# EDGAR Filing Document

**Accession Number:** 0000789281
**File Stem:** 0000789281-26-000017
**Filing Date:** 2026-3
**Character Count:** 255733
**Document Hash:** e535f00a81bcf1752d65344844a52c5e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000789281-26-000017.hdr.sgml**: 20260323

**ACCESSION NUMBER**: 0000789281-26-000017

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260323

**DATE AS OF CHANGE**: 20260323

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Income Securities Trust
- **CENTRAL INDEX KEY:** 0000789281

**ORGANIZATION NAME:**
- **EIN:** 251412886
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04577
- **FILM NUMBER:** 26780295

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 8003417400

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED INCOME SECURITIES TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED FLOATING RATE TRUST
- **DATE OF NAME CHANGE:** 19920205

## Series and Classes Contracts Data

### Federated Hermes Muni and Stock Advantage Fund (Series ID: S000009076)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000024657 | Class A Shares       | FMUAX           |
| C000024659 | Class C Shares       | FMUCX           |
| C000051328 | Class F Shares       | FMUFX           |
| C000098257 | Institutional Shares | FMUIX           |
| C000188219 | Class T Shares       |  |

## Nport-Ex

Federated Hermes Muni and Stock Advantage Fund

Portfolio of Investments

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Amount** <br>**or Shares**<br>|  | **Value** |
|  | COMMON STOCKS—48.2% |  |
|  | **Communication Services—4.5%** |  |
| &nbsp;&nbsp; 120425 | Alphabet, Inc., Class A | &nbsp;&nbsp; $40703650 |
| &nbsp;&nbsp; 366378 | AT&T, Inc. | &nbsp;&nbsp; 9602767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12565 | Meta Platforms, Inc. | &nbsp;&nbsp; 9002822 |
| &nbsp;&nbsp; 108157 | Verizon Communications, Inc. | &nbsp;&nbsp; 4815150 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64124389 |
|  | **Consumer Discretionary—3.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 79612<br><sup>1</sup> <br>| Amazon.com, Inc. | &nbsp;&nbsp; 19051152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 979<br><sup>1</sup> <br>| AutoZone, Inc. | &nbsp;&nbsp; 3626500 |
| &nbsp;&nbsp; 107555 | Bath & Body Works, Inc. | &nbsp;&nbsp; 2344699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 23005<br><sup>1</sup> <br>| HBX Group International PLC | &nbsp;&nbsp; 213436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6198 | Home Depot, Inc. | &nbsp;&nbsp; 2321709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8666<br><sup>1</sup> <br>| Lululemon Athletica, Inc. | &nbsp;&nbsp; 1512217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 65775 | Nike, Inc., Class B | &nbsp;&nbsp; 4065553 |
| &nbsp;&nbsp; 246178<br><sup>1</sup> <br>| PENN Entertaintment, Inc. | &nbsp;&nbsp; 3160925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6772<br><sup>1</sup> <br>| Ulta Beauty, Inc. | &nbsp;&nbsp; 4383922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 29582 | Whirlpool Corp. | &nbsp;&nbsp; 2366264 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43046377 |
|  | **Consumer Staples—2.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2822 | Costco Wholesale Corp. | &nbsp;&nbsp; 2653386 |
| &nbsp;&nbsp; 263282 | JBS NV-A | &nbsp;&nbsp; 4146692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 24114 | Philip Morris International, Inc. | &nbsp;&nbsp; 4327016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 40482 | Procter & Gamble Co. | &nbsp;&nbsp; 6143953 |
| &nbsp;&nbsp; 143898 | The Coca-Cola Co. | &nbsp;&nbsp; 10765009 |
| &nbsp;&nbsp; 106916 | WalMart, Inc. | &nbsp;&nbsp; 12737972 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40774028 |
|  | **Energy—2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 32541 | Chevron Corp. | &nbsp;&nbsp; 5756503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 55951 | ConocoPhillips | &nbsp;&nbsp; 5831773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 94854 | Exxon Mobil Corp. | &nbsp;&nbsp; 13412356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 16000<br><sup>1</sup> <br>| Infinity Natural Resources, Inc. | &nbsp;&nbsp; 254080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 21592 | Valero Energy Corp. | &nbsp;&nbsp; 3917436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 39739 | Williams Cos., Inc. | &nbsp;&nbsp; 2672845 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31844993 |
|  | **Financials—8.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 24937 | American Express Co. | &nbsp;&nbsp; 8782063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 25870 | Assurant, Inc. | &nbsp;&nbsp; 6160423 |
| &nbsp;&nbsp; 141477 | Bank of America Corp. | &nbsp;&nbsp; 7526576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5117 | BlackRock, Inc. | &nbsp;&nbsp; 5725616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 17240 | Capital One Financial Co. | &nbsp;&nbsp; 3774353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 61609 | Charles Schwab Corp. | &nbsp;&nbsp; 6402407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 63944 | Citigroup, Inc. | &nbsp;&nbsp; 7398960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 70436 | Citizens Financial Group, Inc. | &nbsp;&nbsp; 4436059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 17000<br><sup>1</sup> <br>| Ethos Technologies, Inc. | &nbsp;&nbsp; 255850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 37000<br><sup>1</sup> <br>| Exzeo Group, Inc. | &nbsp;&nbsp; 751840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3169 | Goldman Sachs Group, Inc. | &nbsp;&nbsp; 2964314 |

---

**1**

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---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | COMMON STOCKS—continued |  |
|  | **Financials—continued** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 33384 | Intercontinental Exchange, Inc. | &nbsp;&nbsp; $5801472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 66922 | JPMorgan Chase & Co. | &nbsp;&nbsp; 20470771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 49226 | KKR & Co., Inc. | &nbsp;&nbsp; 5624563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 19083 | Progressive Corp., OH | &nbsp;&nbsp; 3969264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12369 | S&P Global, Inc. | &nbsp;&nbsp; 6528235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 36468 | UMB Financial Corp. | &nbsp;&nbsp; 4636542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 25321 | Visa, Inc., Class A | &nbsp;&nbsp; 8149057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 70000<br><sup>1</sup> <br>| Wealthfront Corp. | &nbsp;&nbsp; 607600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 83228 | Wells Fargo & Co. | &nbsp;&nbsp; 7531302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 20227 | Willis Towers Watson PLC | &nbsp;&nbsp; 6421466 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 123918733 |
|  | **Health Care—5.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 15694 | Abbott Laboratories | &nbsp;&nbsp; 1715354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 29745 | AbbVie, Inc. | &nbsp;&nbsp; 6633432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 19121 | AstraZeneca PLC | &nbsp;&nbsp; 3549894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 28893<br><sup>1</sup> <br>| Boston Scientific Corp. | &nbsp;&nbsp; 2702362 |
| &nbsp;&nbsp; 102238<br><sup>1</sup> <br>| Caris Life Sciences, Inc. | &nbsp;&nbsp; 2367832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 22652 | Danaher Corp. | &nbsp;&nbsp; 4958296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 16670 | Eli Lilly & Co. | &nbsp;&nbsp; 17289291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 18780 | Johnson & Johnson | &nbsp;&nbsp; 4267755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 16667<br><sup>1</sup> <br>| Lumexa Imaging Holdings, Inc. | &nbsp;&nbsp; 204171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9623 | McKesson Corp. | &nbsp;&nbsp; 7998734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 68707 | Medtronic PLC | &nbsp;&nbsp; 7074073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 38299 | Merck & Co., Inc. | &nbsp;&nbsp; 4223231 |
| &nbsp;&nbsp; 128914 | Pfizer, Inc. | &nbsp;&nbsp; 3408486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11457 | Thermo Fisher Scientific, Inc. | &nbsp;&nbsp; 6629135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 18417 | UnitedHealth Group, Inc. | &nbsp;&nbsp; 5284390 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78306436 |
|  | **Industrials—5.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10500<br><sup>1</sup> <br>| Cardinal Infrastructure Group, Inc. | &nbsp;&nbsp; 264495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8700<br><sup>1</sup> <br>| CSG B.V. | &nbsp;&nbsp; 315101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6793 | Cummins, Inc. | &nbsp;&nbsp; 3931924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 79375 | Delta Air Lines 2020-1 Class | &nbsp;&nbsp; 5230019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 20730 | Dover Corp. | &nbsp;&nbsp; 4176888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 21893 | Eaton Corp. PLC | &nbsp;&nbsp; 7693638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2362<br><sup>1</sup> <br>| Gates Industrial Corp PLC | &nbsp;&nbsp; 54373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 16986 | GE Aerospace | &nbsp;&nbsp; 5211135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7447 | GE Vernova, Inc. | &nbsp;&nbsp; 5409277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7779 | L3Harris Technologies, Inc. | &nbsp;&nbsp; 2667030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7632 | Northrop Grumman Corp. | &nbsp;&nbsp; 5283328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 13857 | Parker-Hannifin Corp. | &nbsp;&nbsp; 12967935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 34529 | RTX Corp. | &nbsp;&nbsp; 6937912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7587<br><sup>1</sup> <br>| Saia, Inc. | &nbsp;&nbsp; 2540659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 16750<br><sup>1</sup> <br>| Siemens Energy AG | &nbsp;&nbsp; 2869755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 18050 | Stanley Black & Decker, Inc. | &nbsp;&nbsp; 1419813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4955 | United Rentals North America, Inc. | &nbsp;&nbsp; 3875107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 32435 | Waste Management, Inc. | &nbsp;&nbsp; 7208355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3400<br><sup>1</sup> <br>| York Space Systems, Inc. | &nbsp;&nbsp; 115430 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78172174 |

---

**2**

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---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | COMMON STOCKS—continued |  |
|  | **Information Technology—11.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22124<br><sup>1</sup> <br>| Advanced Micro Devices, Inc. | &nbsp;&nbsp; $5237415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 116894 | Apple, Inc. | &nbsp;&nbsp; 30331655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22465 | Applied Materials, Inc. | &nbsp;&nbsp; 7240919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42399<br><sup>1</sup> <br>| Arista Networks, Inc. | &nbsp;&nbsp; 6009634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76352 | Broadcom, Inc. | &nbsp;&nbsp; 25295418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 153157 | Hewlett Packard Enterprise Co. | &nbsp;&nbsp; 3295939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33820 | IBM Corp. | &nbsp;&nbsp; 10372594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9100<br><sup>1</sup> <br>| Innoscripta SE | &nbsp;&nbsp; 967515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1305 | KLA Corp. | &nbsp;&nbsp; 1863462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40348 | Marvell Technology, Inc. | &nbsp;&nbsp; 3184264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17354 | Micron Technology, Inc. | &nbsp;&nbsp; 7199828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61613 | Microsoft Corp. | &nbsp;&nbsp; 26511458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12732 | Motorola Solutions, Inc. | &nbsp;&nbsp; 5125139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 102000 | NVIDIA Corp. | &nbsp;&nbsp; 19495260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6800<br><sup>1</sup> <br>| Pics NV | &nbsp;&nbsp; 122400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19159 | Salesforce, Inc. | &nbsp;&nbsp; 4067264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4718 | Seagate Technology Holdings PLC | &nbsp;&nbsp; 1923481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10850 | TD SYNNEX Corp. | &nbsp;&nbsp; 1721569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9000<br><sup>1</sup> <br>| Tekscend Photomask Corp. | &nbsp;&nbsp; 176460 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 160141674 |
|  | **Materials—1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86026 | Freeport-McMoRan, Inc. | &nbsp;&nbsp; 5181346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17038 | Linde PLC | &nbsp;&nbsp; 7785855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18309 | Vulcan Materials Co. | &nbsp;&nbsp; 5502587 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18469788 |
|  | **Real Estate—0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 117500 | NS Group, Inc. | &nbsp;&nbsp; 1135064 |
|  | **Utilities—3.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58634 | American Electric Power Co., Inc. | &nbsp;&nbsp; 7022887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 377312 | CenterPoint Energy, Inc. | &nbsp;&nbsp; 14975513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 108239 | NextEra Energy, Inc. | &nbsp;&nbsp; 9514208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 146477 | PPL Corp. | &nbsp;&nbsp; 5309791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68057 | Southern Co. | &nbsp;&nbsp; 6078171 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42900570 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCKS <br>(IDENTIFIED COST $349,852,550)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 682834226 |
|  | MUNICIPAL BONDS—48.0% |  |
|  | **Alabama—1.3%** |  |
| $5000000 | Black Belt Energy Gas District, AL, Gas Project Revenue Bonds (Series 2025F), (Pacific Life Insurance Co. GTD), <br> 5.000%, 12/1/2035<br>| &nbsp;&nbsp; 5396489 |
| &nbsp;&nbsp; 1950000 | Black Belt Energy Gas District, AL, Gas Project Revenue Bonds (Series 2026B), (Canadian Imperial Bank of Commerce GTD), <br> 5.000%, 12/1/2034<br>| &nbsp;&nbsp; 2119802 |
| &nbsp;&nbsp; 1500000 | Black Belt Energy Gas District, AL, Gas Project Revenue Refunding Bonds (Series 2023D-1), (Goldman Sachs Group, Inc. <br> GTD), 5.500%, Mandatory Tender 2/1/2029<br>| &nbsp;&nbsp; 1590836 |
| &nbsp;&nbsp; 5000000 | Energy Southeast, AL, Energy Supply Revenue Bonds (Series 2023A-1), (Morgan Stanley GTD), 5.500%, Mandatory <br> Tender 1/1/2031<br>| &nbsp;&nbsp; 5453559 |
| &nbsp;&nbsp; 2010000 | Lower Alabama Gas District, Gas Project Revenue Bonds (Series 2016A), (Goldman Sachs Group, Inc. GTD), <br> 5.000%, 9/1/2031<br>| &nbsp;&nbsp; 2175363 |
| &nbsp;&nbsp; 2000000 | Lower Alabama Gas District, Gas Project Revenue Bonds (Series 2016A), (Goldman Sachs Group, Inc. GTD), <br> 5.000%, 9/1/2046<br>| &nbsp;&nbsp; 2111455 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18847504 |

