&nbsp; 609068 |
| Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/31<sup>(b)(e)(f)</sup> | 290 | &nbsp;&nbsp; 24650 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/41<sup>(b)</sup> | 165 | &nbsp;&nbsp; 130784 |
| &nbsp;&nbsp;&nbsp; 7.00%, 10/01/47<sup>(b)(e)(f)</sup> | 290 | &nbsp;&nbsp; 24650 |
| &nbsp;&nbsp;&nbsp; 5.75%, 12/01/54<sup>(b)</sup> | 445 | &nbsp;&nbsp; 433318 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/55<sup>(b)</sup> | 440 | &nbsp;&nbsp; 306554 |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/01/56<sup>(b)</sup> | 710 | &nbsp;&nbsp; 576046 |
| &nbsp;&nbsp;&nbsp; Class A, 5.00%, 06/15/56<sup>(b)</sup> | 230 | &nbsp;&nbsp; 172008 |
| &nbsp;&nbsp;&nbsp; Class A, 6.45%, 04/01/60<sup>(b)</sup> | 150 | &nbsp;&nbsp; 141147 |
| &nbsp;&nbsp;&nbsp; Series A, 7.75%, 07/01/43<sup>(b)</sup> | 1190 | &nbsp;&nbsp; 1208952 |
| &nbsp;&nbsp;&nbsp; Series A, 4.75%, 06/15/56<sup>(b)</sup> | 725 | &nbsp;&nbsp; 554808 |
| &nbsp;&nbsp;&nbsp; Series A, 7.50%, 07/01/59<sup>(b)</sup> | 1080 | &nbsp;&nbsp; 1185229 |
| &nbsp;&nbsp;&nbsp; Series A-1, 4.50%, 01/01/35<sup>(b)</sup> | 550 | &nbsp;&nbsp; 532190 |
| &nbsp;&nbsp;&nbsp; Series A-4, 5.50%, 11/15/32<sup>(b)</sup> | 870 | &nbsp;&nbsp; 841081 |
| &nbsp;&nbsp;&nbsp; Series B, 0.00%, 01/01/35<sup>(b)(c)</sup> | 925 | &nbsp;&nbsp; 508248 |
| &nbsp;&nbsp;&nbsp; Series B, 0.00%, 01/01/60<sup>(b)(c)</sup> | 16025 | &nbsp;&nbsp; 1180771 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 4.00%, 09/30/51 | 475 | &nbsp;&nbsp; 377894 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 4.00%, 03/31/56 | 455 | &nbsp;&nbsp; 352925 |
| &nbsp;&nbsp;&nbsp; Public Finance Authority, RB, CAB, Series B, 0.00%, <br> 01/01/61<sup>(b)(c)</sup><br>| 6500 | &nbsp;&nbsp; 453356 |
|  |  | &nbsp;&nbsp; 9613679 |
| **Wyoming — 0.3%** | **Wyoming — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; University of Wyoming, RB, Series C, (AGM), 4.00%, <br> 06/01/51<br>| 500 | &nbsp;&nbsp; 441304 |
| **Total Municipal Bonds — 150.4%** <br>**(Cost: $207,143,877)** | **Total Municipal Bonds — 150.4%** <br>**(Cost: $207,143,877)** | &nbsp;&nbsp; 199240954 |
| **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(i)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(i)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(i)</sup> |
| **Alabama — 4.9%** | **Alabama — 4.9%** |  |
| &nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, RB, Series C-1, 5.25%, <br> 02/01/53<sup>(a)</sup><br>| 6194 | &nbsp;&nbsp; 6467569 |
| **Florida — 1.9%** | **Florida — 1.9%** |  |
| &nbsp;&nbsp;&nbsp; Hillsborough County Aviation Authority, ARB, Class B, AMT, <br> 5.50%, 10/01/54<br>| 2520 | &nbsp;&nbsp; 2612085 |
| **New York — 1.1%** | **New York — 1.1%** |  |
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, ARB, Series 221, <br> AMT, 4.00%, 07/15/55<br>| 1720 | &nbsp;&nbsp; 1469938 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock Long-Term Municipal Advantage Trust (BTA)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Pennsylvania — 1.3%** | **Pennsylvania — 1.3%** |  |
| &nbsp;&nbsp;&nbsp; City of Philadelphia Pennsylvania Water & Wastewater <br> Revenue, Refunding RB, Series B, (AGM), 5.50%, <br> 09/01/53<br>| $1601 | &nbsp;&nbsp; $1691026 |
| **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 9.2%** <br>**(Cost: $12,410,184)** | **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 9.2%** <br>**(Cost: $12,410,184)** | &nbsp;&nbsp; 12240618 |
| **Total Long-Term Investments — 159.6%** <br>**(Cost: $219,554,061)** | **Total Long-Term Investments — 159.6%** <br>**(Cost: $219,554,061)** | &nbsp;&nbsp; 211481572 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.3%** | **Money Market Funds — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, MuniCash, Institutional Shares, <br> 3.05%<sup>(j)(k)</sup><br>| 434805 | &nbsp;&nbsp; 434849 |
| **Total Short-Term Securities — 0.3%** <br>**(Cost: $434,845)** | **Total Short-Term Securities — 0.3%** <br>**(Cost: $434,845)** | &nbsp;&nbsp; 434849 |
| **Total Investments — 159.9%** <br>**(Cost: $219,988,906)** | **Total Investments — 159.9%** <br>**(Cost: $219,988,906)** | &nbsp;&nbsp; 211916421 |
| **Other Assets Less Liabilities — 2.5%** | **Other Assets Less Liabilities — 2.5%** | &nbsp;&nbsp; 3255176 |
| **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (5.3)%** | **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (5.3)%** | &nbsp;&nbsp; (6975729)<br>|
| **VRDP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(57.1)%** | **VRDP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(57.1)%** | &nbsp;&nbsp; (75699301)<br>|
| **Net Assets Applicable to Common Shares — 100.0%** | **Net Assets Applicable to Common Shares — 100.0%** | &nbsp;&nbsp; $132496567 |

---

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

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Zero-coupon bond.

<sup>(d)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step- down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(e)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(f)</sup> Non-income producing security.

<sup>(g)</sup> When-issued security.

<sup>(h)</sup> U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par. 

<sup>(i)</sup> Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing. 

<sup>(j)</sup> Affiliate of the Fund.

<sup>(k)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/31/24*<br>| *Purchases* <br>*at Cost*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*04/30/25*<br>| *Shares* <br>*Held at* <br>*04/30/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Liquidity Funds, MuniCash, Institutional Shares | $3173120 | $—<br> $(2738272 )<sup>(a)</sup><br>| &nbsp;&nbsp; $47 | $(46)<br>| $434849 | 434805 | $37205 | $— |

---

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

<sup>(a)</sup> Represents net amount purchased (sold).