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**3**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Arizona—1.5%** |  |
| $1320000 | Arizona Board of Regents (Arizona State University), System Revenue Bonds (Series 2024A), 5.000%, 7/1/2042 | &nbsp;&nbsp; $1443460 |
| &nbsp;&nbsp; 665000<br><sup>2</sup> <br>| Maricopa County, AZ, IDA (Paradise Schools), Revenue Refunding Bonds, 5.000%, 7/1/2036 | &nbsp;&nbsp; 666231 |
| &nbsp;&nbsp; 2500000 | Phoenix, AZ Civic Improvement Corp. - Airport System (Phoenix, AZ Aviation Department), Junior Lien Airport Revenue <br> Bonds (Series 2019A), 5.000%, 7/1/2049<br>| &nbsp;&nbsp; 2545831 |
| &nbsp;&nbsp; 2760000 | Phoenix, AZ IDA (GreatHearts Arizona), Education Facility Revenue Bonds (Series 2014A), 5.000%, 7/1/2034 | &nbsp;&nbsp; 2762024 |
| &nbsp;&nbsp; 1500000 | Phoenix, AZ IDA (GreatHearts Arizona), Education Revenue Bonds (Series 2025A), (Original Issue Yield: 5.560%), <br> 5.250%, 7/1/2060<br>| &nbsp;&nbsp; 1481246 |
| &nbsp;&nbsp; 2000000<br><sup>2</sup> <br>| Pima County, AZ IDA (La Posada at Pusch Ridge), Senior Living Revenue Bonds (Series 2022A), 6.875%, 11/15/2052 | &nbsp;&nbsp; 2137700 |
| &nbsp;&nbsp; 8170000 | Salt River Project, AZ Agricultural Improvement & Power District, Electric System Revenue Bonds (Series 2025B), <br> 5.000%, 1/1/2035<br>| &nbsp;&nbsp; 9723223 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20759715 |
|  | **California—1.3%** |  |
| &nbsp;&nbsp; 2000000 | California Health Facilities Financing Authority (Providence St. Joseph Health), Revenue Bonds (Series 2014B), <br> 5.000%, 10/1/2044<br>| &nbsp;&nbsp; 2001122 |
| &nbsp;&nbsp; 250000<br><sup>2</sup> <br>| California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living Revenue Refunding Bonds (Series 2021A), <br> 5.000%, 11/15/2051<br>| &nbsp;&nbsp; 223700 |
| &nbsp;&nbsp; 250000<br><sup>2</sup> <br>| California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living Revenue Refunding Bonds (Series 2021A), <br> 5.000%, 11/15/2056<br>| &nbsp;&nbsp; 220265 |
| &nbsp;&nbsp; 1135000<br><sup>2</sup> <br>| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2015A), 5.000%, 7/1/2045 | &nbsp;&nbsp; 1134914 |
| &nbsp;&nbsp; 55000 | California State University (The Trustees of), Systemwide Revenue Bonds (Series 2015A), 5.000%, 11/1/2030 | &nbsp;&nbsp; 55134 |
| &nbsp;&nbsp; 1565000 | California State, Various Purpose UT GO Bonds, 5.000%, 9/1/2052 | &nbsp;&nbsp; 1637674 |
| &nbsp;&nbsp; 2000000 | Los Angeles, CA Department of Airports, Senior Revenue Green Bonds (Series 2022I), 5.000%, 5/15/2048 | &nbsp;&nbsp; 2100463 |
| &nbsp;&nbsp; 1140000 | M-S-R Energy Authority, CA, Gas Revenue Bonds (Series 2009A), (Original Issue Yield: 6.375%), (Citigroup, Inc. GTD), <br> 6.125%, 11/1/2029<br>| &nbsp;&nbsp; 1210475 |
| &nbsp;&nbsp; 3940000 | San Diego County, CA Regional Airport Authority, Subordinate Airport Revenue Bonds (Series 2021A), 4.000%, 7/1/2046 | &nbsp;&nbsp; 3837991 |
| &nbsp;&nbsp; 1080000 | San Diego, CA Unified School District, UT GO Dedicated Property Tax Bonds (Series 2022M-2), 4.550%, 7/1/2052 | &nbsp;&nbsp; 1091365 |
| &nbsp;&nbsp; 2500000 | San Francisco, CA City & County Airport Commission, Second Series Revenue Refunding Bonds (Series 2023D), <br> 5.250%, 5/1/2048<br>| &nbsp;&nbsp; 2693590 |
| &nbsp;&nbsp; 2440000 | University of California (The Regents of), Limited Project Revenue Bonds (Series 2017M), 5.000%, 5/15/2036 | &nbsp;&nbsp; 2513137 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18719830 |
|  | **Colorado—1.5%** |  |
| &nbsp;&nbsp; 1500000 | Colorado Educational & Cultural Facilities Authority (University Lab School), Charter School Refunding & Improvement <br> Revenue Bonds (Series 2015), 5.000%, 12/15/2035<br>| &nbsp;&nbsp; 1500934 |
| &nbsp;&nbsp; 250000 | Colorado Health Facilities Authority (Christian Living Communities), Revenue Refunding Bonds (Series 2016), <br> 5.000%, 1/1/2037<br>| &nbsp;&nbsp; 250131 |
| &nbsp;&nbsp; 1200000 | Colorado Health Facilities Authority (CommonSpirit Health), Revenue Bonds (Series 2022), 5.500%, 11/1/2047 | &nbsp;&nbsp; 1263690 |
| &nbsp;&nbsp; 5880000 | Colorado High Performance Transportation Enterprise, C-470 Express Lanes Senior Revenue Bonds (Series 2017), <br> 5.000%, 12/31/2051<br>| &nbsp;&nbsp; 5780307 |
| &nbsp;&nbsp; 1365000 | Colorado State Health Facilities Authority (CommonSpirit Health), Revenue Bonds (Series 2019A-1), 4.000%, 8/1/2044 | &nbsp;&nbsp; 1250083 |
| &nbsp;&nbsp; 2500000 | Colorado State Health Facilities Authority (Intermountain Healthcare Obligated Group), Revenue Bonds (Series 2024A), <br> 5.000%, 5/15/2054<br>| &nbsp;&nbsp; 2551030 |
| &nbsp;&nbsp; 1500000 | Denver, CO City & County Department of Aviation, Airport System Senior Revenue Bonds (Series 2022B), <br> 5.250%, 11/15/2053<br>| &nbsp;&nbsp; 1573562 |
| &nbsp;&nbsp; 4000000 | Denver, CO City & County Department of Aviation, Airport System Senior Revenue Bonds (Series 2022C), <br> 5.250%, 11/15/2053<br>| &nbsp;&nbsp; 4196164 |
| &nbsp;&nbsp; 3095000 | University of Colorado (The Regents of), University Enterprise Revenue Refunding Bonds (Series 2017A-2), 4.000%, 6/1/2043 | &nbsp;&nbsp; 3034404 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21400305 |
|  | **Connecticut—0.5%** |  |
| &nbsp;&nbsp; 3000000 | Connecticut State (Connecticut State Special Transportation Fund), Special Tax Obligation Bonds Transportation <br> Infrastructure Purpose (Series 2018B), 5.000%, 10/1/2032<br>| &nbsp;&nbsp; 3197357 |
| &nbsp;&nbsp; 1500000 | Connecticut State (Connecticut State Special Transportation Fund), Special Tax Obligation Bonds Transportation <br> Infrastructure Purposes (Series 2022A), 5.250%, 7/1/2042<br>| &nbsp;&nbsp; 1660817 |
| &nbsp;&nbsp; 1000000 | Stamford, CT Housing Authority (Mozaic Concierge Living), Entrance Fee Principal Redemption Bonds (Series 2025C), <br> 4.750%, 10/1/2032<br>| &nbsp;&nbsp; 1045390 |

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**4**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Connecticut—continued** |  |
| $750000 | Stamford, CT Housing Authority (Mozaic Concierge Living), Revenue Bonds (Series 2025A), (Original Issue Yield: 6.350%), <br> 6.250%, 10/1/2060<br>| &nbsp;&nbsp; $751119 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6654683 |
|  | **Delaware—0.1%** |  |
| &nbsp;&nbsp; 2000000 | Delaware EDA (ACTS Retirement Life Communities, Inc.), Retirement Communities Revenue Bonds (Series 2018B), <br> 5.000%, 11/15/2048<br>| &nbsp;&nbsp; 2004562 |
|  | **District Of Columbia—1.2%** |  |
| &nbsp;&nbsp; 1140000 | District of Columbia (District of Columbia International School), Revenue Bonds (Series 2019), 5.000%, 7/1/2054 | &nbsp;&nbsp; 1101568 |
| &nbsp;&nbsp; 1435000 | District of Columbia (Friendship Public Charter School, Inc.), Revenue Bonds (Series 2016A), 5.000%, 6/1/2041 | &nbsp;&nbsp; 1436464 |
| &nbsp;&nbsp; 1000000 | District of Columbia (Ingleside at Rock Creek), Project Revenue Bonds (Series 2017A), (Original Issue Yield: 5.125%), <br> 5.000%, 7/1/2042<br>| &nbsp;&nbsp; 1002151 |
| &nbsp;&nbsp; 500000 | District of Columbia (Ingleside at Rock Creek), Project Revenue Bonds (Series 2017A), 5.000%, 7/1/2037 | &nbsp;&nbsp; 504850 |
| &nbsp;&nbsp; 5375000 | District of Columbia Income Tax Revenue, Income Tax Secured Revenue Bonds (Series 2022A), 5.000%, 7/1/2035 | &nbsp;&nbsp; 6096177 |
| &nbsp;&nbsp; 6090000 | District of Columbia, UT GO Bonds (Series 2019A), 5.000%, 10/15/2044 | &nbsp;&nbsp; 6284524 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16425734 |
|  | **Florida—2.0%** |  |
| &nbsp;&nbsp; 3000000 | Brevard County, FL Health Facilities Authority (Health First, Inc.), Hospital Revenue Bonds (Series 2022A), 5.000%, 4/1/2042 | &nbsp;&nbsp; 3171802 |
| &nbsp;&nbsp; 2010000 | Central Florida Expressway Authority, Senior Lien Revenue Refunding Bonds (Series 2016B), 4.000%, 7/1/2040 | &nbsp;&nbsp; 2011493 |
| &nbsp;&nbsp; 1000000 | Florida Local Government Finance Commission (Ponte Vedra Pine Company LLC), Fleet Landing at Nocatee Senior Living <br> Revenue Bonds (Series 2025A), (Original Issue Yield: 6.870%), 6.750%, 11/15/2055<br>| &nbsp;&nbsp; 1044723 |
| &nbsp;&nbsp; 2125000 | Hillsborough County, FL Aviation Authority, Revenue Bonds (Series 2018F), 5.000%, 10/1/2048 | &nbsp;&nbsp; 2158879 |
| &nbsp;&nbsp; 2500000 | Lakeland, FL (Lakeland Regional Health System), Hospital Revenue Refunding Bonds (Series 2024), 5.000%, 11/15/2038 | &nbsp;&nbsp; 2814628 |
| &nbsp;&nbsp; 1000000 | Lakeland, FL (Lakeland Regional Health System), Hospital Revenue Refunding Bonds (Series 2024), 5.000%, 11/15/2040 | &nbsp;&nbsp; 1105484 |
| &nbsp;&nbsp; 2565000 | Lakewood Ranch, FL Stewardship District (Lakewood Ranch Southeast Project), Special Assement Revenue Bonds <br> (Series 2025), 5.800%, 5/1/2045<br>| &nbsp;&nbsp; 2663209 |
| &nbsp;&nbsp; 530000 | Lakewood Ranch, FL Stewardship District (Star Farms at Lakewood Ranch Project - Phase 3/4), Special Assessment Revenue <br> Bonds (Series 2024), 5.550%, 5/1/2054<br>| &nbsp;&nbsp; 534720 |
| &nbsp;&nbsp; 1055000 | Lee County, FL IDA (Cypress Cove at Healthpark), Healthcare Facilities Revenue Bonds (Series 2022A), 5.250%, 10/1/2052 | &nbsp;&nbsp; 989983 |
| &nbsp;&nbsp; 2715000 | Miami Beach, FL, Revenue Bonds (Series 2015), 5.000%, 9/1/2040 | &nbsp;&nbsp; 2718297 |
| &nbsp;&nbsp; 3000000 | Miami-Dade County, FL (Miami-Dade County, FL Water & Sewer), Water And Sewer System Revenue Bonds (Series 2025A), <br> 4.500%, 10/1/2051<br>| &nbsp;&nbsp; 2977245 |
| &nbsp;&nbsp; 1650000 | Miami-Dade County, FL Aviation Department, Aviation Revenue Refunding Bonds (Series 2024B), 5.000%, 10/1/2037 | &nbsp;&nbsp; 1883156 |
| &nbsp;&nbsp; 750000 | Orange County, FL, Health Facilities Authority (Orlando Health Obligated Group), Hospital Revenue Bonds (Series 2025A), <br> 5.000%, 10/1/2044<br>| &nbsp;&nbsp; 796033 |
| &nbsp;&nbsp; 2000000 | Palm Beach County, FL Health Facilities Authority (Jupiter Medical Center), Hospital Revenue Bonds (Series 2025), <br> 5.750%, 11/1/2050<br>| &nbsp;&nbsp; 2103510 |
| &nbsp;&nbsp; 750000 | Venice, FL (Village on the Isle), Retirement Community Revenue Improvement Bonds (Series 2024), 5.500%, 1/1/2055 | &nbsp;&nbsp; 736684 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27709846 |
|  | **Georgia—2.3%** |  |
| &nbsp;&nbsp; 2000000 | Atlanta, GA Development Authority (Westside Gulch Area Project (Spring Street Atlanta)), Convertible Capital Appreciation <br> Economic Development Certificates (Series 2024-1), (Original Issue Yield: 6.500%), 6.500%, 12/15/2048<br>| &nbsp;&nbsp; 1800692 |
| &nbsp;&nbsp; 1000000 | Atlanta, GA Water & Wastewater, Revenue Bonds (Series 2024B), 5.000%, 11/1/2041 | &nbsp;&nbsp; 1121322 |
| &nbsp;&nbsp; 2500000 | Atlanta, GA Water & Wastewater, Revenue Refunding Bonds (Series 2018C), (United States Treasury PRF 11/1/2027@100), <br> 5.000%, 11/1/2032<br>| &nbsp;&nbsp; 2617274 |
| &nbsp;&nbsp; 3000000 | Atlanta, GA, UT GO Public Improvement Bonds (Series 2022A-1), 5.000%, 12/1/2040 | &nbsp;&nbsp; 3310247 |
| &nbsp;&nbsp; 3000000 | Fayette County, GA Development Authority (United States Soccer Federation, Inc.), Revenue Bonds (Series 2024), <br> 5.250%, 10/1/2049<br>| &nbsp;&nbsp; 3093346 |
| &nbsp;&nbsp; 1000000 | Fayette County, GA Development Authority (United States Soccer Federation, Inc.), Revenue Bonds (Series 2024), <br> 5.250%, 10/1/2054<br>| &nbsp;&nbsp; 1024617 |
| &nbsp;&nbsp; 2500000 | Fulton County, GA Residential Care Facilities (Lenbrook Square Foundation, Inc.), Retirement Facility Refunding Revenue <br> Bonds (Series 2016), 5.000%, 7/1/2036<br>| &nbsp;&nbsp; 2504844 |
| &nbsp;&nbsp; 4000000 | Georgia State, UT GO Bonds (Series 2022A), 4.000%, 7/1/2042 | &nbsp;&nbsp; 4083685 |
| &nbsp;&nbsp; 2450000 | Georgia State, UT GO Bonds (Series 2023A), 5.000%, 7/1/2040 | &nbsp;&nbsp; 2743818 |

---

**5**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Georgia—continued** |  |
| $3940000 | Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project J Revenue Refunding Bonds (Series 2015A), <br> 5.000%, 7/1/2060<br>| &nbsp;&nbsp; $3884114 |
| &nbsp;&nbsp; 3515000 | Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project P Revenue Refunding Bonds (Series 2023A), <br> 5.500%, 7/1/2064<br>| &nbsp;&nbsp; 3623243 |
| &nbsp;&nbsp; 800000 | Savannah-Georgia Convention Center Authority (Savannah-Georgia Convention Center Hotel), Convention Center Hotel First <br> Tier Revenue Bonds (Series 2025A), (Original Issue Yield: 5.390%), 5.250%, 6/1/2061<br>| &nbsp;&nbsp; 788843 |
| &nbsp;&nbsp; 2100000<br><sup>2</sup> <br>| Savannah-Georgia Convention Center Authority (Savannah-Georgia Convention Center Hotel), Convention Center Hotel <br> Second Tier Revenue Bonds (Series 2025B), (Original Issue Yield: 6.300%), 6.000%, 6/1/2050<br>| &nbsp;&nbsp; 2073207 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32669252 |
|  | **Guam—0.1%** |  |
| &nbsp;&nbsp; 715000 | Guam Government, Business Privilege Tax Refunding Bonds (Series 2025G), 5.250%, 1/1/2039 | &nbsp;&nbsp; 787510 |
| &nbsp;&nbsp; 500000 | Guam Government, Business Privilege Tax Refunding Bonds (Series 2025G), 5.250%, 1/1/2040 | &nbsp;&nbsp; 545640 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1333150 |
|  | **Idaho—0.6%** |  |
| &nbsp;&nbsp; 8170000 | Idaho Housing and Finance Association, Sales Tax Revenue Bonds (Series 2024A), 5.000%, 8/15/2048 | &nbsp;&nbsp; 8589788 |
|  | **Illinois—3.4%** |  |
| &nbsp;&nbsp; 1000000 | Chicago, IL Board of Education, Dedicated Capital Improvement Tax Bonds (Series 2023), (Original Issue Yield: 5.190%), <br> 5.000%, 4/1/2045<br>| &nbsp;&nbsp; 1015973 |
| &nbsp;&nbsp; 1000000 | Chicago, IL Board of Education, UT GO Bonds (Series 2023A), 5.875%, 12/1/2047 | &nbsp;&nbsp; 1023647 |
| &nbsp;&nbsp; 5000000 | Chicago, IL Board of Education, UT GO Bonds (Series 2025A), 5.750%, 12/1/2050 | &nbsp;&nbsp; 5046751 |
| &nbsp;&nbsp; 625000 | Chicago, IL Board of Education, UT GO Dedicated Refunding Bonds (Series 2018D), (Original Issue Yield: 5.210%), <br> 5.000%, 12/1/2046<br>| &nbsp;&nbsp; 595897 |
| &nbsp;&nbsp; 2000000 | Chicago, IL O'Hare International Airport, General Airport Senior Lien Revenue Refunding Bonds (Series 2018B), <br> 5.000%, 1/1/2048<br>| &nbsp;&nbsp; 2023830 |
| &nbsp;&nbsp; 1335000 | Chicago, IL Transit Authority, Second Lien Sales Tax Receipts Revenue Bonds (Series 2020A), 5.000%, 12/1/2045 | &nbsp;&nbsp; 1360907 |
| &nbsp;&nbsp; 2000000 | Chicago, IL Wastewater Transmission, Second Lien Wastewater Transmission Revenue Bonds (Series 2023A), (Assured <br> Guaranty, Inc. INS), 5.250%, 1/1/2048<br>| &nbsp;&nbsp; 2072718 |
| &nbsp;&nbsp; 905000 | Chicago, IL, Refunding UT GO Bonds (Series 2016C), 5.000%, 1/1/2038 | &nbsp;&nbsp; 905473 |
| &nbsp;&nbsp; 3250000 | Chicago, IL, UT GO Bonds (Series 2023A), 5.250%, 1/1/2038 | &nbsp;&nbsp; 3426650 |
| &nbsp;&nbsp; 3000000 | Cook County, IL Sales Tax Revenue, Revenue Refunding Bonds (Series 2017), 5.000%, 11/15/2037 | &nbsp;&nbsp; 3096960 |
| &nbsp;&nbsp; 5000000 | Cook County, IL, Sales Tax Revenue Bonds (Series 2025), 5.000%, 11/15/2049 | &nbsp;&nbsp; 5139789 |
| &nbsp;&nbsp; 750000 | Cook County, IL, UT GO Refunding Bonds (Series 2022A), 5.000%, 11/15/2033 | &nbsp;&nbsp; 859455 |
| &nbsp;&nbsp; 320000 | DuPage County, IL (Naperville Campus LLC), Special Tax Bonds (Series 2006), 5.625%, 3/1/2036 | &nbsp;&nbsp; 320784 |
| &nbsp;&nbsp; 1500000 | Illinois Finance Authority (DePaul University), Revenue Bonds (Series 2016), 5.000%, 10/1/2041 | &nbsp;&nbsp; 1507761 |
| &nbsp;&nbsp; 2880000 | Illinois State, UT GO Bonds (Series 2017D), 5.000%, 11/1/2026 | &nbsp;&nbsp; 2932432 |
| &nbsp;&nbsp; 4320000 | Illinois State, UT GO Bonds (Series 2017D), 5.000%, 11/1/2028 | &nbsp;&nbsp; 4493379 |
| &nbsp;&nbsp; 705000 | Illinois State, UT GO Bonds (Series 2023B), 5.500%, 5/1/2047 | &nbsp;&nbsp; 740485 |
| &nbsp;&nbsp; 750000 | Illinois State, UT GO Bonds (Series 2024), 5.000%, 2/1/2038 | &nbsp;&nbsp; 831217 |
| &nbsp;&nbsp; 4000000 | Illinois State, UT GO Refunding Bonds (Series 2018A), 5.000%, 10/1/2026 | &nbsp;&nbsp; 4064769 |
| &nbsp;&nbsp; 540000 | Illinois State, UT GO Refunding Bonds (Series 2021A), 4.000%, 3/1/2041 | &nbsp;&nbsp; 523882 |
| &nbsp;&nbsp; 4400000 | Metropolitan Pier & Exposition Authority, IL, McCormick Place Expansion Project Bonds (Series 2015A), (Original Issue Yield: <br> 5.060%), 5.000%, 6/15/2053<br>| &nbsp;&nbsp; 4317549 |
| &nbsp;&nbsp; 1500000 | Sales Tax Securitization Corp., IL, Second Lien Sales Tax Bonds (Series 2024A), 5.000%, 1/1/2037 | &nbsp;&nbsp; 1685178 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47985486 |
|  | **Indiana—1.9%** |  |
| &nbsp;&nbsp; 4000000 | Indiana Finance Authority (Indiana University Health Obligated Group), Revenue Bonds (Series 2025D-2), 5.000%, Mandatory <br> Tender 10/1/2031<br>| &nbsp;&nbsp; 4454347 |
| &nbsp;&nbsp; 3735000 | Indiana Municipal Power Agency, Power Supply System Refunding Revenue Bonds (Series 2022A), 5.500%, 1/1/2053 | &nbsp;&nbsp; 3919598 |
| &nbsp;&nbsp; 1250000 | Indiana Municipal Power Agency, Revenue Refunding Bonds (Series 2017A), 5.000%, 1/1/2042 | &nbsp;&nbsp; 1286222 |
| &nbsp;&nbsp; 5000000 | Indiana State Finance Authority (CWA Authority, Inc.), First Lien Wastewater Utility Revenue Bonds (Series 2022B), <br> 5.250%, 10/1/2047<br>| &nbsp;&nbsp; 5219868 |
| &nbsp;&nbsp; 2000000 | Indiana State Finance Authority (Marquette Project), Revenue Bonds (Series 2025A), 5.250%, 3/1/2050 | &nbsp;&nbsp; 2012718 |

---

**6**

------

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Indiana—continued** |  |
| $1500000 | Indiana State Finance Authority Hospital Revenue (Methodist Hospital of Indiana), Hospital Revenue Refunding Bonds <br> (Series 2024A), 5.500%, 9/15/2039<br>| &nbsp;&nbsp; $1620145 |
| &nbsp;&nbsp; 2330000 | Indianapolis, IN Local Public Improvement Bond Bank (Indiana Convention Center Hotel), Senior Revenue Bonds <br> (Series 2023E), (Original Issue Yield: 6.170%), 6.000%, 3/1/2053<br>| &nbsp;&nbsp; 2422643 |
| &nbsp;&nbsp; 1000000 | Indianapolis, IN Local Public Improvement Bond Bank (Indiana Convention Center Hotel), Senior Revenue Bonds <br> (Series 2023E), (Original Issue Yield: 6.270%), 6.125%, 3/1/2057<br>| &nbsp;&nbsp; 1045867 |
| &nbsp;&nbsp; 2500000 | Rockport, IN (Indiana Michigan Power Co.), Pollution Control Revenue Refunding Bonds (Series 2025A), 3.700%, Mandatory <br> Tender 6/1/2029<br>| &nbsp;&nbsp; 2547999 |
| &nbsp;&nbsp; 1875000 | Whiting, IN Environmental Facilities (BP PLC), Environmental Facilities Revenue Bonds (Series 2008), 4.200%, Mandatory <br> Tender 6/21/2035<br>| &nbsp;&nbsp; 1992965 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26522372 |
|  | **Iowa—0.4%** |  |
| &nbsp;&nbsp; 5300000 | Iowa Finance Authority (Iowa Fertilizer Co. LLC), Midwestern Disaster Area Revenue Refunding Bonds (Series 2022), (United <br> States Treasury PRF 12/1/2032@100), 5.000%, 12/1/2050<br>| &nbsp;&nbsp; 6154883 |
|  | **Kentucky—0.6%** |  |
| &nbsp;&nbsp; 5565000<br><sup>3</sup> <br>| Kentucky Public Energy Authority, Gas Supply Revenue Bonds (Series 2022A-2) FRNs, (Morgan Stanley GTD), 3.646% (SOFR <br> x 0.67 +1.200%), Mandatory Tender 8/1/2030<br>| &nbsp;&nbsp; 5622185 |
| &nbsp;&nbsp; 3000000 | Kentucky Public Energy Authority, Gas Supply Revenue Refunding Bonds (Series 2024B), (BP PLC GTD), 5.000%, Mandatory <br> Tender 8/1/2032<br>| &nbsp;&nbsp; 3232098 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8854283 |
|  | **Louisiana—0.2%** |  |
| &nbsp;&nbsp; 2400000 | Louisiana Stadium and Exposition District, Senior Revenue Bonds (Series 2023A), 5.000%, 7/1/2048 | &nbsp;&nbsp; 2458754 |
| &nbsp;&nbsp; 1000000 | Louisiana Stadium and Exposition District, Senior Revenue Bonds (Series 2023A), 5.250%, 7/1/2053 | &nbsp;&nbsp; 1031402 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3490156 |
|  | **Maryland—0.7%** |  |
| &nbsp;&nbsp; 6000000 | Anne Arundel County, MD, LT GO Bonds (Series 2018), 5.000%, 10/1/2032 | &nbsp;&nbsp; 6243714 |
| &nbsp;&nbsp; 1500000<br><sup>2</sup> <br>| Maryland State Economic Development Corp. (Core Natural Resources, Inc.), Port Facilities Refunding Revenue Bonds <br> (Series 2025), 5.000%, Mandatory Tender 3/27/2035<br>| &nbsp;&nbsp; 1604204 |
| &nbsp;&nbsp; 270000 | Maryland State Economic Development Corp. (Ports America Chesapeake, Inc.), Transportation Facilities Revenue Refunding <br> Bonds (Series 2017A), 5.000%, 6/1/2031<br>| &nbsp;&nbsp; 281767 |
| &nbsp;&nbsp; 550000 | Maryland State Economic Development Corp. (Ports America Chesapeake, Inc.), Transportation Facilities Revenue Refunding <br> Bonds (Series 2017A), 5.000%, 6/1/2035<br>| &nbsp;&nbsp; 569303 |
| &nbsp;&nbsp; 555000 | Westminster, MD (Lutheran Village at Miller's Grant, Inc.), Revenue Bonds (Series 2014A), 6.000%, 7/1/2034 | &nbsp;&nbsp; 555567 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9254555 |
|  | **Massachusetts—1.1%** |  |
| &nbsp;&nbsp; 1345000 | Commonwealth of Massachusetts, UT GO Consolidated Loan Bonds (Series 2022C), 5.000%, 11/1/2048 | &nbsp;&nbsp; 1401448 |
| &nbsp;&nbsp; 5000000 | Commonwealth of Massachusetts, UT GO Consolidated Loan Bonds (Series 2022C), 5.250%, 10/1/2052 | &nbsp;&nbsp; 5238793 |
| &nbsp;&nbsp; 1660000 | Massachusetts Bay Transportation Authority Sales Tax Revenue, Senior Sales Tax Bonds (Series 2023A-1), (Original Issue <br> Yield: 4.260%), 4.000%, 7/1/2053<br>| &nbsp;&nbsp; 1518758 |
| &nbsp;&nbsp; 5000000 | Massachusetts Development Finance Agency (Mass General Brigham), Revenue Bonds (Series 2016Q), 5.000%, 7/1/2041 | &nbsp;&nbsp; 5027803 |
| &nbsp;&nbsp; 2500000 | Massachusetts Development Finance Agency (Northeastern University), Revenue Bonds (Series 2022), 5.000%, 10/1/2044 | &nbsp;&nbsp; 2662124 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15848926 |
|  | **Michigan—0.7%** |  |
| &nbsp;&nbsp; 2980000 | Great Lakes, MI Water Authority (Great Lakes, MI Water Authority Water Supply System Revenue), Water Supply System <br> Revenue Senior Lien Bonds (Series 2022A), 5.250%, 7/1/2052<br>| &nbsp;&nbsp; 3117607 |
| &nbsp;&nbsp; 1530000 | Michigan State Building Authority, Revenue and Revenue Refunding Bonds Facilities Program (Series 2019- I), <br> 4.000%, 4/15/2054<br>| &nbsp;&nbsp; 1381048 |
| &nbsp;&nbsp; 1250000 | Michigan State Finance Authority (Beaumont Health Spectrum Health System), Hospital Revenue Refunding Bonds <br> (Series 2022A), 5.000%, 4/15/2038<br>| &nbsp;&nbsp; 1367872 |
| &nbsp;&nbsp; 1500000 | Michigan State Finance Authority (Provident Group - HFH Energy LLC), Act 38 Facilities Senior Revenue Bonds (Series 2024), <br> (Original Issue Yield: 4.600%), 4.375%, 2/28/2054<br>| &nbsp;&nbsp; 1411296 |
| &nbsp;&nbsp; 2500000 | Wayne County, MI Airport Authority, Airport Revenue Bonds (Series 2025A), 5.500%, 12/1/2050 | &nbsp;&nbsp; 2701151 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9978974 |