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock Long-Term Municipal Advantage Trust (BTA)** 

**Fair Value Hierarchy as of Period End (continued)**

funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $199240954 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $199240954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds Transferred to Tender Option Bond Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12240618 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12240618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 434849 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 434849 |
|  | &nbsp;&nbsp; $434849 | &nbsp;&nbsp;&nbsp;&nbsp; $211481572 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $211916421 |

---

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the fair value hierarchy as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TOB Trust Certificates | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(6915013)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(6915013)<br>|
| &nbsp;&nbsp;&nbsp; VRDP Shares at Liquidation Value | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (76000000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (76000000)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(82915013)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(82915013)<br>|

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| AGC | Assured Guaranty Corp. |
| AGM | Assured Guaranty Municipal Corp. |
| AMT | Alternative Minimum Tax |
| ARB | Airport Revenue Bonds  |
| BAM | Build America Mutual Assurance Co. |
| CAB | Capital Appreciation Bonds |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| GO | General Obligation Bonds |
| GOL | General Obligation Ltd. |
| GTD | GTD Guaranteed |
| M/F | Multi-Family |
| PSF | Permanent School Fund |
| RB | Revenue Bonds |
| S/F | Single-Family |
| SAB | Special Assessment Bonds |
| SAN | State Aid Notes  |
| SAW | State Aid Withholding |
| ST | Special Tax |
| TA | Tax Allocation |

---

Schedule of Investments

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Long-Term Municipal Advantage Trust

- **b. Investment Company Act file number:** 811-21835

- **c. CIK number of Registrant:** 0001343793

- **d. LEI of Registrant:** G3XW7SJTEWPATVFP0M68

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

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock Long-Term Municipal Advantage Trust

- **c. LEI of Series:** G3XW7SJTEWPATVFP0M68

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $217806828.31

**Total Liabilities:** $85308163.89

**Net Assets:** $132498664.42

**Delayed Delivery Securities:** $1187176.40

**Cash Not Reported:** $35156.75

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 7265.94000000 | **1-Year:** 2046.53000000 | **5-Year:** 28814.04000000 | **10-Year:** 18358.20000000 | **30-Year:** 44662.67000000