---

**7**

------

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Minnesota—0.6%** |  |
| $1000000 | Forest Lake, MN (Lakes International Language Academy), Charter School Lease Revenue Bonds (Series 2018A), <br> 5.375%, 8/1/2050<br>| &nbsp;&nbsp; $977289 |
| &nbsp;&nbsp; 1540000 | Minneapolis-St. Paul, MN Metropolitan Airports Commission, Subordinate Airport Revenue Bonds (Series 2022A), <br> 5.000%, 1/1/2052<br>| &nbsp;&nbsp; 1567147 |
| &nbsp;&nbsp; 5000000<br><sup>3</sup> <br>| Minnesota Municipal Gas Agency, Commodity Supply Revenue Bonds (Series 2022B) FRNs, (Royal Bank of Canada GTD), <br> 3.439% (SOFR x 0.67 +1.000%), Mandatory Tender 12/1/2027<br>| &nbsp;&nbsp; 5013546 |
| &nbsp;&nbsp; 1000000 | St. Cloud, MN (CentraCare Health System), Health Care Revenue Bonds (Series 2024), (Original Issue Yield: 4.150%), <br> 4.000%, 5/1/2050<br>| &nbsp;&nbsp; 882530 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8440512 |
|  | **Missouri—0.6%** |  |
| &nbsp;&nbsp; 4000000<br><sup>2</sup> <br>| Kansas City, MO Redevelopment Authority (Kansas City Convention Center Headquarters Hotel CID), Revenue Bonds <br> (Series 2018B), (Original Issue Yield: 5.079%), 5.000%, 2/1/2050<br>| &nbsp;&nbsp; 3911557 |
| &nbsp;&nbsp; 2000000 | Missouri State HEFA (Lutheran Senior Services), Senior Living Services Projects (Series 2024A), 5.250%, 2/1/2048 | &nbsp;&nbsp; 2018583 |
| &nbsp;&nbsp; 1000000 | Missouri State HEFA (Lutheran Senior Services), Senior Living Services Projects (Series 2024A), 5.250%, 2/1/2054 | &nbsp;&nbsp; 1002240 |
| &nbsp;&nbsp; 1250000 | St. Louis, MO Lambert International Airport, Airport Revenue Bonds (Series 2017C), (Assured Guaranty, Inc. INS), <br> 5.000%, 7/1/2042<br>| &nbsp;&nbsp; 1270574 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8202954 |
|  | **Nevada—0.2%** |  |
| &nbsp;&nbsp; 2200000 | Reno-Tahoe, NV Airport Authority, Airport Revenue Bonds (Series 2024B), 5.000%, 7/1/2049 | &nbsp;&nbsp; 2255426 |
|  | **New Hampshire—0.3%** |  |
| &nbsp;&nbsp; 2035000<br><sup>2</sup> <br>| National Finance Authority, NH (Attwater Project Texas MUD No. 38), Special Revenue Capital Appreciation Bonds <br> (Series 2024), (Original Issue Yield: 6.250%), 6.250%, 4/1/2032<br>| &nbsp;&nbsp; 1362700 |
| &nbsp;&nbsp; 1900000<br><sup>2</sup> <br>| National Finance Authority, NH (Grand Prairie Project, Harris County, TX MUD), Special Revenue Bonds (Series 2024), <br> (Original Issue Yield: 6.000%), 5.875%, 12/15/2032<br>| &nbsp;&nbsp; 1900441 |
| &nbsp;&nbsp; 1467377 | National Finance Authority, NH, Municipal Certificates (Series 2024-1 Class A), (Original Issue Yield: 4.510%), <br> 4.250%, 7/20/2041<br>| &nbsp;&nbsp; 1488072 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4751213 |
|  | **New Jersey—2.9%** |  |
| &nbsp;&nbsp; 1800000 | New Jersey EDA (New Jersey State), North Portal Bridge Project (Series 2022), 5.250%, 11/1/2041 | &nbsp;&nbsp; 1977500 |
| &nbsp;&nbsp; 4000000 | New Jersey EDA (New Jersey State), North Portal Bridge Project (Series 2022), 5.250%, 11/1/2047 | &nbsp;&nbsp; 4211162 |
| &nbsp;&nbsp; 1000000 | New Jersey EDA (New Jersey State), School Facilities Construction Refunding Bonds (Series 2017 DDD), (United States <br> Treasury PRF 6/15/2027@100), 5.000%, 6/15/2033<br>| &nbsp;&nbsp; 1038267 |
| &nbsp;&nbsp; 930000 | New Jersey EDA (New Jersey State), School Facilities Construction Refunding Bonds (Series 2018EEE), (United States <br> Treasury PRF 12/15/2028@100), 5.000%, 6/15/2043<br>| &nbsp;&nbsp; 1003786 |
| &nbsp;&nbsp; 1570000 | New Jersey EDA (New Jersey State), School Facilities Construction Refunding Bonds (Series 2018EEE), 5.000%, 6/15/2043 | &nbsp;&nbsp; 1623605 |
| &nbsp;&nbsp; 750000 | New Jersey State Educational Facilities Authority (New Jersey State), Higher Education Capital Improvement Fund <br> (Series 2023A), 5.250%, 9/1/2053<br>| &nbsp;&nbsp; 781278 |
| &nbsp;&nbsp; 1000000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Federal Highway Reimbursement Revenue <br> Refunding Notes (Series 2018A), 5.000%, 6/15/2031<br>| &nbsp;&nbsp; 1008534 |
| &nbsp;&nbsp; 1000000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation Program Bonds (Series 2022AA), <br> 5.000%, 6/15/2035<br>| &nbsp;&nbsp; 1126090 |
| &nbsp;&nbsp; 1000000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation Program Bonds (Series 2023BB), <br> 5.000%, 6/15/2037<br>| &nbsp;&nbsp; 1133919 |
| &nbsp;&nbsp; 2000000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation Program Bonds (Series 2024AA), <br> 4.000%, 6/15/2042<br>| &nbsp;&nbsp; 1987544 |
| &nbsp;&nbsp; 1500000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation Program Bonds (Series 2025AA), <br> 5.000%, 6/15/2045<br>| &nbsp;&nbsp; 1599544 |
| &nbsp;&nbsp; 1150000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation System Bonds (Series 2018A), <br> 5.000%, 12/15/2034<br>| &nbsp;&nbsp; 1222201 |
| &nbsp;&nbsp; 1000000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation System Bonds (Series 2023AA), <br> (Original Issue Yield: 4.250%), 4.250%, 6/15/2044<br>| &nbsp;&nbsp; 1001235 |
| &nbsp;&nbsp; 2000000 | New Jersey State Transportation Trust Fund Authority, Transportation System Bonds (Series 2022CC), (United States Treasury <br> PRF 12/15/2032@100), 5.000%, 6/15/2048<br>| &nbsp;&nbsp; 2332557 |
| &nbsp;&nbsp; 4000000 | New Jersey Turnpike Authority, Turnpike Revenue Bonds (Series 2019A), 5.000%, 1/1/2048 | &nbsp;&nbsp; 4093481 |
| &nbsp;&nbsp; 3500000 | New Jersey Turnpike Authority, Turnpike Revenue Bonds (Series 2022B), 5.250%, 1/1/2052 | &nbsp;&nbsp; 3674134 |

---

**8**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **New Jersey—continued** |  |
| $4745000 | Tobacco Settlement Financing Corp., NJ, Tobacco Settlement Asset-Backed Senior Refunding Bonds (Series 2018A), <br> 5.000%, 6/1/2035<br>| &nbsp;&nbsp; $4888461 |
| &nbsp;&nbsp; 7005000 | Tobacco Settlement Financing Corp., NJ, Tobacco Settlement Asset-Backed Subordinate Refunding Bonds (Series 2018B), <br> 5.000%, 6/1/2046<br>| &nbsp;&nbsp; 6799098 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41502396 |
|  | **New Mexico—0.2%** |  |
| &nbsp;&nbsp; 2175000 | New Mexico State Hospital Equipment Loan Council (Presbyterian Healthcare Services), Hospital System Revenue Bonds <br> (Series 2017A), 5.000%, 8/1/2046<br>| &nbsp;&nbsp; 2188136 |
|  | **New York—3.8%** |  |
| &nbsp;&nbsp; 1000000 | Build NYC Resource Corporation (KIPP NYC Canal West), Revenue Bonds (Series 2022), 5.250%, 7/1/2052 | &nbsp;&nbsp; 1000028 |
| &nbsp;&nbsp; 2860000 | Build NYC Resource Corporation (KIPP NYC Canal West), Revenue Bonds (Series 2022), 5.250%, 7/1/2057 | &nbsp;&nbsp; 2838374 |
| &nbsp;&nbsp; 1500000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Transportation Revenue Green Bonds <br> (Series 2020C-1), 5.000%, 11/15/2050<br>| &nbsp;&nbsp; 1518496 |
| &nbsp;&nbsp; 1000000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Transportation Revenue Refunding Bonds <br> (Series 2025B), 5.000%, 11/15/2043<br>| &nbsp;&nbsp; 1066616 |
| &nbsp;&nbsp; 3175000 | Monroe County, NY IDC (University of Rochester), Revenue Bonds (Series 2017C), 4.000%, 7/1/2043 | &nbsp;&nbsp; 3103156 |
| &nbsp;&nbsp; 2225000 | New York City Housing Development Corp., Multifamily Housing Revenue Bonds (Series 2024B-1), 4.850%, 11/1/2059 | &nbsp;&nbsp; 2228789 |
| &nbsp;&nbsp; 2500000 | New York City, NY Municipal Water Finance Authority, Water and Sewer System Second General Resolution Revenue Bonds <br> (Series 2022AA-3), 5.000%, 6/15/2047<br>| &nbsp;&nbsp; 2612218 |
| &nbsp;&nbsp; 3000000 | New York City, NY Transitional Finance Authority, Building Aid Revenue Bonds (Series 2019S-3A), 5.000%, 7/15/2032 | &nbsp;&nbsp; 3188091 |
| &nbsp;&nbsp; 2000000 | New York City, NY Transitional Finance Authority, Future Tax Secured Subordinate Bonds (Series 2023F-1), (Original Issue <br> Yield: 4.450%), 4.000%, 2/1/2051<br>| &nbsp;&nbsp; 1831390 |
| &nbsp;&nbsp; 3000000 | New York City, NY Transitional Finance Authority, Future Tax Secured Subordinate Bonds (Series 2025H-1), <br> 5.000%, 11/1/2038<br>| &nbsp;&nbsp; 3422111 |
| &nbsp;&nbsp; 2000000 | New York City, NY Transitional Finance Authority, Future Tax Secured Subordinate Bonds (Series 2026A), 5.000%, 5/1/2040 | &nbsp;&nbsp; 2251114 |
| &nbsp;&nbsp; 1500000 | New York City, NY, UT GO Bonds (Series 2023B-B1), 5.250%, 10/1/2047 | &nbsp;&nbsp; 1565236 |
| &nbsp;&nbsp; 2500000<br><sup>2</sup> <br>| New York Liberty Development Corporation (3 World Trade Center), Revenue Bonds (Series 2014 Class 1), <br> 5.000%, 11/15/2044<br>| &nbsp;&nbsp; 2500047 |
| &nbsp;&nbsp; 2260000 | New York State Dormitory Authority (Fordham University), Revenue Bonds (Series 2020), 4.000%, 7/1/2046 | &nbsp;&nbsp; 2043136 |
| &nbsp;&nbsp; 4500000 | New York State Dormitory Authority (New York School Districts Revenue Bond Financing Program), School Districts Revenue <br> Bond Financing Program (Series 2022B), (Build America Mutual Assurance INS), 5.000%, 10/1/2034<br>| &nbsp;&nbsp; 4967761 |
| &nbsp;&nbsp; 4000000 | New York State HFA, Revenue Bonds (Series 2025D-1), 5.000%, 5/1/2069 | &nbsp;&nbsp; 4008608 |
| &nbsp;&nbsp; 5405000 | New York State Thruway Authority - Personal Income Tax Revenue (New York State Personal Income Tax Revenue Bond <br> Fund), Revenue Bonds (Series 2022A), 4.000%, 3/15/2051<br>| &nbsp;&nbsp; 4976879 |
| &nbsp;&nbsp; 1010000 | New York State Thruway Authority (New York State Thruway Authority - General Revenue), General Revenue Bonds <br> (Series 2020N), 5.000%, 1/1/2040<br>| &nbsp;&nbsp; 1075195 |
| &nbsp;&nbsp; 4475000 | New York Transportation Development Corporation (JFK International Air Terminal LLC), Special Facilities Revenue Bonds <br> (Series 2020C), 4.000%, 12/1/2040<br>| &nbsp;&nbsp; 4453483 |
| &nbsp;&nbsp; 1000000 | Suffolk County, NY Off-Track Betting Corp., Revenue Bonds (Series 2024), (Original Issue Yield: 5.076%), 5.000%, 12/1/2034 | &nbsp;&nbsp; 1036913 |
| &nbsp;&nbsp; 1000000 | Suffolk County, NY Off-Track Betting Corp., Revenue Bonds (Series 2024), (Original Issue Yield: 6.100%), 6.000%, 12/1/2053 | &nbsp;&nbsp; 1019641 |
| &nbsp;&nbsp; 1250000 | Triborough Bridge & Tunnel Authority, NY (Triborough Bridge & Tunnel Authority Real Estate Transfer Tax), TBTA Lockbox <br> Fund Revenue Bonds (Series 2025A), 5.000%, 12/1/2043<br>| &nbsp;&nbsp; 1358266 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54065548 |
|  | **North Carolina—0.6%** |  |
| &nbsp;&nbsp; 1250000 | Charlotte, NC Aviation Department, Airport Revenue Bonds (Series 2017A), 5.000%, 7/1/2042 | &nbsp;&nbsp; 1273339 |
| &nbsp;&nbsp; 5000000 | Charlotte, NC Aviation Department, Airport Revenue Bonds (Series 2022A), 4.000%, 7/1/2052 | &nbsp;&nbsp; 4700607 |
| &nbsp;&nbsp; 1000000 | North Carolina Medical Care Commission (Penick Village), Retirement Facilities First Mortgage Revenue Bonds (Series 2024), <br> 5.500%, 9/1/2044<br>| &nbsp;&nbsp; 1031271 |
| &nbsp;&nbsp; 1500000 | North Carolina Municipal Power Agency No. 1, Refunding Revenue Bonds (Series 2015A), 5.000%, 1/1/2031 | &nbsp;&nbsp; 1510898 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8516115 |
|  | **Ohio—1.1%** |  |
| &nbsp;&nbsp; 3405000 | Avon Lake, OH City School District, School Facilities Bonds (Series 2025), (Original Issue Yield: 4.790%), 4.625%, 12/1/2059 | &nbsp;&nbsp; 3344043 |
| &nbsp;&nbsp; 1000000 | Hamilton County, OH (Life Enriching Communities), Healthcare Improvement and Refunding Revenue Bonds (Series 2016), <br> 5.000%, 1/1/2051<br>| &nbsp;&nbsp; 960430 |