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

- **3-Month:** 204.11000000 | **1-Year:** 333.48000000 | **5-Year:** 13189.67000000 | **10-Year:** 22592.44000000 | **30-Year:** 61264.34000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.74%                | -3.01%               | -3.00%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $478403.65               | $1383493.73                                |
| Month 2  | $348458.78               | $-5071349.85                               |
| Month 3  | $-449540.17              | $-4144350.46                               |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ballston Quarter Community Development Authority                                 | BALLSTON QUARTER CMNTY DEV AUTH VA REVENUE                   | CUSIP: 058696AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $531857.77    | 0.40%             | 2059-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $344534.49    | 0.26%             | 2048-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima/The                       | PIMA CNTY AZ INDL DEV AUTH EDU REVENUE                       | CUSIP: 72177MUQ8<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    955000 | PA      | $754294.44    | 0.57%             | 2051-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KBS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $310102.15    | 0.23%             | 2039-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                           | OHIO ST AIR QUALITY DEV AUTH EXEMPT FACS REVENUE             | CUSIP: 67754AAE4<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    705000 | PA      | $620912.06    | 0.47%             | 2048-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI CHRT SCH REVENUE                          | CUSIP: 744396GZ9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    230000 | PA      | $172008.25    | 0.13%             | 2056-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Marcos Unified School District                                               | SAN MARCOS CA UNIF SCH DIST                                  | CUSIP: 798755DG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3725000 | PA      | $2117435.80   | 1.60%             | 2038-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| University of Wyoming                                                            | UNIV OF WYOMING WY UNIV REVENUES                             | CUSIP: 915268J31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $441303.75    | 0.33%             | 2051-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116HR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1238843.72   | 0.93%             | 2060-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kansas City Industrial Development Authority                                     | KANSAS CITY MO INDL DEV AUTH ECON ACTIVITY TAX REVENUE       | CUSIP: 48502MAA1<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |    130000 | PA      | $122224.35    | 0.09%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Poitras East Community Development District                                      | POITRAS EAST CDD FL SPL ASSMNT REVENUE                       | CUSIP: 73086BAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $232975.18    | 0.18%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE        | CUSIP: 708686DZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $715415.85    | 0.54%             | 2044-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTH COOPERATIVE DIST AL ENERGY SUPPLY REVE | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512207.26    | 0.39%             | 2056-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PA70<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1208952.01   | 0.91%             | 2043-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| City of Marion IL Sales Tax Revenue                                              | MARION IL SALES TAX REVENUE                                  | CUSIP: 569498AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $245029.74    | 0.18%             | 2045-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Omaha Airport Authority                                                          | OMAHA NE ARPT AUTH                                           | CUSIP: 681725NL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $281708.98    | 0.21%             | 2054-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Elbert County Independence Water & Sanitation District                           | INDEPENDENCE WTR & SANTN DIST CO SPL REVENUE                 | CUSIP: 45380AAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $497365.08    | 0.38%             | 2033-12-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Allentown Neighborhood Improvement Zone Development Authority                    | ALLENTOWN PA NEIGHBORHOOD IMPT ZONE DEV AUTH TAX REVENUE     | CUSIP: 018444CC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1235538.20   | 0.93%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL REVENUE                                 | CUSIP: 14052WDR5<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   8315000 | PA      | $504003.58    | 0.38%             | 2061-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                         | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080YB1<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    140000 | PA      | $136385.08    | 0.10%             | 2045-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                      | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DEE8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1267549.94   | 0.96%             | 2052-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Vincennes IN                                                             | VINCENNES IN ECON DEV REVENUE                                | CUSIP: 927216BR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $494100.00    | 0.37%             | 2029-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116FQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $559257.01    | 0.42%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990KHC0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    740000 | PA      | $758439.82    | 0.57%             | 2055-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tulsa County Industrial Authority                                                | TULSA CNTY OK INDL AUTH SENIOR LIVING CMNTY REVENUE          | CUSIP: 899530BA6<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    925000 | PA      | $931208.64    | 0.70%             | 2045-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                              | CUSIP: 888808HL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $743982.41    | 0.56%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Infrastructure Agency                                                       | UTAH INFRASTRUCTURE AGY TELECOMUNICATION REVENUE             | CUSIP: 917467DC3<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |     50000 | PA      | $51291.66     | 0.04%             | 2048-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                 | MARICOPA CNTY INDL DEV AUTH EXEMPT FACS REVENUE              | CUSIP: 56678TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $604339.38    | 0.46%             | 2047-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Sports Authority             | MET GOVT NASHVILLE & DAVIDSONCNTY TN SPORTS AUTH             | CUSIP: 592090JY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $613135.05    | 0.46%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                                       | STAMFORD CT HSG AUTH                                         | CUSIP: 852640AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $108111.28    | 0.08%             | 2060-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH ENVRNMNTL REVENUE                        | CUSIP: 455054BD7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    515000 | PA      | $571203.77    | 0.43%             | 2039-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Doylestown Hospital Authority                                                    | DOYLESTOWN PA HOSP AUTH                                      | CUSIP: 261333HH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105516.56    | 0.08%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Independence Metropolitan District No 3                                          | INDEPENDENCE MET DIST #3 CO                                  | CUSIP: 453625AE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502416.95    | 0.38%             | 2054-12-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                                       | STAMFORD CT HSG AUTH                                         | CUSIP: 852640AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $156564.38    | 0.12%             | 2055-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | PUERTO RICO INDL TOURIST EDUCTNL MED & ENVRNMNTL CONTROL FAC | CUSIP: 74528LAB7<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    100000 | PA      | $111822.01    | 0.08%             | 2042-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349HY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200945.22    | 0.15%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp                                        | WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | CUSIP: 95737TEU6<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    380000 | PA      | $356956.09    | 0.27%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buckhead Trails Community Development District                                   | BUCKHEAD TRAILS CDD FL SPL ASSMNT                            | CUSIP: 11836UAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $148839.00    | 0.11%             | 2052-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Hampton Roads Transportation Accountability Commission                           | HAMPTON ROADS VA TRANSPRTN ACCOUNTABILITY COMMISSION         | CUSIP: 409328AU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $215074.23    | 0.16%             | 2055-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                   | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $430461.16    | 0.32%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                          | ENERGY S E AL A COOPERATIVE DIST ENERGY SPLY REVENUE         | CUSIP: 292723BN2<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |    285000 | PA      | $301405.07    | 0.23%             | 2054-07-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                            | SAN ANTONIO TX EDU FACS CORP REVENUE                         | CUSIP: 796247DX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $70360.27     | 0.05%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116GZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1757582.28   | 1.33%             | 2060-06-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Black Desert Public Infrastructure District                                      | BLACK DESERT PUB INFRASTRUCTURE DIST UT SPL ASSMNT           | CUSIP: 09204TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $199509.52    | 0.15%             | 2053-12-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Crosswinds East Community Development District                                   | CROSSWINDS EAST CDD FL SPL ASSMNT                            | CUSIP: 22769LAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100077.42    | 0.08%             | 2054-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Norfolk Redevelopment & Housing Authority                                        | NORFOLK VA REDEV & HSG AUTH REVENUE                          | CUSIP: 655909CM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $394809.73    | 0.30%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Navigation District                                             | PORT BEAUMONT TX NAV DIST DOCK& WHARF FAC REVENUE            | CUSIP: 73360CAC8<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    215000 | PA      | $192688.57    | 0.15%             | 2035-01-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Mida Mountain Village Public Infrastructure District                             | MIDA MOUNTAIN VLG PUBLIC INFRASTRUCTURE DIST UT TAX ALLOCATI | CUSIP: 59561UAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $467542.84    | 0.35%             | 2054-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                   | CUSIP: 70869PHX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $457970.86    | 0.35%             | 2042-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Trout Creek Community Development District                                       | TROUT CREEK CDD FL CAPITAL IMPT REVENUE                      | CUSIP: 897188AE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101020.41    | 0.08%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust IV                                               | NEW YORK CNTYS NY TOBACCO TRUST IV                           | CUSIP: 62947YAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1325641.23   | 1.00%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TH30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $186866.13    | 0.14%             | 2052-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                 | MARICOPA CNTY AZ INDL DEV AUTH HOSP REVENUE                  | CUSIP: 56678PAR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $352967.58    | 0.27%             | 2038-09-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| East Point Business & Industrial Development Authority                           | EAST PT GA BUSINESS & INDL DEV AUTHORITY REVENUE             | CUSIP: 274502AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $74250.00     | 0.06%             | 2062-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tulsa Authority for Economic Opportunity                                         | TULSA OK AUTH ECON OPPTY TAX APPORTIONMENT REVENUE           | CUSIP: 899650AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $146393.20    | 0.11%             | 2041-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PRQ0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $453356.09    | 0.34%             | 2061-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Westchester Tobacco Asset Securitization Corp                                    | WESTCHESTER NY TOBACCO ASSET SECURITIZATION                  | CUSIP: 957480BS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1022211.01   | 0.77%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Corpus Christi TX                                                        | CORPUS CHRISTI TX SPL ASSMNT REVENUE                         | CUSIP: 220233AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98668.16     | 0.07%             | 2031-09-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WAQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330936 | PA      | $315151.38    | 0.24%             | 2041-07-20      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                                          | CAPITAL TRUST AUTH FL EDUCTNL FACS REVENUE                   | CUSIP: 14054WBQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93352.30     | 0.07%             | 2050-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $475734.05    | 0.36%             | 2055-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    783000 | PA      | $763109.40    | 0.58%             | 2035-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona/The              | PHOENIX AZ INDL DEV AUTH EDU REVENUE                         | CUSIP: 71885FFG7<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1171684.77   | 0.88%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cuyahoga County Port Authority                                         | CLEVELAND-CUYAHOGA CNTY OH PORT AUTH LEASE REVENUE           | CUSIP: 18610RCG7<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |    150000 | PA      | $142275.14    | 0.11%             | 2049-01-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP                                      | CUSIP: 340618DR5<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1010000 | PA      | $996196.88    | 0.75%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1517000 | PA      | $1398028.49   | 1.06%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 4423487R3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $238223.79    | 0.18%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Coral Creek Community Development District                                       | CORAL CREEK CDD FL SPL ASSMNT REVENUE                        | CUSIP: 217766AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100077.42    | 0.08%             | 2054-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519DC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $394984.90    | 0.30%             | 2040-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1211628.10   | 0.91%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority                                             | VIRGINIA BEACH VA DEV AUTH RSDL CARE FAC REVENUE             | CUSIP: 92774NBB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $262418.98    | 0.20%             | 2053-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FINANCE AUTHORITY OF MAINE                                                       | FINANCE AUTHORITY OF MAINE                                   | CUSIP: 000000000<br>LEI: 549300GS5P8CQR7H8P53 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150000.00    | 0.11%             | 2032-12-31      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PH32<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    445000 | PA      | $433318.38    | 0.33%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FWP5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    145000 | PA      | $151832.29    | 0.11%             | 2039-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                            | SAN ANTONIO TX EDU FACS CORP REVENUE                         | CUSIP: 796247DY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $87526.72     | 0.07%             | 2051-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    784056 | PA      | $825390.08    | 0.62%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP SOL WST DISP REVENUE                 | CUSIP: 34061XAG7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    310000 | PA      | $306453.37    | 0.23%             | 2054-10-01      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| City of Marion IL Sales Tax Revenue                                              | MARION IL SALES TAX REVENUE                                  | CUSIP: 569498AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $456485.04    | 0.34%             | 2055-06-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| County of Osceola FL Transportation Revenue                                      | OSCEOLA CNTY FL TRANSPRTN REVENUE                            | CUSIP: 688031FC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $220828.88    | 0.17%             | 2047-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KBT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $539994.37    | 0.41%             | 2048-05-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | LOUISIANA PUB FACS AUTH REVENUE                              | CUSIP: 546399SZ0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    660000 | PA      | $683705.71    | 0.52%             | 2064-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Brevard County Health Facilities Authority                                       | BREVARD CNTY FL HLTH FACS AUTH REVENUE                       | CUSIP: 107416PH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $96244.59     | 0.07%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Community Housing & Economic Development Corp                              | TEXAS CMNTY HSG & ECON DEV CORP RSDL DEV REVENUE             | CUSIP: 88231CAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $523054.41    | 0.39%             | 2065-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Golden Gem Community Development District                                        | GOLDEN GEM CDD FL SPL ASSMNT REVENUE                         | CUSIP: 38105CAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $606830.66    | 0.46%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Transportation Infrastructure Authority                          | KENTUCKY PUB TRANSPRTN INFRASTRUCTURE AUTH TOLL REVENUE      | CUSIP: 491397AU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $640236.92    | 0.48%             | 2043-07-01      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Indio Finance Authority                                                          | INDIO CA PUBLIC FING AUTH                                    | CUSIP: 45571LDS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $572569.93    | 0.43%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Nashville Airport Authority/The                                     | MET NASHVILLE TN ARPT AUTH ARPT REVENUE                      | CUSIP: 592190QR6<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |    190000 | PA      | $204014.05    | 0.15%             | 2036-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 0418067Z7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $366850.02    | 0.28%             | 2062-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Volusia County Educational Facility Authority                                    | VOLUSIA CNTY FL EDUCTNL FAC AUTH                             | CUSIP: 928836NY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $364438.66    | 0.28%             | 2049-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XEH5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    125000 | PA      | $126668.97    | 0.10%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Atlanta Development Authority/The                                                | ATLANTA GA DEV AUTH                                          | CUSIP: 04780NMX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $358039.65    | 0.27%             | 2039-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061UJG4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    250000 | PA      | $200752.28    | 0.15%             | 2056-12-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PPT6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    550000 | PA      | $532189.83    | 0.40%             | 2035-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KBR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $235552.77    | 0.18%             | 2029-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Berry Bay II Community Development District                                      | BERRY BAY II CDD FL SPL ASSMNT                               | CUSIP: 08577DAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $105536.30    | 0.08%             | 2054-05-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| County of Cook IL                                                                | COOK CNTY IL MF HSG REVENUE                                  | CUSIP: 213226AE3<br>LEI: 5493004UMR7OX4YITE10 | Long             | DBT              | MUN               | US        |    750000 | PA      | $756671.85    | 0.57%             | 2045-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BAL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $360732.10    | 0.27%             | 2037-07-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PTF2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    475000 | PA      | $377893.86    | 0.29%             | 2051-09-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                           | VIRGINIA ST HSG DEV AUTH                                     | CUSIP: 92812WGR9<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511032.83    | 0.39%             | 2042-11-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990KGX5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1660672.77   | 1.25%             | 2050-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI EDU REVENUE                               | CUSIP: 74442EML1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    150000 | PA      | $141146.75    | 0.11%             | 2060-04-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                         | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080VG3<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1125823.99   | 0.85%             | 2050-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| County of Osceola FL Transportation Revenue                                      | OSCEOLA CNTY FL TRANSPRTN REVENUE                            | CUSIP: 688031FE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $121828.95    | 0.09%             | 2049-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Corpus Christi TX                                                        | CORPUS CHRISTI TX SPL ASSMNT REVENUE                         | CUSIP: 220233AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $94792.11     | 0.07%             | 2044-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Metropolitan Nashville Airport Authority/The                                     | MET NASHVILLE TN ARPT AUTH ARPT REVENUE                      | CUSIP: 592190QQ8<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |    230000 | PA      | $243193.15    | 0.18%             | 2035-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                             | MASSACHUSETTS ST HSG FIN AGY                                 | CUSIP: 57586NS44<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    310000 | PA      | $289061.99    | 0.22%             | 2042-12-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                       | MAINE ST FIN AUTH                                            | CUSIP: 56042BBU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $124450.00    | 0.09%             | 2051-12-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| City of Fort Lauderdale FL Water & Sewer Revenue                                 | FORT LAUDERDALE FL WTR & SWR REVENUE                         | CUSIP: 347658ZY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    970000 | PA      | $1038259.07   | 0.78%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2020000 | PA      | $1155198.37   | 0.87%             | 2033-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Osceola FL Transportation Revenue                                      | OSCEOLA CNTY FL TRANSPRTN REVENUE                            | CUSIP: 688031FD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $156747.00    | 0.12%             | 2048-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                           | CUSIP: 74514L4G9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   3434262 | PA      | $1805879.69   | 1.36%             | 2051-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Hamilton OH                                                            | HAMILTON CNTY OH HOSP FACS REVENUE                           | CUSIP: 407272Z97<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |    800000 | PA      | $685844.42    | 0.52%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                           | CUSIP: 74514L4C8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2124997 | PA      | $1295444.97   | 0.98%             | 2051-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                             | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917S6W8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $731892.11    | 0.55%             | 2044-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tolomato Community Development District                                          | TOLOMATO FL CDD                                              | CUSIP: 889560FB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $249364.19    | 0.19%             | 2054-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Parrish Plantation Community Development District                                | PARRISH PLANTATION CMNTY DEV DIST FL SPL ASSMNT REVENUE      | CUSIP: 701830AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $122596.10    | 0.09%             | 2054-05-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Dallas Independent School District                                               | DALLAS TX INDEP SCH DIST                                     | CUSIP: 235308M42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $446279.45    | 0.34%             | 2053-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE              | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    470000 | PA      | $498053.34    | 0.38%             | 2053-01-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Loretto Heights Community Authority                                              | LORETTO HEIGHTS CMNTY AUTH CO SPL REVENUE                    | CUSIP: 544084AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $374106.45    | 0.28%             | 2051-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Centerra Metropolitan District No 1                                              | CENTERRA CO MET DIST #1 SPL REVENUE                          | CUSIP: 15200XAG8<br>LEI: 549300SHE5ZPSMGZH793 | Long             | DBT              | MUN               | US        |    275000 | PA      | $245098.05    | 0.18%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Transit Authority Sales Tax Receipts Fund                                | CHICAGO IL TRANSIT AUTH SALES TAX RECPTS REVENUE             | CUSIP: 16772PDL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $548500.93    | 0.41%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041807BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $197604.54    | 0.15%             | 2062-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                           | OKLAHOMA ST DEV FIN AUTH HLTHSYS REVENUE                     | CUSIP: 67884XCK1<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |    765000 | PA      | $765937.69    | 0.58%             | 2052-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                        | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP HOSP REVENUE      | CUSIP: 87638QSE0<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    310000 | PA      | $316143.81    | 0.24%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH ECON DEV REVENUE                 | CUSIP: 64577HMH1<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    785000 | PA      | $802999.51    | 0.61%             | 2031-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Utah Infrastructure Agency                                                       | UTAH INFRASTRUCTURE AGY TELECOMUNICATION REVENUE             | CUSIP: 917467DB5<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |     55000 | PA      | $57159.39     | 0.04%             | 2044-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1038000 | PA      | $948475.19    | 0.72%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XX94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $504750.59    | 0.38%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp/VA                                             | TOBACCO SETTLEMENT FING CORP VA                              | CUSIP: 88880NAU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $813559.94    | 0.61%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP SENIOR LIVING REVENUE                | CUSIP: 34061WAQ7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    525000 | PA      | $468562.94    | 0.35%             | 2055-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE              | CUSIP: 84136FAH0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1292494.00   | 0.98%             | 2051-11-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Regents of the University of California Medical Center Pooled Revenue            | UNIV OF CALIFORNIA CA RGTS MED CENTER POOLED REVENUE         | CUSIP: 913366KT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    935000 | PA      | $837898.31    | 0.63%             | 2053-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                                             | JEFFERSON CNTY AL SWR REVENUE WARRANTS                       | CUSIP: 472682ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $326688.09    | 0.25%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                           | ARKANSAS ST DEV FIN AUTH INDL DEV REVENUE                    | CUSIP: 04108WCC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $727024.52    | 0.55%             | 2049-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Hastings Campus Housing Finance Authority                                        | HASTINGS CAMPUS HSG FIN AUTH CA CAMPUS HSG REVENUE           | CUSIP: 418338AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $390830.47    | 0.29%             | 2061-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 14                                     | VLG FL CDD #14 SPL ASSMNT REVENUE                            | CUSIP: 92708JAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $402017.25    | 0.30%             | 2042-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP                                      | CUSIP: 340618DW4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    300000 | PA      | $301232.87    | 0.23%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519DW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $346843.05    | 0.26%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     72000 | PA      | $67440.87     | 0.05%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                   | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | CUSIP: 118217DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1580000 | PA      | $149420.44    | 0.11%             | 2057-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $236874.35    | 0.18%             | 2046-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA                            | MONTGOMERY CNTY PA INDL DEV AUTH                             | CUSIP: 61360PCM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $94311.48     | 0.07%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Constitution Heights Metropolitan District                                       | CONSTITUTION HEIGHTS MET DIST CO                             | CUSIP: 210402AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $443903.51    | 0.34%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                                                            | THE CHILDRENS TRUST FUND PR TOBACCO SETTLEMENT REVENUE       | CUSIP: 16876QBL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6945000 | PA      | $406901.92    | 0.31%             | 2057-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250BM5<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200201.98    | 0.15%             | 2053-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Newark Higher Education Finance Corp                                             | NEWARK HGR EDU FIN CORP TX EDU REVENUE                       | CUSIP: 650346BW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135334.66    | 0.10%             | 2035-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584XD57<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    860000 | PA      | $816635.72    | 0.62%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust VI                                               | NEW YORK CNTYS NY TOBACCO TRUST VI                           | CUSIP: 64945JAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $883774.95    | 0.67%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of St Louis Missouri/The            | SAINT LOUIS MO INDL DEV AUTH FING REVENUE                    | CUSIP: 85236BAB8<br>LEI: 549300WTUL8KX1FOUZ40 | Long             | DBT              | MUN               | US        |    330000 | PA      | $301761.50    | 0.23%             | 2035-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $226654.16    | 0.17%             | 2040-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                          | PORT AUTH OF NEW YORK & NEW JERSEY NY                        | CUSIP: 73358W5U4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1469937.58   | 1.11%             | 2055-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE               | CUSIP: 126292AY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $466793.64    | 0.35%             | 2056-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Atlanta Development Authority/The                                                | ATLANTA GA DEV AUTH                                          | CUSIP: 04780NMW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $226726.34    | 0.17%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505QP4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    795000 | PA      | $795073.27    | 0.60%             | 2035-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp III                                | TEXAS ST MUNI GAS ACQUISITION& SPLY CORP III GAS SPLY REVEN  | CUSIP: 88256HBH0<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1354485.81   | 1.02%             | 2032-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Inland Empire Tobacco Securitization Corp                                        | INLAND EMPIRE CA TOBACCO SECURITIZATION AUTH TOB SETTLEMENT  | CUSIP: 45734TAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $800162.15    | 0.60%             | 2036-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Gold Hill North Business Improvement District                                    | GOLD HILL NORTH BUSINESS IMPT DIST CO                        | CUSIP: 38061PAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $483598.67    | 0.36%             | 2054-12-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Navigation District                                             | PORT BEAUMONT TX NAV DIST DOCK& WHARF FAC REVENUE            | CUSIP: 73360CAD6<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    815000 | PA      | $635092.82    | 0.48%             | 2050-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FTH7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    290000 | PA      | $209415.53    | 0.16%             | 2049-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI CHRT SCH REVENUE                          | CUSIP: 744396FX5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    440000 | PA      | $306554.17    | 0.23%             | 2055-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Bridgeville DE                                                           | BRIDGEVILLE DE SPL OBLIG                                     | CUSIP: 108588AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98644.60     | 0.07%             | 2044-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Buda TX                                                                  | BUDA TX SPL ASSMNT REVENUE                                   | CUSIP: 118829AC4<br>LEI: 549300M2WWWL7K4QS327 | Long             | DBT              | MUN               | US        |    150000 | PA      | $145448.82    | 0.11%             | 2055-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI CHRT SCH REVENUE                          | CUSIP: 744396FW7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    165000 | PA      | $130783.50    | 0.10%             | 2041-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505SM9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    940000 | PA      | $940237.95    | 0.71%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                           | ILLINOIS ST HSG DEV AUTH REVENUE                             | CUSIP: 45203MKB6<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    735000 | PA      | $786087.75    | 0.59%             | 2052-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Curiosity Creek Community Development District                                   | CURIOSITY CREEK CDD FL CAPITAL IMPT REVENUE                  | CUSIP: 23128SAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $77485.64     | 0.06%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783U53<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    100000 | PA      | $94423.37     | 0.07%             | 2053-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Kansas City Industrial Development Authority                                     | KANSAS CITY MO INDL DEV AUTH ARPT SPL OBLIG                  | CUSIP: 48504NBF5<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |    425000 | PA      | $421495.42    | 0.32%             | 2055-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                | DENVER CITY & CNTY CO ARPT REVENUE                           | CUSIP: 249182TM8<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |    790000 | PA      | $841440.17    | 0.64%             | 2045-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Denver Convention Center Hotel Authority                                         | DENVER CO CONVENTION CENTER HOTEL AUTH REVENUE               | CUSIP: 249189DS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1502840.61   | 1.13%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349GV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $348763.45    | 0.26%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $567823.64    | 0.43%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                         | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080UP4<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    645000 | PA      | $476546.65    | 0.36%             | 2049-12-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                                        | ORANGE CNTY FL HLTH FACS AUTH REVENUE                        | CUSIP: 68450LJQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $470549.24    | 0.36%             | 2056-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PEU5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    290000 | PA      | $24650.00     | 0.02%             | 2031-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                          | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                  | CUSIP: 594698QT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499999.28    | 0.38%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp/TN                                                                 | TENNERGY CORP TN GAS REVENUE                                 | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |    750000 | PA      | $785741.96    | 0.59%             | 2053-10-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sierra Vista Industrial Development Authority                                    | SIERRA VISTA AZ INDL DEV AUTH AUTH ED FAC REV                | CUSIP: 82652UAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $514162.35    | 0.39%             | 2053-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                                | PHILADELPHIA PA AUTH FOR INDL DEV UNIV REVENUE               | CUSIP: 71780TBL6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    355000 | PA      | $363445.28    | 0.27%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PD36<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1185229.39   | 0.89%             | 2059-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Escambia County Health Facilities Authority                                      | ESCAMBIA CNTY FL HLTH FACS AUTH                              | CUSIP: 296110GD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2325000 | PA      | $1980989.68   | 1.50%             | 2045-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH EDUCTNL FACS REVENUE    | CUSIP: 83704MCH7<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    225000 | PA      | $206005.26    | 0.16%             | 2062-08-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Independence Metropolitan District No 3                                          | INDEPENDENCE MET DIST #3 CO                                  | CUSIP: 453625AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $481239.55    | 0.36%             | 2054-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAN2<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   2205000 | PA      | $882053.91    | 0.67%             | 2043-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL REVENUE                                 | CUSIP: 