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**9**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Ohio—continued** |  |
| $900000 | Hamilton County, OH (Life Enriching Communities), Healthcare Improvement and Refunding Revenue Bonds (Series 2025), <br> 5.500%, 1/1/2050<br>| &nbsp;&nbsp; $920560 |
| &nbsp;&nbsp; 3000000 | Hamilton County, OH (Life Enriching Communities), Healthcare Improvement and Refunding Revenue Bonds (Series 2025), <br> 5.500%, 1/1/2055<br>| &nbsp;&nbsp; 3055984 |
| &nbsp;&nbsp; 1500000 | Hamilton County, OH (Life Enriching Communities), Hospital Revenue Bonds (Series 2023A), 5.750%, 1/1/2053 | &nbsp;&nbsp; 1549577 |
| &nbsp;&nbsp; 1080000 | Muskingum County, OH (Genesis Healthcare Corp.), Hospital Facilities Revenue Bonds (Series 2013), 5.000%, 2/15/2027 | &nbsp;&nbsp; 1086111 |
| &nbsp;&nbsp; 2000000 | Ohio State, Common Schools UT GO Bonds (Series 2025A), 5.000%, 6/15/2035 | &nbsp;&nbsp; 2388006 |
| &nbsp;&nbsp; 1500000 | Port of Greater Cincinnati, OH Development Authority (Duke Energy Convention Center), First Subordinate Development <br> Revenue and Refunding Bonds (Series 2024B), (Assured Guaranty, Inc. INS), 4.375%, 12/1/2058<br>| &nbsp;&nbsp; 1428091 |
| &nbsp;&nbsp; 1000000 | University of Cincinnati, OH, General Receipts Bonds (Series 2019A), 4.000%, 6/1/2035 | &nbsp;&nbsp; 1030191 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15762993 |
|  | **Oklahoma—0.1%** |  |
| &nbsp;&nbsp; 1250000 | Tulsa County, OK Industrial Authority (Montereau, Inc.), Senior Living Community Revenue Refunding Bonds (Series 2017), <br> 5.250%, 11/15/2037<br>| &nbsp;&nbsp; 1270387 |
|  | **Oregon—0.3%** |  |
| &nbsp;&nbsp; 3525000 | Oregon State Housing and Community Services Department, Single Family Mortgage Program (Series 2023A), <br> 4.600%, 7/1/2043<br>| &nbsp;&nbsp; 3598675 |
| &nbsp;&nbsp; 1000000 | Oregon State, UT GO Bonds (Series 2025A), 5.000%, 5/1/2033 | &nbsp;&nbsp; 1169712 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4768387 |
|  | **Pennsylvania—2.4%** |  |
| &nbsp;&nbsp; 4000000 | Allegheny County, PA Sanitation Authority, Sewer Revenue Bonds (Series 2022), 5.750%, 6/1/2047 | &nbsp;&nbsp; 4335799 |
| &nbsp;&nbsp; 1000000 | Commonwealth Financing Authority of PA (Commonwealth of Pennsylvania), Tobacco Master Settlement Payment Revenue <br> Bonds (Series 2018), 5.000%, 6/1/2033<br>| &nbsp;&nbsp; 1048037 |
| &nbsp;&nbsp; 5000000 | Commonwealth of Pennsylvania, UT GO Bonds (First Series 2022), 5.000%, 10/1/2042 | &nbsp;&nbsp; 5370420 |
| &nbsp;&nbsp; 455000 | Cumberland County, PA Municipal Authority (Diakon Lutheran Social Ministries), Revenue Bonds (Series 2015), <br> 5.000%, 1/1/2038<br>| &nbsp;&nbsp; 455330 |
| &nbsp;&nbsp; 1360000 | Lancaster County, PA Hospital Authority (University of Pennsylvania Health System), Revenue Refunding Bonds (Series 2016), <br> 5.000%, 8/15/2042<br>| &nbsp;&nbsp; 1367310 |
| &nbsp;&nbsp; 1000000 | Lancaster, PA Municipal Authority (Garden Spot Village), Healthcare Facilities Revenue Bonds (Series 2024A), <br> 5.000%, 5/1/2044<br>| &nbsp;&nbsp; 1020806 |
| &nbsp;&nbsp; 605000 | Lancaster, PA Municipal Authority (Garden Spot Village), Healthcare Facilities Revenue Bonds (Series 2024A), <br> 5.000%, 5/1/2049<br>| &nbsp;&nbsp; 602469 |
| &nbsp;&nbsp; 1145000 | Pennsylvania State Economic Development Financing Authority (UPMC Health System), Revenue Bonds (Series 2023A-2), <br> 4.000%, 5/15/2053<br>| &nbsp;&nbsp; 986470 |
| &nbsp;&nbsp; 5000000 | Pennsylvania State Higher Education Facilities Authority (Thomas Jefferson University Obligated Group), Revenue Bonds <br> (Series 2024B-1), (Assured Guaranty, Inc. INS), 4.250%, 11/1/2051<br>| &nbsp;&nbsp; 4627301 |
| &nbsp;&nbsp; 2430000 | Pennsylvania State Turnpike Commission, Subordinate Revenue Bonds (Series 2019A), 5.000%, 12/1/2044 | &nbsp;&nbsp; 2515150 |
| &nbsp;&nbsp; 1155000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2022B), 5.250%, 12/1/2052 | &nbsp;&nbsp; 1210993 |
| &nbsp;&nbsp; 4240000 | Pennsylvania State University, Revenue Bonds (Series 2022A), 5.000%, 9/1/2047 | &nbsp;&nbsp; 4424499 |
| &nbsp;&nbsp; 330000 | Philadelphia, PA Authority for Industrial Development (PresbyHomes Germantown/Morrisville), Senior Living Revenue Bonds <br> (Series 2005A), 5.625%, 7/1/2035<br>| &nbsp;&nbsp; 330542 |
| &nbsp;&nbsp; 2500000 | Philadelphia, PA Water & Wastewater System, Water and Wastewater Revenue Bonds (Series 2024C), (Assured Guaranty, Inc. <br> INS), 5.250%, 9/1/2054<br>| &nbsp;&nbsp; 2640048 |
| &nbsp;&nbsp; 2990000 | Upper St Clair TWP PA School District, UT GO Bonds (Series 2025), 4.000%, 10/1/2043 | &nbsp;&nbsp; 2979116 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33914290 |
|  | **Puerto Rico—1.6%** |  |
| &nbsp;&nbsp; 2490792 | Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 4.000%, 7/1/2035 | &nbsp;&nbsp; 2501203 |
| &nbsp;&nbsp; 4000000 | Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 5.750%, 7/1/2031 | &nbsp;&nbsp; 4415856 |
| &nbsp;&nbsp; 6250000<br><sup>2</sup> <br>| Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Refunding Bonds (Series 2020A), 5.000%, 7/1/2047 | &nbsp;&nbsp; 6195866 |
| &nbsp;&nbsp; 5018000 | Puerto Rico Sales Tax Financing Corp., Restructured Capital Appreciation Sales Tax Bonds (Series 2019A-1), (Original Issue <br> Yield: 5.375%), 5.350%, 7/1/2046<br>| &nbsp;&nbsp; 1738644 |
| &nbsp;&nbsp; 3000000 | Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A), (Original Issue Yield: 5.154%), <br> 5.000%, 7/1/2058<br>| &nbsp;&nbsp; 2936261 |

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**10**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Puerto Rico—continued** |  |
| $5000000 | Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A-1), 4.750%, 7/1/2053 | &nbsp;&nbsp; $4822642 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22610472 |
|  | **Rhode Island—0.3%** |  |
| &nbsp;&nbsp; 4500000 | Tobacco Settlement Financing Corp., RI, Tobacco Settlement Asset-Backed Bonds (Series 2015B), 5.000%, 6/1/2050 | &nbsp;&nbsp; 4441683 |
|  | **South Carolina—0.1%** |  |
| &nbsp;&nbsp; 1625000 | South Carolina State Public Service Authority (Santee Cooper), Revenue and Refunding Bonds (Series 2025B), <br> 5.000%, 12/1/2044<br>| &nbsp;&nbsp; 1730551 |
|  | **Tennessee—1.0%** |  |
| &nbsp;&nbsp; 5000000 | Metropolitan Government Nashville & Davidson County, TN, UT GO Improvement Bonds (Series 2018), 5.000%, 7/1/2031 | &nbsp;&nbsp; 5296239 |
| &nbsp;&nbsp; 1500000 | Metropolitan Nashville, TN Airport Authority, Airport Improvement Revenue Bonds (Series 2022A), 5.250%, 7/1/2047 | &nbsp;&nbsp; 1575001 |
| &nbsp;&nbsp; 2705000 | Metropolitan Nashville, TN Airport Authority, Subordinate Airport Revenue Bonds (Series 2019A), 4.000%, 7/1/2049 | &nbsp;&nbsp; 2512457 |
| &nbsp;&nbsp; 4000000 | Tennessee Energy Acquisition Corp., Gas Project Revenue Bonds (Series 2026A), (Massachusetts Mutual Life Insurance Co. <br> GTD), 5.000%, 11/1/2034<br>| &nbsp;&nbsp; 4347836 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13731533 |
|  | **Texas—6.5%** |  |
| &nbsp;&nbsp; 2000000 | Cedar Hill, TX Independent School District, UT GO Bonds (Series 2024), (Texas Permanent School Fund Guarantee Program <br> GTD), 4.000%, 2/15/2050<br>| &nbsp;&nbsp; 1858900 |
| &nbsp;&nbsp; 1500000 | Central Texas Regional Mobility Authority, Senior Lien Revenue Bonds (Series 2020E), 4.000%, 1/1/2050 | &nbsp;&nbsp; 1344774 |
| &nbsp;&nbsp; 1985000 | Conroe, TX Independent School District, UT GO Tax School Building Bonds (Series 2022), (Texas Permanent School Fund <br> Guarantee Program GTD), 4.000%, 2/15/2047<br>| &nbsp;&nbsp; 1878719 |
| &nbsp;&nbsp; 2000000 | Crowley, TX Independent School District, UT GO Refunding Bonds (Series 2025), (Texas Permanent School Fund Guarantee <br> Program GTD), 4.250%, 2/1/2047<br>| &nbsp;&nbsp; 1967048 |
| &nbsp;&nbsp; 2000000 | Dallas-Fort Worth, TX International Airport, Joint Revenue Refunding and Improvement Bonds (Series 2024), (Original Issue <br> Yield: 4.280%), 4.000%, 11/1/2049<br>| &nbsp;&nbsp; 1823719 |
| &nbsp;&nbsp; 1350000 | Dallas-Fort Worth, TX International Airport, Joint Revenue Refunding and Improvement Bonds (Series 2025B), <br> 5.000%, 11/1/2042<br>| &nbsp;&nbsp; 1487375 |
| &nbsp;&nbsp; 7355000 | Dallas-Fort Worth, TX International Airport, Joint Revenue Refunding Bonds (Series 2022B), 4.000%, 11/1/2045 | &nbsp;&nbsp; 7031640 |
| &nbsp;&nbsp; 8215000 | DeSoto, TX Independent School District, UT GO School Building Bonds (Series 2025), (Texas Permanent School Fund <br> Guarantee Program GTD), 5.250%, 8/15/2045<br>| &nbsp;&nbsp; 8837493 |
| &nbsp;&nbsp; 865000 | Eagle Mountain-Saginaw, TX Independent School District, UT GO School Building Bonds (Series 2025), (Texas Permanent <br> School Fund Guarantee Program GTD), 5.000%, 8/15/2044<br>| &nbsp;&nbsp; 929163 |
| &nbsp;&nbsp; 1000000 | Eagle Mountain-Saginaw, TX Independent School District, UT GO School Building Bonds (Series 2025), (Texas Permanent <br> School Fund Guarantee Program GTD), 5.000%, 8/15/2045<br>| &nbsp;&nbsp; 1061816 |
| &nbsp;&nbsp; 2000000 | Harris County, TX Cultural Education Facilities Finance Corp. (Brazos Presbyterian Homes Holding, Inc.), First Mortgage <br> Revenue Bonds (Series 2016), 5.000%, 1/1/2048<br>| &nbsp;&nbsp; 1931999 |
| &nbsp;&nbsp; 4870000 | Harris County, TX IDC (Energy Transfer LP), Marine Terminal Refunding Revenue Bonds (Series 2023), 4.050%, Mandatory <br> Tender 6/1/2033<br>| &nbsp;&nbsp; 5030516 |
| &nbsp;&nbsp; 1045000 | Harris County-Houston, TX Sports Authority, Senior Lien Revenue Refunding Bonds (Series 2024A), (Assured Guaranty, Inc. <br> INS), 5.000%, 11/15/2037<br>| &nbsp;&nbsp; 1178632 |
| &nbsp;&nbsp; 1255000 | Harris County-Houston, TX Sports Authority, Senior Lien Revenue Refunding Bonds (Series 2024A), (Assured Guaranty, Inc. <br> INS), 5.000%, 11/15/2038<br>| &nbsp;&nbsp; 1403889 |
| &nbsp;&nbsp; 2000000 | Houston, TX Combined Utility System, First Lien Revenue & Refunding Bonds (Series 2014D), 5.000%, 11/15/2044 | &nbsp;&nbsp; 2000652 |
| &nbsp;&nbsp; 1335000 | Houston, TX, Public Improvement and Refunding Bonds (Series 2024A), (Original Issue Yield: 4.380%), 4.125%, 3/1/2051 | &nbsp;&nbsp; 1235907 |
| &nbsp;&nbsp; 3000000 | Lower Colorado River Authority, TX (LCRA Transmission Services Corp.), Transmission Contract Refunding and Improvement <br> Revenue Bonds (Series 2025A), (Build America Mutual Assurance INS), 5.000%, 5/15/2037<br>| &nbsp;&nbsp; 3468399 |
| &nbsp;&nbsp; 5290000 | Montgomery, TX Independent School District, UT GO School Building Bonds (Series 2022), (Texas Permanent School Fund <br> Guarantee Program GTD), 4.250%, 2/15/2052<br>| &nbsp;&nbsp; 5042944 |
| &nbsp;&nbsp; 1000000 | New Hope Cultural Education Facilities Finance Corporation (Brazos Presbyterian Homes Holding, Inc.), Retirement Facility <br> Revenue Bonds (Series 2025), 5.375%, 1/1/2060<br>| &nbsp;&nbsp; 984478 |
| &nbsp;&nbsp; 1622944<br><sup>4</sup> <br>| New Hope Cultural Education Facilities Finance Corporation (Buckingham Senior Living Community), Retirement Facilities <br> Revenue Exchange Bonds (Series 2021B), 2.000%, 11/15/2061<br>| &nbsp;&nbsp; 697899 |
| &nbsp;&nbsp; 1200000 | New Hope Cultural Education Facilities Finance Corporation (Westminster Manor), Revenue Bonds (Series 2025), <br> 5.000%, 11/1/2055<br>| &nbsp;&nbsp; 1177441 |
| &nbsp;&nbsp; 1500000 | North Texas Municipal Water District Water System, Water System Revenue Refunding and Improvement Bonds (Series 2025), <br> 5.000%, 9/1/2034<br>| &nbsp;&nbsp; 1767787 |
| &nbsp;&nbsp; 1430000 | North Texas Tollway Authority, Second Tier Revenue Refunding Bonds (Series 2018), 4.250%, 1/1/2049 | &nbsp;&nbsp; 1295391 |

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**11**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Texas—continued** |  |
| $4000000 | Northside, TX Independent School District, UT GO School Building Bonds (Series 2020), (Texas Permanent School Fund <br> Guarantee Program GTD), 3.550%, Mandatory Tender 6/1/2028<br>| &nbsp;&nbsp; $4079852 |
| &nbsp;&nbsp; 3000000 | San Antonio, TX Electric & Gas System (CPS Energy), Revenue Refunding Bonds (Series 2026A), 5.000%, 2/1/2040 | &nbsp;&nbsp; 3424827 |
| &nbsp;&nbsp; 1610000 | San Antonio, TX Public Facilities Corp. (San Antonio, TX), Convention Center Facilities Lease Revenue Refunding and <br> Improvement Bonds (Series 2022), 5.000%, 9/15/2033<br>| &nbsp;&nbsp; 1827717 |
| &nbsp;&nbsp; 2950000 | Spring Branch, TX Independent School District, UT GO School Building and Refunding Bonds (Series 2025), (Texas Permanent <br> School Fund Guarantee Program GTD), 5.000%, 2/1/2035<br>| &nbsp;&nbsp; 3479876 |
| &nbsp;&nbsp; 1000000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Texas Health Resources System), Revenue Bonds <br> (Series 2025A), 5.500%, 11/15/2052<br>| &nbsp;&nbsp; 1073660 |
| &nbsp;&nbsp; 4045000 | Texas City Independent School District/TX, UT GO School Building Bonds (Series 2023), (Texas Permanent School Fund <br> Guarantee Program GTD), 4.000%, 8/15/2048<br>| &nbsp;&nbsp; 3787849 |
| &nbsp;&nbsp; 2965000 | Texas Municipal Gas Acquisition & Supply Corp. I, Gas Supply Senior Lien Revenue Bonds (Series 2006A), (Bank of America <br> Corp. GTD), 5.250%, 12/15/2026<br>| &nbsp;&nbsp; 3029875 |
| &nbsp;&nbsp; 2400000 | Texas Municipal Gas Acquisition & Supply Corp. IV, Gas Supply Revenue Bonds (Series 2023B), (BP PLC GTD), 5.500%, <br> Mandatory Tender 1/1/2034<br>| &nbsp;&nbsp; 2701962 |
| &nbsp;&nbsp; 1000000 | Texas Private Activity Bonds Surface Transportation Corporation (LBJ Infrastructure Group LLC), Senior Lien Revenue <br> Refunding Bonds I-635 Managed Lanes Project (Series 2020A), 4.000%, 12/31/2038<br>| &nbsp;&nbsp; 1001203 |
| &nbsp;&nbsp; 1000000 | Texas Private Activity Bonds Surface Transportation Corporation (LBJ Infrastructure Group LLC), Senior Lien Revenue <br> Refunding Bonds I-635 Managed Lanes Project (Series 2020A), 4.000%, 12/31/2039<br>| &nbsp;&nbsp; 998820 |
| &nbsp;&nbsp; 1050000 | Texas Private Activity Bonds Surface Transportation Corporation (LBJ Infrastructure Group LLC), Senior Lien Revenue <br> Refunding Bonds I-635 Managed Lanes Project (Series 2020A), 4.000%, 6/30/2039<br>| &nbsp;&nbsp; 1050384 |
| &nbsp;&nbsp; 1880000 | Texas State Transportation Commission (State Highway 249 System), First Tier Toll Revenue Bonds (Series 2019A), <br> 5.000%, 8/1/2057<br>| &nbsp;&nbsp; 1895354 |
| &nbsp;&nbsp; 2000000 | Texas Transportation Commission State Highway Fund (Texas State), Mobility Fund and Refunding Bonds (Series 2025), <br> 5.000%, 10/1/2043<br>| &nbsp;&nbsp; 2207238 |
| &nbsp;&nbsp; 5000000 | Texas Water Development Board (Texas State Water Implementation Revenue Fund), Revenue Bonds (Series 2017A), <br> 4.000%, 10/15/2036<br>| &nbsp;&nbsp; 5047691 |
| &nbsp;&nbsp; 1500000 | Texas Water Development Board (Texas State Water Implementation Revenue Fund), Revenue Bonds (Series 2022), <br> 5.000%, 10/15/2047<br>| &nbsp;&nbsp; 1562811 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92605700 |
|  | **Utah—0.7%** |  |
| &nbsp;&nbsp; 2955000 | Salt Lake City, UT Department of Airports, Airport Revenue Bonds (Series 2025B), 5.500%, 7/1/2050 | &nbsp;&nbsp; 3198872 |
| &nbsp;&nbsp; 3200000 | Salt Lake City, UT Department of Airports, Airport Revenue Bonds (Series 2025B), 5.500%, 7/1/2055 | &nbsp;&nbsp; 3439388 |
| &nbsp;&nbsp; 3000000 | Salt Lake County, UT, Sales Tax Revenue Bonds (Series 2025), (Original Issue Yield: 4.300%), 4.000%, 2/1/2045 | &nbsp;&nbsp; 3003175 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9641435 |
|  | **Virginia—1.4%** |  |
| &nbsp;&nbsp; 5000000 | Henrico County, VA Water & Sewer System, Water and Sewer System Revenue Bonds (Series 2025D), 4.250%, 5/1/2056 | &nbsp;&nbsp; 4851054 |
| &nbsp;&nbsp; 1600000 | James City County, VA EDA (Williamsburg Landing), Residential Care Facility Revenue Bonds (Series 2024A), <br> 6.875%, 12/1/2058<br>| &nbsp;&nbsp; 1729285 |
| &nbsp;&nbsp; 2250000 | Virginia Beach, VA Development Authority (Westminster-Canterbury on Chesapeake Bay), Residential Care Facility Revenue <br> Bonds (Series 2023A), 7.000%, 9/1/2053<br>| &nbsp;&nbsp; 2471166 |
| &nbsp;&nbsp; 1135000 | Virginia Beach, VA Development Authority (Westminster-Canterbury on Chesapeake Bay), Residential Care Facility Revenue <br> Bonds (Series 2023A), 7.000%, 9/1/2059<br>| &nbsp;&nbsp; 1240956 |
| &nbsp;&nbsp; 7385000 | Virginia College Building Authority, Revenue Bonds (Series 2018A), 5.000%, 9/1/2031 | &nbsp;&nbsp; 7890505 |
| &nbsp;&nbsp; 1085000 | Virginia Small Business Financing Authority (LifeSpire of Virginia), Revenue and Refunding Bonds (Series 2024A), <br> 5.500%, 12/1/2054<br>| &nbsp;&nbsp; 1114496 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19297462 |
|  | **Washington—1.7%** |  |
| &nbsp;&nbsp; 3000000 | King County, WA Sewer System, Sewer Revenue and Refunding Bonds (Series 2024A), 5.000%, 1/1/2037 | &nbsp;&nbsp; 3471049 |
| &nbsp;&nbsp; 1600000 | Public Hospital District No. 4 King County, Washington (Snoqualmie Valley Health), Hospital Revenue and Refunding Bonds <br> (Series 2025A), 6.625%, 12/1/2045<br>| &nbsp;&nbsp; 1616004 |
| &nbsp;&nbsp; 1745000 | Seattle, WA Water System, Water System Improvement and Refunding Revenue Bonds (Series 2022), 5.000%, 9/1/2044 | &nbsp;&nbsp; 1865515 |
| &nbsp;&nbsp; 1500000 | Washington State Health Care Facilities Authority (CommonSpirit Health), Revenue Bonds (Series 2025A), 5.250%, 9/1/2050 | &nbsp;&nbsp; 1569379 |
| &nbsp;&nbsp; 2000000<br><sup>2</sup> <br>| Washington State Housing Finance Commission (Horizon House Project), Nonprofit Housing Revenue and Refunding Bonds, <br> 6.250%, 1/1/2056<br>| &nbsp;&nbsp; 2004985 |

---

**12**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Washington—continued** |  |
| $1500000<br><sup>2</sup> <br>| Washington State Housing Finance Commission (Presbyterian Retirement Communities Northwest), Revenue Bonds <br> (Series 2016), 5.000%, 1/1/2031<br>| &nbsp;&nbsp; $1516480 |
| &nbsp;&nbsp; 2443975 | Washington State Housing Finance Commission, Municipal Certificates (Series 2023-1 Class A), (Original Issue Yield: 5.067%), <br> 3.375%, 4/20/2037<br>| &nbsp;&nbsp; 2335426 |
| &nbsp;&nbsp; 7000000 | Washington State, UT GO Bonds (Series 2018C), 5.000%, 2/1/2036 | &nbsp;&nbsp; 7306991 |
| &nbsp;&nbsp; 1825000 | Washington State, UT GO Motor Vehicle Fuel Tax Bonds (Series 2019B), 5.000%, 6/1/2039 | &nbsp;&nbsp; 1902718 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23588547 |
|  | **Wisconsin—0.2%** |  |
| &nbsp;&nbsp; 3000000<br><sup>2</sup> <br>| Public Finance Authority, WI (LVHN CHP JV, LLC), Revenue Bonds (Series 2022A), 6.625%, 12/1/2032 | &nbsp;&nbsp; 3071724 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL MUNICIPAL BONDS <br>(IDENTIFIED COST $670,677,169)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 679561468 |
| <sup>3</sup> <br>| SHORT-TERM MUNICIPALS—3.4% |  |
|  | **Alabama—0.6%** |  |
| &nbsp;&nbsp; 3350000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-A) Daily VRDNs, 3.450%, 2/2/2026 | &nbsp;&nbsp; 3350000 |
| &nbsp;&nbsp; 5150000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-B) Daily VRDNs, 3.450%, 2/2/2026 | &nbsp;&nbsp; 5150000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8500000 |
|  | **District Of Columbia—0.0%** |  |
| &nbsp;&nbsp; 600000 | District of Columbia Water & Sewer Authority, (Series C-2) Daily VRDNs, (Bank of America N.A. LIQ), 3.250%, 2/2/2026 | &nbsp;&nbsp; 600000 |
|  | **Florida—0.3%** |  |
| &nbsp;&nbsp; 3100000 | Hillsborough County, FL IDA (Baycare Health System, Inc.), (Series 2020D) Daily VRDNs, (TD Bank, N.A. LOC), <br> 3.250%, 2/2/2026<br>| &nbsp;&nbsp; 3100000 |
| &nbsp;&nbsp; 1300000 | Hillsborough County, FL IDA (BayCare Obligated Group), (Series 2020B) Daily VRDNs, (TD Bank, N.A. LOC), <br> 3.200%, 2/2/2026<br>| &nbsp;&nbsp; 1300000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4400000 |
|  | **New York—0.7%** |  |
| &nbsp;&nbsp; 8275000 | New York City, NY Municipal Water Finance Authority, (2014 Series AA-1) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), <br> 3.250%, 2/2/2026<br>| &nbsp;&nbsp; 8275000 |
| &nbsp;&nbsp; 500000 | New York City, NY Transitional Finance Authority, (Fiscal 2019 Subseries B-4) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), <br> 3.250%, 2/2/2026<br>| &nbsp;&nbsp; 500000 |
| &nbsp;&nbsp; 150000 | New York City, NY Transitional Finance Authority, (Series 2025 H-2) Daily VRDNs, (TD Bank, N.A. LIQ), 3.200%, 2/2/2026 | &nbsp;&nbsp; 150000 |
| &nbsp;&nbsp; 600000 | New York State HFA (160 Madison Avenue), (2013 Series A) Daily VRDNs, (Landesbank Hessen-Thuringen LOC), <br> 3.270%, 2/2/2026<br>| &nbsp;&nbsp; 600000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9525000 |
|  | **North Carolina—0.1%** |  |
| &nbsp;&nbsp; 800000 | Charlotte-Mecklenburg Hospital Authority, NC (Atrium Health - The Charlotte Mecklenburg Hospital Authority), <br> (Series 2018G) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 3.200%, 2/2/2026<br>| &nbsp;&nbsp; 800000 |
|  | **Ohio—0.6%** |  |
| &nbsp;&nbsp; 1150000 | Hamilton County, OH (Block 3 Community Urban Redevelopment Corporation), (Series 2004) Weekly VRDNs, (Citizens Bank, <br> N.A. LOC), 2.360%, 2/5/2026<br>| &nbsp;&nbsp; 1150000 |
| &nbsp;&nbsp; 5945000 | Ohio State Higher Educational Facility Commission (Cleveland Clinic), (Series 2013B-2) Daily VRDNs, (TD Bank, N.A. LIQ), <br> 3.200%, 2/2/2026<br>| &nbsp;&nbsp; 5945000 |
| &nbsp;&nbsp; 1600000 | Ohio State Water Development Authority, Water Pollution Control Loan Fund Revenue Bonds (Series 2024C) Daily VRDNs, <br> (TD Bank, N.A. LIQ), 3.200%, 2/2/2026<br>| &nbsp;&nbsp; 1600000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8695000 |
|  | **Pennsylvania—0.5%** |  |
| &nbsp;&nbsp; 2320000 | Delaware County, PA IDA (United Parcel Service, Inc.), (Series 2015) Daily VRDNs, (United Parcel Service, Inc. GTD), <br> 3.200%, 2/2/2026<br>| &nbsp;&nbsp; 2320000 |
| &nbsp;&nbsp; 4300000 | Northampton County, PA General Purpose Authority (St. Luke's Hospital Obligated Group), (Series B) Daily VRDNs, (TD Bank, <br> N.A. LOC), 3.200%, 2/2/2026<br>| &nbsp;&nbsp; 4300000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6620000 |
|  | **Texas—0.6%** |  |
| &nbsp;&nbsp; 5900000 | Harris County, TX Education Facilities Finance Corp. (Methodist Hospital, Harris County, TX), (Series 2025G) Daily VRDNs, <br> (PNC Bank, N.A. LIQ), 3.200%, 2/2/2026<br>| &nbsp;&nbsp; 5900000 |
| &nbsp;&nbsp; 695000 | Harris County, TX HFDC (Methodist Hospital, Harris County, TX), (Subseries 2008A-2) Daily VRDNs, 3.250%, 2/2/2026 | &nbsp;&nbsp; 695000 |

---

**13**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
| <sup>3</sup> <br>| SHORT-TERM MUNICIPALS—continued |  |
|  | **Texas—continued** |  |
| $2450000 | New Hope Cultural Education Facilities Finance Corporation (Children's Health System of Texas), (Series 2025B) Daily VRDNs, <br> (Bank of America N.A. LIQ), 3.250%, 2/2/2026<br>| &nbsp;&nbsp; $2450000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9045000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SHORT-TERM MUNICIPALS <br>(IDENTIFIED COST $48,185,000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48185000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT IN SECURITIES—99.6% <br>(IDENTIFIED COST $1,068,714,719)<br>| &nbsp;&nbsp; 1410580694 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OTHER ASSETS AND LIABILITIES - NET—0.4%<sup>5</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6193978 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NET ASSETS—100% | &nbsp;&nbsp; $1416774672 |

---

At January 31, 2026, the Fund held no securities that are subject to the federal alternative minimum tax (AMT).

---

| | |
|:---|:---|
| 1 | *Non-income-producing security.* |
| 2 | *Denotes a restricted security that either: (a) cannot be offered for public sale without first being registered, or availing of an exemption from registration, under* <br> *the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At January 31, 2026, these restricted securities amounted to $30,524,021,* <br> *which represented 2.2% of net assets.*<br>|

---

Additional information on restricted securities held at January 31, 2026, is as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Acquisition** <br>**Date**<br>| **Cost** | **Value** |
| California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living Revenue Refunding Bonds <br> (Series 2021A), 5.000%, 11/15/2051<br>| &nbsp;&nbsp; 5/27/2021 | &nbsp;&nbsp; $259206 | &nbsp;&nbsp; $223700 |
| California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living Revenue Refunding Bonds <br> (Series 2021A), 5.000%, 11/15/2056<br>| &nbsp;&nbsp; 5/27/2021 | &nbsp;&nbsp; $258366 | &nbsp;&nbsp; $220265 |
| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2015A), 5.000%, 7/1/2045 | &nbsp;&nbsp; 8/27/2015 | &nbsp;&nbsp; $1135000 | &nbsp;&nbsp; $1134914 |
| Kansas City, MO Redevelopment Authority (Kansas City Convention Center Headquarters Hotel CID), Revenue <br> Bonds (Series 2018B), (Original Issue Yield: 5.079%), 5.000%, 2/1/2050<br>| &nbsp;&nbsp; 5/15/2018 | &nbsp;&nbsp; $4030162 | &nbsp;&nbsp; $3911557 |
| Maricopa County, AZ, IDA (Paradise Schools), Revenue Refunding Bonds, 5.000%, 7/1/2036 | &nbsp;&nbsp; 10/06/2016 | &nbsp;&nbsp; $667378 | &nbsp;&nbsp; $666231 |
| Maryland State Economic Development Corp. (Core Natural Resources, Inc.), Port Facilities Refunding Revenue <br> Bonds (Series 2025), 5.000%, Mandatory Tender 3/27/2035<br>| &nbsp;&nbsp; 3/20/2025 | &nbsp;&nbsp; $1500000 | &nbsp;&nbsp; $1604204 |
| National Finance Authority, NH (Attwater Project Texas MUD No. 38), Special Revenue Capital Appreciation Bonds <br> (Series 2024), (Original Issue Yield: 6.250%), 6.250%, 4/1/2032<br>| &nbsp;&nbsp; 11/22/2024 | &nbsp;&nbsp; $1400538 | &nbsp;&nbsp; $1362700 |
| National Finance Authority, NH (Grand Prairie Project, Harris County, TX MUD), Special Revenue Bonds <br> (Series 2024), (Original Issue Yield: 6.000%), 5.875%, 12/15/2032<br>| &nbsp;&nbsp; 12/06/2024 | &nbsp;&nbsp; $1886900 | &nbsp;&nbsp; $1900441 |
| New York Liberty Development Corporation (3 World Trade Center), Revenue Bonds (Series 2014 Class 1), <br> 5.000%, 11/15/2044<br>| &nbsp;&nbsp; 10/29/2014 | &nbsp;&nbsp; $2500000 | &nbsp;&nbsp; $2500047 |
| Pima County, AZ IDA (La Posada at Pusch Ridge), Senior Living Revenue Bonds (Series 2022A), 6.875%, 11/15/2052 | &nbsp;&nbsp; 10/06/2022 | &nbsp;&nbsp; $2000000 | &nbsp;&nbsp; $2137700 |
| Public Finance Authority, WI (LVHN CHP JV, LLC), Revenue Bonds (Series 2022A), 6.625%, 12/1/2032 | &nbsp;&nbsp; 2/02/2023 | &nbsp;&nbsp; $3000000 | &nbsp;&nbsp; $3071724 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Refunding Bonds (Series 2020A), <br> 5.000%, 7/1/2047<br>| &nbsp;&nbsp; 4/01/2024 | &nbsp;&nbsp; $6110088 | &nbsp;&nbsp; $6195866 |
| Savannah-Georgia Convention Center Authority (Savannah-Georgia Convention Center Hotel), Convention Center <br> Hotel Second Tier Revenue Bonds (Series 2025B), (Original Issue Yield: 6.300%), 6.000%, 6/1/2050<br>| &nbsp;&nbsp; 9/11/2025 | &nbsp;&nbsp; $2021862 | &nbsp;&nbsp; $2073207 |
| Washington State Housing Finance Commission (Horizon House Project), Nonprofit Housing Revenue and <br> Refunding Bonds, 6.250%, 1/1/2056<br>| &nbsp;&nbsp; 11/13/2025 | &nbsp;&nbsp; $1957497 | &nbsp;&nbsp; $2004985 |
| Washington State Housing Finance Commission (Presbyterian Retirement Communities Northwest), Revenue Bonds <br> (Series 2016), 5.000%, 1/1/2031<br>| &nbsp;&nbsp; 12/14/2016 | &nbsp;&nbsp; $1501322 | &nbsp;&nbsp; $1516480 |

---

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

---

| | |
|:---|:---|
| 3 | *Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are* <br> *not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do* <br> *not indicate a reference rate and spread in their description above.*<br>|
| 4 | *Security in default.* |
| 5 | *Assets, other than investments in securities, less liabilities.* |

---

Note: The categories of investments are shown as a percentage of net assets at January 31, 2026.

**14**

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**Investment Valuation** 

In calculating its net asset value (NAV), the Fund generally values investments as follows:

■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by Federated Equity Management Company of Pennsylvania (the "Adviser").

■ Equity securities listed on an exchange or traded through a regulated market system are valued at their last reported sale price or official closing price in their principal exchange or market.

■ Derivative contracts listed on exchanges are valued at their reported settlement or closing price, except that options are valued at the mean of closing bid and ask quotations.

■ Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Adviser.

■ Shares of other mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs, or NAV per share practical expedient, as applicable.

■ For securities that are fair valued in accordance with procedures established by and under the general supervision of the Adviser, certain factors may be considered, such as: the last traded or purchase price of the security, information obtained by contacting the issuer or dealers, analysis of the issuer's financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded, public trading in similar securities or derivative contracts of the issuer or comparable issuers, movement of a relevant index, or other factors including but not limited to industry changes and relevant government actions.

If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, if the Fund cannot obtain price evaluations from a pricing service or from more than one dealer for an investment within a reasonable period of time as set forth in the Adviser's valuation policies and procedures for the Fund, or if information furnished by a pricing service, in the opinion of the Adviser's valuation committee ("Valuation Committee"), is deemed not representative of the fair value of such security, the Fund uses the fair value of the investment determined in accordance with the procedures described below. There can be no assurance that the Fund could obtain the fair value assigned to an investment if it sold the investment at approximately the time at which the Fund determines its NAV per share, and the actual value obtained could be materially different.

**Fair Valuation and Significant Events Procedures** 

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, the Fund's Board of Trustees (the "Trustees") has designated the Adviser as the Fund's valuation designee to perform any fair value determinations for securities and other assets held by the Fund. The Adviser is subject to the Trustees' oversight and certain reporting and other requirements intended to provide the Trustees the information needed to oversee the Adviser's fair value determinations.

The Adviser, acting through its Valuation Committee, is responsible for determining the fair value of investments for which market quotations are not readily available. The Valuation Committee is comprised of officers of the Adviser and certain of the Adviser's affiliated companies and determines fair value and oversees the calculation of the NAV. The Valuation Committee is also authorized to use pricing services to provide fair value evaluations of the current value of certain investments for purposes of calculating the NAV. The Valuation Committee employs various methods for reviewing third-party pricing-service evaluations including periodic reviews of third-party pricing services' policies, procedures and valuation methods (including key inputs, methods, models and assumptions), transactional back-testing, comparisons of evaluations of different pricing services, and review of price challenges by the Adviser based on recent market activity. In the event that market quotations and price evaluations are not available for an investment, the Valuation Committee determines the fair value of the investment in accordance with procedures adopted by the Adviser. The Trustees periodically review the fair valuations made by the Valuation Committee. The Trustees have also approved the Adviser's fair valuation and significant events procedures as part of the Fund's compliance program and will review any changes made to the procedures.

Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a "bid" evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between the prices bid and ask for the investment (a "mid" evaluation). The Fund normally uses bid evaluations for any U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for any other types of fixed-income securities and any OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Adviser.

The Adviser has also adopted procedures requiring an investment to be priced at its fair value whenever the Valuation Committee determines that a significant event affecting the value of the investment has occurred between the time as of which the price of the investment would otherwise be determined and the time as of which the NAV is computed. An event is considered significant if there is both an affirmative expectation that the investment's value will change in response to the event and a reasonable basis for quantifying the resulting change in value. Examples of significant events that may occur after the close of the principal market on which a security is traded, or after the time of a price evaluation provided by a pricing service or a dealer, include:

■ With respect to securities traded principally in foreign markets, significant trends in U.S. equity markets or in the trading of foreign securities index futures contracts;

■ Political or other developments affecting the economy or markets in which an issuer conducts its operations or its securities are traded;

■ Announcements concerning matters such as acquisitions, recapitalizations, litigation developments, or a natural disaster affecting the issuer's operations or regulatory changes or market developments affecting the issuer's industry.

The Adviser has adopted procedures whereby the Valuation Committee uses a pricing service to provide factors to update the fair value of equity securities traded principally in foreign markets from the time of the close of their respective foreign stock exchanges to the pricing time of the Fund. For other significant events, the Fund may seek to obtain more current quotations or price evaluations from

**15**

------

alternative pricing sources. If a reliable alternative pricing source is not available, the Valuation Committee will determine the fair value of the investment in accordance with the fair valuation procedures approved by the Adviser. The Trustees periodically review fair valuations made in response to significant events.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below:

Level 1—quoted prices in active markets for identical securities.

Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.

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

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used, as of January 31, 2026, in valuing the Fund's assets carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** |
|  | **Level 1—** <br>**Quoted** <br>**Prices**<br>| **Level 2—** <br>**Other** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3—** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **Debt Securities:** |  |  |  |  |
| Municipal Bonds | &nbsp;&nbsp; $— | &nbsp;&nbsp; $679561468 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $679561468 |
| Short-Term Municipals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 48185000 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48185000 |
| **Equity Securities:** |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp; Domestic | &nbsp;&nbsp; 667825692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 667825692 |
| &nbsp;&nbsp; International | &nbsp;&nbsp;&nbsp;&nbsp; 5781309 | &nbsp;&nbsp;&nbsp;&nbsp; 9227225 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15008534 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SECURITIES | &nbsp;&nbsp; $673607001 | &nbsp;&nbsp; $736973693 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1410580694 |

---

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

---

| | |
|:---|:---|
| The following acronym(s) are used throughout this portfolio: | The following acronym(s) are used throughout this portfolio: |
| EDA | —Economic Development Authority |
| FRNs | —Floating Rate Notes |
| GO | —General Obligation |
| GTD | —Guaranteed |
| HEFA | —Health and Education Facilities Authority |
| HFA | —Housing Finance Authority |
| HFDC | —Health Facility Development Corporation |
| IDA | —Industrial Development Authority |
| IDB | —Industrial Development Bond |
| IDC | —Industrial Development Corporation |
| INS | —Insured |
| LIQ | —Liquidity Agreement |
| LOC | —Letter of Credit |
| LP | —Limited Partnership |
| LT | —Limited Tax |
| PCRB | —Pollution Control Revenue Bond(s) |
| PRF | —Pre-refunded |
| SOFR | —Secured Overnight Financing Rate |
| UT | —Unlimited Tax |
| VRDNs | —Variable Rate Demand Notes |

---

**16**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Federated Hermes Income Securities Trust

- **b. Investment Company Act file number:** 811-04577

- **c. CIK number of Registrant:** 0000789281

- **d. LEI of Registrant:** 254900ZSL64R3SX7WJ45

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

  - **Street Address 1:** Federated Hermes Funds

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 15086-7561

  - **Telephone number:** 8003417400

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

- **a. Name of Series:** Federated Hermes Muni and Stock Advantage Fund

- **b. EDGAR series identifier (if any):** S000009076

- **c. LEI of Series:** HCY4VLSS0D2ZZF37FQ04

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

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

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1419834124.88

**Total Liabilities:** $3059453.01

**Net Assets:** $1416774671.87

**Cash Not Reported:** $151914.45

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -1231.464352200000 | **1-Year:** -22431.854797400000 | **5-Year:** -94134.327788200000 | **10-Year:** -201953.225204200000 | **30-Year:** -70122.595447000000

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

- **3-Month:** -393.743944100000 | **1-Year:** -5478.452667600000 | **5-Year:** -19532.201300600000 | **10-Year:** -42173.862401100000 | **30-Year:** -19257.280666400000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000024657 | 1.13%                | 0.03%                | 1.42%                |
| Class ID C000024659 | 1.14%                | -0.03%               | 1.29%                |
| Class ID C000051328 | 1.20%                | 0.03%                | 1.35%                |
| Class ID C000098257 | 1.22%                | 0.05%                | 1.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3729883.08              | $9856136.24                                |
| Month 2  | $2702657.56              | $-4129796.49                               |
| Month 3  | $17792173.97             | $-1525913.16                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MICHIGAN ST BLDG AUTH REVENUE        | Michigan State Building Authority                                            | CUSIP: 594615HA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1381048.07   | 0.10%             | 2054-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United Rentals Inc                   | United Rentals Inc                                                           | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      4955 | NS      | $3875107.30   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| MONROE CNTY NY INDL DEV CORP R       | Monroe County Industrial Development Corp/NY                                 | CUSIP: 61075TSK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3175000 | PA      | $3103156.42   | 0.22%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU       | New Jersey Turnpike Authority                                                | CUSIP: 646140EU3<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3674133.75   | 0.26%             | 2052-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| American Express Co                  | American Express Co                                                          | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     24937 | NS      | $8782063.29   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN       | Virginia Small Business Financing Authority                                  | CUSIP: 928103AY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1114495.51   | 0.08%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                | Chicago Board of Education                                                   | CUSIP: 167505ZM1<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5046751.50   | 0.36%             | 2050-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL        | Black Belt Energy Gas District                                               | CUSIP: 09182THB6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2119801.91   | 0.15%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHSIDE TX INDEP SCH DIST          | Northside Independent School District                                        | CUSIP: 66702RR79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4079852.00   | 0.29%             | 2050-06-01      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA INDL DEV AUTH       | Delaware County Industrial Development Authority/PA                          | CUSIP: 245903AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2320000 | PA      | $2320000.00   | 0.16%             | 2045-09-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE         | ILLINOIS FINANCE AUTHORITY                                                   | CUSIP: 45203H8V7<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1507760.55   | 0.11%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC       | Health & Educational Facilities Authority of the State of Missouri           | CUSIP: 60635H4B2<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2018583.00   | 0.14%             | 2048-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CENTRL TX REGL MOBILITY AUTH R       | Central Texas Regional Mobility Authority                                    | CUSIP: 155498KQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1344774.30   | 0.09%             | 2050-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA UNIF SCH DIST           | San Diego Unified School District/CA                                         | CUSIP: 797356GL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1091364.52   | 0.08%             | 2052-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP POLL       | Maryland Economic Development Corp                                           | CUSIP: 57421HAB9<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1604204.40   | 0.11%             | 2048-07-01      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO IL WSTWTR TRANSMISSION       | City of Chicago IL Wastewater Transmission Revenue                           | CUSIP: 167727E28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2072718.40   | 0.15%             | 2048-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp                | Northrop Grumman Corp                                                        | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      7632 | NS      | $5283328.32   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co                  | Vulcan Materials Co                                                          | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     18309 | NS      | $5502586.86   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                 | Bank of America Corp                                                         | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    141477 | NS      | $7526576.40   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                       | GE Vernova Inc                                                               | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      7447 | NS      | $5409277.39   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA       | Chicago O'Hare International Airport                                         | CUSIP: 167593M58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2023830.40   | 0.14%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Marvell Technology Inc               | Marvell Technology Inc                                                       | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40348 | NS      | $3184264.16   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST        | New Jersey Transportation Trust Fund Authority                               | CUSIP: 64613CDQ8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001234.90   | 0.07%             | 2044-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CenterPoint Energy Inc               | CenterPoint Energy Inc                                                       | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |    377312 | NS      | $14975513.28  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson PLC             | Willis Towers Watson PLC                                                     | CUSIP: 000000000<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | GB        |     20227 | NS      | $6421465.69   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| FAYETTE CNTY GA DEV AUTH REVEN       | Fayette County Development Authority                                         | CUSIP: 31222PAW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3093346.20   | 0.22%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA SWR REVENUE             | County of King WA Sewer Revenue                                              | CUSIP: 495290FH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3471049.20   | 0.24%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RENO-TAHOE NV ARPT AUTH ARPT R       | Reno-Tahoe Airport Authority                                                 | CUSIP: 759874DF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2255425.92   | 0.16%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Assurant Inc                         | Assurant Inc                                                                 | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |     25870 | NS      | $6160423.10   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                      | Ulta Beauty Inc                                                              | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      6772 | NS      | $4383921.92   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL        | New York City Transitional Finance Authority Future Tax Secured Revenue      | CUSIP: 64972JSE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150000.00    | 0.01%             | 2054-11-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| LOWER AL GAS DIST GAS PROJ REV       | Lower Alabama Gas District/The                                               | CUSIP: 547804AE4<br>LEI: 549300YTI1NTDG2OVU42 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2111454.80   | 0.15%             | 2046-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE         | Michigan Finance Authority                                                   | CUSIP: 59447T3T8<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1367872.25   | 0.10%             | 2038-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF COLORADO CO ENTERPRISE       | University of Colorado                                                       | CUSIP: 91417KY70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3095000 | PA      | $3034404.54   | 0.21%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH             | New York State Thruway Authority                                             | CUSIP: 650009T86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1075194.89   | 0.08%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                    | Johnson & Johnson                                                            | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     18780 | NS      | $4267755.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA ST UNIV REVENUE           | California State University                                                  | CUSIP: 13077DYG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55133.99     | 0.00%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TD SYNNEX Corp                       | SYNNEX Corp                                                                  | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |     10850 | NS      | $1721569.50   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLANTA GA WTR & WSTWTR REVENU       | City of Atlanta GA Water & Wastewater Revenue                                | CUSIP: 047870TE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1121321.90   | 0.08%             | 2041-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX PUB FACS CORP L       | San Antonio Public Facilities Corp                                           | CUSIP: 796334BK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1827716.60   | 0.13%             | 2033-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NIKE Inc                             | NIKE Inc                                                                     | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     65775 | NS      | $4065552.75   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO IL TRANSIT AUTH SALES        | Chicago Transit Authority Sales Tax Receipts Fund                            | CUSIP: 16772PCB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1360907.01   | 0.10%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY AFFORD       | New York State Housing Finance Agency                                        | CUSIP: 64987J6X4<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4008608.00   | 0.28%             | 2069-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UMB Financial Corp                   | UMB Financial Corp                                                           | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     36468 | NS      | $4636541.52   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLANTA GA                           | City of Atlanta GA                                                           | CUSIP: 047772K31<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3310247.40   | 0.23%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST        | New Jersey Transportation Trust Fund Authority                               | CUSIP: 64613CDZ8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1133919.60   | 0.08%             | 2037-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HLTH CARE REV       | County of Hamilton OH                                                        | CUSIP: 40727RDJ4<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3055983.60   | 0.22%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET        | Minneapolis-St Paul Metropolitan Airports Commission                         | CUSIP: 603827H66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1567146.97   | 0.11%             | 2052-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY GA DEV AUTH REVEN       | Fayette County Development Authority                                         | CUSIP: 31222PAX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024617.10   | 0.07%             | 2054-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                   | NextEra Energy Inc                                                           | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    108239 | NS      | $9514208.10   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV       | City & County of Denver CO Airport System Revenue                            | CUSIP: 249182SR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4196164.40   | 0.30%             | 2053-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Lumexa Imaging Holdings Inc          | Lumexa Imaging Holdings Inc                                                  | CUSIP: 550249106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16667 | NS      | $204170.75    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTRL FL EXPRESSWAY AUTH SR L       | Central Florida Expressway Authority                                         | CUSIP: 153476BV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2010000 | PA      | $2011492.83   | 0.14%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A       | Washington Health Care Facilities Authority                                  | CUSIP: 93978HF67<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1569378.75   | 0.11%             | 2050-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE T       | Territory of Guam                                                            | CUSIP: 40065NDG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $545640.10    | 0.04%             | 2040-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX HLTH FACS DEV C       | Harris County Health Facilities Development Corp                             | CUSIP: 41315RGV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $695000.00    | 0.05%             | 2041-12-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                         | Alphabet Inc                                                                 | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    120425 | NS      | $40703650.00  | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY S E AL A COOPERATIVE DI       | Energy Southeast A Cooperative District                                      | CUSIP: 292723AK9<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5453559.00   | 0.38%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING        | Pennsylvania Economic Development Financing Authority                        | CUSIP: 70870JFN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $986469.71    | 0.07%             | 2053-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV       | COLORADO HEALTH FACILITIES AUTHORITY                                         | CUSIP: 19648FAZ7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250130.60    | 0.02%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL        | BLACK BELT ENERGY GAS DISTRICT                                               | CUSIP: 09182TCR6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1590836.55   | 0.11%             | 2049-06-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RSD       | Virginia Beach Development Authority                                         | CUSIP: 92774NBC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1240955.88   | 0.09%             | 2059-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU       | Texas Private Activity Bond Surface Transportation Corp                      | CUSIP: 882667BT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1050383.46   | 0.07%             | 2039-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN        | TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1622944 | PA      | $697898.54    | 0.05%             | 2061-11-15      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co        | Hewlett Packard Enterprise Co                                                | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |    153157 | NS      | $3295938.64   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| HARRIS CNTY TX INDL DEV CORP         | Harris County Industrial Development Corp                                    | CUSIP: 414189AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4870000 | PA      | $5030516.17   | 0.36%             | 2050-11-01      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FL INDL DEV AUTH HLTH       | Lee County Industrial Development Authority/FL                               | CUSIP: 52349EEK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $989982.99    | 0.07%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GEORGIA            | Municipal Electric Authority of Georgia                                      | CUSIP: 626207H23<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   3940000 | PA      | $3884113.86   | 0.27%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Applied Materials Inc                | Applied Materials Inc                                                        | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     22465 | NS      | $7240918.80   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI       | Pennsylvania Turnpike Commission                                             | CUSIP: 709224P52<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2430000 | PA      | $2515150.36   | 0.18%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP        | Lakewood Ranch Stewardship District                                          | CUSIP: 51265KFT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $534720.07    | 0.04%             | 2054-05-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Penn Entertainment Inc               | Penn Entertainment Inc                                                       | CUSIP: 707569109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    246178 | NS      | $3160925.52   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc                  | Delta Air Lines Inc                                                          | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     79375 | NS      | $5230018.75   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| STAMFORD CT HSG AUTH                 | Stamford Housing Authority                                                   | CUSIP: 852640AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $751119.23    | 0.05%             | 2060-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FLA INDL DEV       | Hillsborough County Industrial Development Authority                         | CUSIP: 43233KAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3100000.00   | 0.22%             | 2042-11-15      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE NC ARPT REVENUE            | City of Charlotte NC Airport Revenue                                         | CUSIP: 161036TS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4700607.00   | 0.33%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH IN WSTWTR UTI       | INDIANA FIN AUTH-B 5.25 0                                                    | CUSIP: 45505MNG7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5219868.50   | 0.37%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CEDAR HILL TX INDEP SCH DIST         | Cedar Hill Independent School District                                       | CUSIP: 1504294C9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1858899.60   | 0.13%             | 2050-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH EDU R       | INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX/THE                  | CUSIP: 71885FDJ3<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   2760000 | PA      | $2762024.18   | 0.19%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH       | Kentucky Public Energy Authority                                             | CUSIP: 74440DDT8<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   5565000 | PA      | $5622184.83   | 0.40%             | 2052-08-01      | Variable      | 3.64%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                          | State of Illinois                                                            | CUSIP: 452153AV1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    540000 | PA      | $523881.81    | 0.04%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE             | DISTRICT OF COLUMBIA                                                         | CUSIP: 25483VQX5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1436464.13   | 0.10%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA INCOME TAX SE       | District of Columbia                                                         | CUSIP: 25477GUM5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   5375000 | PA      | $6096176.65   | 0.43%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FULTON CNTY GA RSDL CARE FACS        | FULTON COUNTY RESIDENTIAL CARE FACILITIES FOR THE ELDERLY AUTHORITY          | CUSIP: 360059AM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2504843.50   | 0.18%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                      | Commonwealth of Pennsylvania                                                 | CUSIP: 70914PZ62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5370420.00   | 0.38%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc                       | salesforce.com Inc                                                           | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     19159 | NS      | $4067264.11   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA       | CALIFORNIA SCHOOL FINANCE AUTHORITY                                          | CUSIP: 13059TBZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1134914.19   | 0.08%             | 2045-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AstraZeneca PLC                      | AstraZeneca PLC                                                              | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     19121 | NS      | $3549894.12   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST        | New Jersey Transportation Trust Fund Authority                               | CUSIP: 64613CEW4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1987544.00   | 0.14%             | 2042-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NS Group Inc                         | NS Group Inc                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    117500 | NS      | $1135063.97   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Caris Life Sciences Inc              | Caris Life Sciences Inc                                                      | CUSIP: 142152107<br>LEI: 549300LX5LO78M5VPY43 | Long             | EC               | CORP              | US        |    102238 | NS      | $2367832.08   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc           | Stanley Black & Decker Inc                                                   | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |     18050 | NS      | $1419813.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| COLORADO ST EDUCTNL & CULTURAL       | COLORADO EDUCATIONAL & CULTURAL FACILITIES AUTHORITY                         | CUSIP: 19645RB34<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500934.35   | 0.11%             | 2035-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Blackrock Inc                        | Blackrock Inc                                                                | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      5117 | NS      | $5725615.98   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Energy AG                    | Siemens Energy AG                                                            | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |     16750 | NS      | $2869755.15   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                | Chicago Board of Education                                                   | CUSIP: 167505ZF6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023646.60   | 0.07%             | 2047-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                | CHICAGO BOE-D 5 12/46                                                        | CUSIP: 167505WB8<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    625000 | PA      | $595897.00    | 0.04%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CINCINNATI OH RECPTS         | University of Cincinnati                                                     | CUSIP: 914119X64<br>LEI: 549300E0RD3ICJ858L23 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030191.10   | 0.07%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP       | New York Transportation Development Corp                                     | CUSIP: 650116EV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4475000 | PA      | $4453482.86   | 0.31%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc       | American Electric Power Co Inc                                               | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     58634 | NS      | $7022887.35   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH          | LANCASTER COUNTY HOSPITAL AUTHORITY/PA                                       | CUSIP: 514045M26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1367310.00   | 0.10%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HLTH CARE REV       | County of Hamilton OH                                                        | CUSIP: 40727RCL0<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1549576.80   | 0.11%             | 2053-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA DEV AUTH                  | Atlanta Development Authority/The                                            | CUSIP: 04780NMY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1800691.60   | 0.13%             | 2048-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI       | Pennsylvania Turnpike Commission                                             | CUSIP: 709225GL4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1210993.01   | 0.09%             | 2052-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBURG NC HOSPA       | Charlotte-Mecklenburg Hospital Authority/The                                 | CUSIP: 160853UL9<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800000.00    | 0.06%             | 2048-01-15      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN        | New Hope Cultural Education Facilities Finance Corp                          | CUSIP: 64542UHB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1177441.32   | 0.08%             | 2055-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Medtronic PLC                        | Medtronic PLC                                                                | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     68707 | NS      | $7074072.72   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| HENRICO CNTY VA WTR & SWR REVE       | County of Henrico VA Water & Sewer Revenue                                   | CUSIP: 426170UN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4851053.50   | 0.34%             | 2056-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                       | ELI LILLY & CO                                                               | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     16670 | NS      | $17289290.50  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| MIAMI-DADE CNTY FL AVIATION RE       | County of Miami-Dade FL Aviation Revenue                                     | CUSIP: 59333P8A9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1883155.56   | 0.13%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JBS NV                               | JBS NV                                                                       | CUSIP: 000000000<br>LEI: 254900JSFON4WL81TW77 | Long             | EC               | CORP              | NL        |    263282 | NS      | $4146691.50   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                             | Raytheon Technologies Corp                                                   | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     34529 | NS      | $6937911.97   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SALES        | Idaho Housing & Finance Association                                          | CUSIP: 45130ACR4<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   8170000 | PA      | $8589787.67   | 0.61%             | 2048-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU       | New Jersey Turnpike Authority                                                | CUSIP: 646140DD2<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4093481.60   | 0.29%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE       | New Jersey Economic Development Authority                                    | CUSIP: 64577XED4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4211162.40   | 0.30%             | 2047-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Boston Scientific Corp               | Boston Scientific Corp                                                       | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     28893 | NS      | $2702362.29   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Tekscend Photomask Corp              | Tekscend Photomask Corp                                                      | CUSIP: 000000000<br>LEI: 353800F4MU4MCZEB9S06 | Long             | EC               | CORP              | JP        |      9000 | NS      | $176460.08    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| L3Harris Technologies Inc            | L3Harris Technologies Inc                                                    | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      7779 | NS      | $2667030.15   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                            | Linde PLC                                                                    | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |     17038 | NS      | $7785854.86   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE           | Public Finance Authority                                                     | CUSIP: 74442PYQ2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3071724.30   | 0.22%             | 2032-12-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON        | Metropolitan Government of Nashville & Davidson County TN                    | CUSIP: 592112TH9<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5296238.50   | 0.37%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST        | New Jersey Transportation Trust Fund Authority                               | CUSIP: 64613CHP6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1599544.20   | 0.11%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH       | Kentucky Public Energy Authority                                             | CUSIP: 74440DFC3<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3232097.70   | 0.23%             | 2055-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE       | NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY                                    | CUSIP: 64577BL28<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038267.10   | 0.07%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX                           | City of Houston TX                                                           | CUSIP: 442332EE8<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1235907.09   | 0.09%             | 2051-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WHITING IN ENVRNMNTL FACS REVE       | City of Whiting IN                                                           | CUSIP: 96634RAZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1992964.69   | 0.14%             | 2044-06-01      | Variable      | 4.20%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP ECON       | MARYLAND ECONOMIC DEVELOPMENT CORP                                           | CUSIP: 57420NCC3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    550000 | PA      | $569302.97    | 0.04%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST        | New Jersey Transportation Trust Fund Authority                               | CUSIP: 6461364F5<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1222201.26   | 0.09%             | 2034-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ethos Technologies Inc               | Ethos Technologies Inc                                                       | CUSIP: 29765A101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17000 | NS      | $255850.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK NY                          | City of New York NY                                                          | CUSIP: 64966QL57<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1565236.35   | 0.11%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MI ARPT AUTH REVENU       | Wayne County Airport Authority                                               | CUSIP: 944514S66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2701150.75   | 0.19%             | 2050-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Arista Networks Inc                  | Arista Networks Inc                                                          | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     42399 | NS      | $6009634.26   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE        | Metropolitan Transportation Authority                                        | CUSIP: 59261A6E2<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066616.40   | 0.08%             | 2043-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET NASHVILLE TN ARPT AUTH ARP       | Metropolitan Nashville Airport Authority/The                                 | CUSIP: 592190QD7<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1575001.20   | 0.11%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA PUBLIC HOSP DIST        | King County Public Hospital District No 4                                    | CUSIP: 494796AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1616003.84   | 0.11%             | 2045-12-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN        | NEW HOPE CULTU 5.375 1/60                                                    | CUSIP: 64542UHZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984478.30    | 0.07%             | 2060-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A       | CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY                             | CUSIP: 13033L4N4<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001122.40   | 0.14%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Seagate Technology Holdings PLC      | Seagate Technology Holdings PLC                                              | CUSIP: 000000000<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | US        |      4718 | NS      | $1923481.42   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION&       | Texas Municipal Gas Acquisition & Supply Corp IV                             | CUSIP: 88256PAT7<br>LEI: 549300PTUE847QDBBW22 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2701962.00   | 0.19%             | 2054-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FLA INDL DEV       | Hillsborough County Industrial Development Authority                         | CUSIP: 43233KAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1300000.00   | 0.09%             | 2038-11-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL        | Black Belt Energy Gas District                                               | CUSIP: 09182TGW1<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5396489.00   | 0.38%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WTR DEV BRD REVENUE            | Texas Water Development Board                                                | CUSIP: 88285ABH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1562811.30   | 0.11%             | 2047-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group Inc/The          | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      3169 | NS      | $2964314.29   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                          | Cummins Inc                                                                  | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      6793 | NS      | $3931924.26   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management Inc                 | Waste Management Inc                                                         | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |     32435 | NS      | $7208354.40   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING       | Suffolk Regional Off-Track Betting Co                                        | CUSIP: 86480TAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036913.30   | 0.07%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUSKINGUM CNTY OH HOSP FACS          | COUNTY OF MUSKINGUM OH                                                       | CUSIP: 628077CU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1086111.07   | 0.08%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PicS NV                              | PicS NV                                                                      | CUSIP: 000000000<br>LEI: 2549003HUMNZFNKGCE37 | Long             | EC               | CORP              | US        |      6800 | NS      | $122400.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES       | New York State Dormitory Authority                                           | CUSIP: 64990GXY3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2260000 | PA      | $2043136.05   | 0.14%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                       | Amazon.com