14052WDH7<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $221043.27    | 0.17%             | 2060-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tuscaloosa County Industrial Development Authority                               | TUSCALOOSA CNTY AL INDL DEV AUTH GULF OPPORTUNITY ZONE       | CUSIP: 90068FAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $154468.15    | 0.12%             | 2044-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust IV                                               | NEW YORK CNTYS NY TOBACCO TRUST IV                           | CUSIP: 62947YAL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $899982.63    | 0.68%             | 2041-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue              | MET WASHINGTON DC ARPTS AUTH DULLES TOLL ROAD REVENUE        | CUSIP: 592643DF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $749445.14    | 0.57%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                       | MAINE ST FIN AUTH SOL WST DISP REVENUE                       | CUSIP: 56042CAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $173001.05    | 0.13%             | 2047-12-01      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                            | DULUTH MN ECON DEV AUTH HLTH CARE FACS REVENUE               | CUSIP: 26444CHF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $655180.30    | 0.49%             | 2058-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL REVENUE                                 | CUSIP: 14052WDK0<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1147226.23   | 0.87%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Club Municipal Management District No 1                                          | CLUB MUNI MGMT DIST #1 TX SPL ASSMNT REVENUE                 | CUSIP: 18948PAK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $92548.26     | 0.07%             | 2055-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Affordable Housing Opportunities Trust Series AH-01                              | AFFORDABLE HSG OPPORTUNITIES TRUST                           | CUSIP: 00826SAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445152 | PA      | $415813.37    | 0.31%             | 2039-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783U87<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    380000 | PA      | $380159.98    | 0.29%             | 2029-07-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505WB8<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    290000 | PA      | $271872.17    | 0.21%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sierra Vista Industrial Development Authority                                    | SIERRA VISTA AZ INDL DEV AUTH AUTH ED FAC REV                | CUSIP: 82652UAQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $240256.72    | 0.18%             | 2064-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                           | ARKANSAS ST DEV FIN AUTH INDL DEV REVENUE                    | CUSIP: 04108WCD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3570000 | PA      | $3257015.99   | 2.46%             | 2049-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| North AR-1 Pasco Community Development District                                  | NORTH AR-1 PASCO CDD FL CAPITAL IMPT REVENUE                 | CUSIP: 65725AAR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $86803.60     | 0.07%             | 2044-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Newark Higher Education Finance Corp                                             | NEWARK HGR EDU FIN CORP TX EDU REVENUE                       | CUSIP: 650346BX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $275286.45    | 0.21%             | 2045-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                           | IOWA ST FIN AUTH HLTH FACS REVENUE                           | CUSIP: 462466FZ1<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1815000 | PA      | $1543704.64   | 1.17%             | 2046-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Bridgeville DE                                                           | BRIDGEVILLE DE SPL OBLIG                                     | CUSIP: 108588AP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100686.03    | 0.08%             | 2053-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                                 | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416TYA0<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    430000 | PA      | $450979.79    | 0.34%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    733000 | PA      | $715421.08    | 0.54%             | 2035-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Parrish Plantation Community Development District                                | PARRISH PLANTATION CMNTY DEV DIST FL SPL ASSMNT REVENUE      | CUSIP: 701830AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102473.84    | 0.08%             | 2044-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $745929.82    | 0.56%             | 2036-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE               | CUSIP: 126292BU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $114675.29    | 0.09%             | 2058-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BDB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $787204.50    | 0.59%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp/RI                                             | TOBACCO SETTLEMENT FING CORP RI                              | CUSIP: 888809BE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $419997.02    | 0.32%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Creekwalk Marketplace Business Improvement District                              | CREEKWALK MARKETPLACE BUSINESS IMPT DIST CO                  | CUSIP: 225515AK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    228000 | PA      | $228975.02    | 0.17%             | 2054-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                | DENVER CITY & CNTY CO ARPT REVENUE                           | CUSIP: 249182QY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $282865.58    | 0.21%             | 2053-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                              | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2460000 | PA      | $2355224.39   | 1.78%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061ULD8<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    142148 | PA      | $37740.19     | 0.03%             | 2057-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SkyRidge Pegasus Infrastructure Financing District                               | SKYRIDGE PEGASUS INFRASTRUCTURE FING DIST UT                 | CUSIP: 83089AAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $509558.74    | 0.38%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                                          | CAPITAL TRUST AUTH FL EDUCTNL FACS REVENUE                   | CUSIP: 14054WBP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $94247.68     | 0.07%             | 2040-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Mobile County Industrial Development Authority                                   | MOBILE CNTY AL INDL DEV AUTH SOL WST DISP REVENUE            | CUSIP: 60733UAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $591639.25    | 0.45%             | 2054-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                  | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CBJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $95319.92     | 0.07%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                           | ARKANSAS ST DEV FIN AUTH INDL DEV REVENUE                    | CUSIP: 04108WCE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $630276.95    | 0.48%             | 2048-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FWU4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    220000 | PA      | $225959.78    | 0.17%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PTG0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    455000 | PA      | $352924.82    | 0.27%             | 2056-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Crandall TX                                                              | CRANDALL TX SPL ASSMNT REVENUE                               | CUSIP: 224384AS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93945.19     | 0.07%             | 2055-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                             | MASSACHUSETTS ST HSG FIN AGY                                 | CUSIP: 57586NS51<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $960726.16    | 0.73%             | 2047-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cuyahoga County Port Authority                                         | CLEVELAND-CUYAHOGA CNTY OH PORT AUTH LEASE REVENUE           | CUSIP: 18610RCE2<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |    100000 | PA      | $95965.83     | 0.07%             | 2039-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250DN1<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    410000 | PA      | $338701.16    | 0.26%             | 2050-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp                          | TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE   | CUSIP: 882667BX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $812713.99    | 0.61%             | 2058-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE | CUSIP: 64542UGG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $602189.76    | 0.45%             | 2052-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| City of Oak Point TX                                                             | OAK POINT TX SPL ASSMNT REVENUE                              | CUSIP: 67176TBA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $128608.28    | 0.10%             | 2054-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ballston Quarter Community Development Authority                                 | BALLSTON QUARTER CMNTY DEV AUTH VA REVENUE                   | CUSIP: 058696AH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    267000 | PA      | $276400.84    | 0.21%             | 2046-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Kansas City Industrial Development Authority                                     | KANSAS CITY MO INDL DEV AUTH ARPT SPL OBLIG                  | CUSIP: 48504NBD0<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |    425000 | PA      | $421585.27    | 0.32%             | 2049-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | PUERTO RICO INDL TOURIST EDUCTNL MED & ENVRNMNTL CONTROL FAC | CUSIP: 74528LAA9<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    100000 | PA      | $112023.10    | 0.08%             | 2045-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FTG9<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    180000 | PA      | $137005.20    | 0.10%             | 2044-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lakes of Sarasota Community Development District                                 | LAKES OF SARASOTA CDD FL IMPT REVENUE                        | CUSIP: 51206YAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $240578.64    | 0.18%             | 2041-05-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BEY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $127213.89    | 0.10%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Region Community Development District                                    | CAPITAL REGION FL CDD REVENUE                                | CUSIP: 14044NBN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $191831.77    | 0.14%             | 2039-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XNN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3663513.80   | 2.76%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Del Valle Independent School District TX                                         | DEL VALLE TX INDEP SCH DIST                                  | CUSIP: 245505XT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $742589.71    | 0.56%             | 2047-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clackamas County School District No 12 North Clackamas                           | CLACKAMAS CNTY OR SCH DIST #12 NORTH CLACKAMAS               | CUSIP: 179093HN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $329652.53    | 0.25%             | 2038-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                      | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DGC0<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1587594.82   | 1.20%             | 2053-12-01      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Creekwalk Marketplace Business Improvement District                              | CREEKWALK MARKETPLACE BUSINESS IMPT DIST CO                  | CUSIP: 225515AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $808362.30    | 0.61%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061UJF6<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    705000 | PA      | $508413.75    | 0.38%             | 2056-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250CL6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    555000 | PA      | $526740.78    | 0.40%             | 2057-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Villages Improvement District                                               | W VLGS FL IMPT DIST                                          | CUSIP: 956454BJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $210823.62    | 0.16%             | 2039-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE        | CUSIP: 708686ET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $415846.93    | 0.31%             | 2037-12-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Lakes of Sarasota Community Development District                                 | LAKES OF SARASOTA CDD FL IMPT REVENUE                        | CUSIP: 51206YAH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $175911.67    | 0.13%             | 2041-05-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                              | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QUK7<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    960000 | PA      | $987022.48    | 0.74%             | 2046-10-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MF AFFORDABLE HSG                       | CUSIP: 63610CAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $322499.55    | 0.24%             | 2042-04-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TVE0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1763457.04   | 1.33%             | 2050-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Tampa FL                                                                 | TAMPA FL HLTH SYS REVENUE                                    | CUSIP: 87515ECB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001851.20   | 1.51%             | 2046-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tolomato Community Development District                                          | TOLOMATO FL CDD                                              | CUSIP: 889560FA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $254079.60    | 0.19%             | 2044-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                      | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DEN8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3614496.62   | 2.73%             | 2053-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL REVENUE                                 | CUSIP: 14052WDV6<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   5565000 | PA      | $384660.92    | 0.29%             | 2061-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                                        | BlackRock Liquidity Funds: MuniCash, Institutional Shares    | CUSIP: 09248U841<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |    399659 | NS      | $399698.92    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505TJ5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    935000 | PA      | $882566.11    | 0.67%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783Q66<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125269.93    | 0.09%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                               | CHICAGO IL                                                   | CUSIP: 167486ZY8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    595000 | PA      | $605536.93    | 0.46%             | 2038-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                               | MARYLAND ST ECON DEV CORP PRIV ACTIVITY REVENUE              | CUSIP: 57422JBY3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    380000 | PA      | $381273.26    | 0.29%             | 2047-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Utah UT                                                                | UTAH CNTY UT HOSP REVENUE                                    | CUSIP: 917393BN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $645073.58    | 0.49%             | 2047-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XEG7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     70000 | PA      | $74571.53     | 0.06%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CBR9<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    450000 | PA      | $336137.90    | 0.25%             | 2054-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                         | GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT  | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6795000 | PA      | $723813.73    | 0.55%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                            | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 658207T88<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    500000 | PA      | $527463.23    | 0.40%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                               | PHILADELPHIA PA WTR & WSTWTR REVENUE                         | CUSIP: 7178932Y6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600766 | PA      | $1691025.98   | 1.28%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PEW1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    290000 | PA      | $24650.00     | 0.02%             | 2047-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Waters' Edge Metropolitan District No 2                                          | WATERS EDGE MET DIST #2 CO                                   | CUSIP: 94184VAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $420346.90    | 0.32%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Midland County Fresh Water Supply District No 1                                  | MIDLAND CNTY TX FRESH WTR SPLY DIST #1 REVENUE               | CUSIP: 597495BA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5200000 | PA      | $2913200.32   | 2.20%             | 2037-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Redtail Ridge Metropolitan District                                              | REDTAIL RIDGE MET DIST CO                                    | CUSIP: 75773CAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1717000 | PA      | $985317.28    | 0.74%             | 2032-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                       | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445C80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1127703.09   | 0.85%             | 2047-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority                           | MAINE HLTH & HGR EDUCTNL FACS AUTH REVENUE                   | CUSIP: 56042R8P0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $967753.60    | 0.73%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1604246 | PA      | $1675034.14   | 1.26%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $516465.86    | 0.39%             | 2033-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                                                    | N TX TOLLWAY AUTH REVENUE                                    | CUSIP: 66285WYA8<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |    890000 | PA      | $797303.85    | 0.60%             | 2049-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI SPL FAC REVENUE                           | CUSIP: 74446DAJ7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    750000 | PA      | $609068.30    | 0.46%             | 2054-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1714000 | PA      | $549478.87    | 0.41%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Crandall TX                                                              | CRANDALL TX SPL ASSMNT REVENUE                               | CUSIP: 224384AR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $47612.20     | 0.04%             | 2045-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HOSP REVENUE            | CUSIP: 83703FLN0<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1120886.59   | 0.85%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 646136Y54<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    585000 | PA      | $577167.76    | 0.44%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Navigation District                                             | PORT BEAUMONT TX NAV DIST DOCK& WHARF FAC REVENUE            | CUSIP: 73360CAQ7<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    275000 | PA      | $264116.00    | 0.20%             | 2044-01-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990F6W9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    880000 | PA      | $776173.40    | 0.59%             | 2054-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250BS2<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    225000 | PA      | $214792.33    | 0.16%             | 2052-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| James City County Economic Development Authority                                 | JAMES CITY CNTY VA ECON DEV AUTH RSDL CARE FAC REVENUE       | CUSIP: 47029WEG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $188875.95    | 0.14%             | 2058-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KFJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    117500 | PA      | $121682.62    | 0.09%             | 2054-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| City of Friendswood TX                                                           | FRIENDSWOOD TX SPL ASSMNT REVENUE                            | CUSIP: 358591AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    301000 | PA      | $301786.30    | 0.23%             | 2054-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Trout Creek Community Development District                                       | TROUT CREEK CDD FL CAPITAL IMPT REVENUE                      | CUSIP: 897188AG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $569983.17    | 0.43%             | 2049-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Seminole Palms Community Development District                                    | SEMINOLE PALMS FL CDD SPL ASSMNT                             | CUSIP: 816775AF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $125303.86    | 0.09%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| James City County Economic Development Authority                                 | JAMES CITY CNTY VA ECON DEV AUTH RSDL CARE FAC REVENUE       | CUSIP: 47029WEK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125120.55    | 0.09%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| West Villages Improvement District                                               | W VLGS FL IMPT DIST                                          | CUSIP: 956454BK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $417787.92    | 0.32%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Corpus Christi TX                                                        | CORPUS CHRISTI TX SPL ASSMNT REVENUE                         | CUSIP: 220233AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    106000 | PA      | $101451.52    | 0.08%             | 2054-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| City of Buda TX                                                                  | BUDA TX SPL ASSMNT REVENUE                                   | CUSIP: 118829AF7<br>LEI: 549300M2WWWL7K4QS327 | Long             | DBT              | MUN               | US        |    300000 | PA      | $297079.42    | 0.22%             | 2055-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                           | OKLAHOMA ST DEV FIN AUTH                                     | CUSIP: 6789083V4<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   2180000 | PA      | $2163043.09   | 1.63%             | 2051-09-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Hobe-St Lucie Conservancy District                                               | HOBE ST LUCIE CONSERVANCY DIST FL                            | CUSIP: 434043AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100099.28    | 0.08%             | 2055-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority/FL                                            | CAPITAL PROJS FIN AUTH FL EDUCTNL FACS REVENUE               | CUSIP: 14043FAJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100652.04    | 0.08%             | 2059-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                        | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 5742186N8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1510976.99   | 1.14%             | 2055-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783Q74<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    115000 | PA      | $114220.99    | 0.09%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lakes of Sarasota Community Development District                                 | LAKES OF SARASOTA CDD FL IMPT REVENUE                        | CUSIP: 51206YAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $82933.86     | 0.06%             | 2051-05-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| City of Grand Forks ND                                                           | GRAND FORKS ND HLTH CARE SYS REVENUE                         | CUSIP: 38546WEQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $517696.42    | 0.39%             | 2053-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kansas City Industrial Development Authority                                     | KANSAS CITY MO INDL DEV AUTH ECON ACTIVITY TAX REVENUE       | CUSIP: 48502MAB9<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |    100000 | PA      | $91573.87     | 0.07%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE        | CUSIP: 708686ES5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $240490.65    | 0.18%             | 2038-12-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Curiosity Creek Community Development District                                   | CURIOSITY CREEK CDD FL CAPITAL IMPT REVENUE                  | CUSIP: 23128SAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $49492.97     | 0.04%             | 2044-05-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                          | MUNI ELEC AUTH OF GA                                         | CUSIP: 62620HEL2<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    460000 | PA      | $463305.93    | 0.35%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505SK3<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    415000 | PA      | $420231.86    | 0.32%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Aviation Authority                                           | HILLSBOROUGH CNTY FL AVIATION AUTH                           | CUSIP: 432308X25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2520000 | PA      | $2612085.40   | 1.97%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Doylestown Hospital Authority                                                    | DOYLESTOWN PA HOSP AUTH                                      | CUSIP: 261333HJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $167314.04    | 0.13%             | 2039-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 14                                     | VLG FL CDD #14 SPL ASSMNT REVENUE                            | CUSIP: 92708JAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $297661.60    | 0.22%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp                                        | WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | CUSIP: 95737TES1<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    340000 | PA      | $338604.41    | 0.26%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505WC6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    745000 | PA      | $707440.00    | 0.53%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                              | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1707391.97   | 1.29%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fitzsimons Village Metropolitan District No 3                                    | FITZSIMONS VLG MET DIST #3 CO                                | CUSIP: 33829NAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $475763.93    | 0.36%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Erie Tobacco Asset Securitization Corp                                           | ERIE CNTY NY TOBACCO ASSET SECURITIZATION CORP TOBACCO SETTL | CUSIP: 295095BB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    910000 | PA      | $814811.58    | 0.61%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FWT7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |     90000 | PA      | $93540.32     | 0.07%             | 2047-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                          | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                  | CUSIP: 594698PM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $164304.04    | 0.12%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA TAX INCR REVENUE                            | CUSIP: 254840DA6<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    590000 | PA      | $590597.10    | 0.45%             | 2041-06-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Morgantown Utility Board Inc                                                     | MORGANTOWN WV COMB UTILITY SYS REVENUE                       | CUSIP: 61759CDF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1669654.29   | 1.26%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority                                      | WASHINGTON ST HLTH CARE FACS AUTH                            | CUSIP: 93978HWK7<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    485000 | PA      | $478496.58    | 0.36%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima/The                       | PIMA CNTY AZ INDL DEV AUTH EDU REVENUE                       | CUSIP: 72177MTQ0<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    230000 | PA      | $184400.12    | 0.14%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Enterprise Development Authority                                      | CALIFORNIA ST ENTERPRISE DEV AUTH REVENUE                    | CUSIP: 13067RCZ4<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |    205000 | PA      | $199702.27    | 0.15%             | 2062-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE               | CUSIP: 126292BC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $226638.91    | 0.17%             | 2057-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP                                      | CUSIP: 340618DK0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1445643.91   | 1.09%             | 2032-07-15      | Floating      | 12.00%                | No            |                  2 | On Loan: No      |
| Norfolk Redevelopment & Housing Authority                                        | NORFOLK VA REDEV & HSG AUTH REVENUE                          | CUSIP: 655909CK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $229161.97    | 0.17%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster Municipal Authority                                                    | LANCASTER PA MUNI AUTH HLTHCARE FACS REVENUE                 | CUSIP: 514350AP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $131021.36    | 0.10%             | 2059-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                    | TEXAS WTR DEV BRD ST WTR IMPLEMENTATION REVENUE FUND         | CUSIP: 88285ABA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $177870.63    | 0.13%             | 2036-10-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department                                          | MIAMI-DADE CNTY FL SEAPORT REVENUE                           | CUSIP: 59335KFB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $354630.89    | 0.27%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE              | CUSIP: 74440DCM4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1684219.64   | 1.27%             | 2050-02-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $561333.56    | 0.42%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI CHRT SCH REVENUE                          | CUSIP: 744396GB2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    710000 | PA      | $576045.51    | 0.43%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Angelina & Neches River Authority                                                | ANGELINA & NECHES RIVER AUTH IND DEV CORP                    | CUSIP: 03469KAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $125625.00    | 0.09%             | 2045-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                           | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | CUSIP: 64972C7L1<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1955000 | PA      | $1863423.66   | 1.41%             | 2038-11-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP                                      | CUSIP: 340618DY0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1140188.20   | 0.86%             | 2059-07-15      | Floating      | 10.00%                | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI CHRT SCH REVENUE                          | CUSIP: 744396HF2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    725000 | PA      | $554808.48    | 0.42%             | 2056-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                            | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   5315000 | PA      | $5111931.76   | 3.86%             | 2065-01-01      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783U61<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    100000 | PA      | $94682.23     | 0.07%             | 2059-01-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   4590000 | PA      | $4792535.43   | 3.62%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| School District of Philadelphia/The                                              | PHILADELPHIA PA SCH DIST                                     | CUSIP: 717883A77<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |    220000 | PA      | $231145.37    | 0.17%             | 2048-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KAW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $304494.90    | 0.23%             | 2046-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Mobile County Industrial Development Authority                                   | MOBILE CNTY AL INDL DEV AUTH SOL WST DISP REVENUE            | CUSIP: 60733UAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1620000 | PA      | $1534973.23   | 1.16%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204EA32<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1815000 | PA      | $1617141.15   | 1.22%             | 2047-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Cobb County/The                                         | COBB CNTY GA DEV AUTH CHARTERSCH REVENUE                     | CUSIP: 190779AJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99210.54     | 0.07%             | 2058-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $269405.70    | 0.20%             | 2040-04-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AG35<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    985000 | PA      | $980735.04    | 0.74%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                            | ILLINOIS ST TOLL HIGHWAY AUTH                                | CUSIP: 452252PY9<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |    500000 | PA      | $453466.30    | 0.34%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041807CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $220922.97    | 0.17%             | 2062-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Marion Ranch Community Development District                                      | MARION RANCH CDD FL SPL ASSMNT                               | CUSIP: 570001AC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $152202.12    | 0.11%             | 2054-05-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority                                              | CALIFORNIA PUBLIC FIN AUTH SENIOR LIVING REVENUE             | CUSIP: 13057GAQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $926850.73    | 0.70%             | 2059-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Hammock Oaks Community Development District                                      | HAMMOCK OAKS CDD FL ASSMNT                                   | CUSIP: 40834PAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $136001.77    | 0.10%             | 2054-05-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                               | PHILADELPHIA PA WTR & WSTWTR REVENUE                         | CUSIP: 7178932X8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $771218.99    | 0.58%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1406207.74   | 1.06%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency                                  | CALIFORNIA CNTY CA TOBACCO SECURITIZATION AGY TOBACCO SETTLE | CUSIP: 13016NDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $133297.81    | 0.10%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PD28<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    870000 | PA      | $841080.63    | 0.63%             | 2032-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority                                             | VIRGINIA BEACH VA DEV AUTH RSDL CARE FAC REVENUE             | CUSIP: 92774NBF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $157377.48    | 0.12%             | 2029-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                                            | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                      | CUSIP: 187145UR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $92573.46     | 0.07%             | 2054-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                      | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REVENUE              | CUSIP: 20775DHJ4<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    160000 | PA      | $131321.84    | 0.10%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BAN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $908201.49    | 0.69%             | 2050-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Rancho Mirage Community Facilities District                                      | RANCHO MIRAGE CA CMNTY FACS DIST SPL TAX                     | CUSIP: 75213WCN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $166830.41    | 0.13%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Power Authority                                                         | NEW YORK ST PWR AUTH REVENUE                                 | CUSIP: 64989KLF1<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |    565000 | PA      | $500569.13    | 0.38%             | 2055-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FTF1<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    140000 | PA      | $119627.34    | 0.09%             | 2035-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North AR-1 Pasco Community Development District                                  | NORTH AR-1 PASCO CDD FL CAPITAL IMPT REVENUE                 | CUSIP: 65725AAS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $86543.37     | 0.07%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PPR0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    925000 | PA      | $508248.13    | 0.38%             | 2035-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                    | OHIO ST PRIVATE ACTIVITY REVENUE                             | CUSIP: 67759YAQ0<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1212638.97   | 0.92%             | 2053-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Antillia Community Development District                                          | ANTILLIA CDD FL SPL ASSMNT                                   | CUSIP: 03706FAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $111041.25    | 0.08%             | 2054-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| City of Baltimore MD                                                             | BALTIMORE MD SPL OBLIG                                       | CUSIP: 05923TDA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $118206.45    | 0.09%             | 2042-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | LOUISIANA PUB FACS AUTH REVENUE                              | CUSIP: 546399PJ9<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    105000 | PA      | $97748.85     | 0.07%             | 2062-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Salt Verde Financial Corp                                                        | SALT VERDE AZ FINANCIAL CORP SENIOR GAS REVENUE              | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |    725000 | PA      | $753329.11    | 0.57%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brevard County Health Facilities Authority                                       | BREVARD CNTY FL HLTH FACS AUTH REVENUE                       | CUSIP: 107416PM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $579863.84    | 0.44%             | 2033-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hoover Industrial Development Board                                              | HOOVER AL INDL DEV BRD ENVNMNTL IMPT REVENUE                 | CUSIP: 439241AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1148277.21   | 0.87%             | 2050-11-01      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| Capital Region Community Development District                                    | CAPITAL REGION FL CDD REVENUE                                | CUSIP: 14044NBQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $299680.63    | 0.23%             | 2031-05-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PPS8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |  16025000 | PA      | $1180771.04   | 0.89%             | 2060-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | MET GOVT NASHVILLE & DAVIDSONCNTY TN HLTH & EDUCTNL FAC BRD  | CUSIP: 592041YP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $231171.68    | 0.17%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                                          | CAPITAL TRUST AUTH FL EDUCTNL FACS REVENUE                   | CUSIP: 14054WBR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $91960.06     | 0.07%             | 2059-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Lee County Industrial Development Authority/FL                                   | LEE CNTY FL INDL DEV AUTH HLTHCR FACS REVENUE                | CUSIP: 52349EER7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $130369.20    | 0.10%             | 2029-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE | CUSIP: 64542UHF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $59720.00     | 0.05%             | 2055-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | PUERTO RICO INDL TOURIST EDUCTNL MED & ENVRNMNTL CONTROL FAC | CUSIP: 74528LAC5<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    100000 | PA      | $112055.21    | 0.08%             | 2045-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Industrial Development Board | MET GOVT NASHVILLE & DAVIDSON CNTY TN INDL DEV BRD SPL ASSMN | CUSIP: 59211SAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $175858.94    | 0.13%             | 2043-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

**Name of Applicant:** BlackRock Long-Term Municipal Advantage Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer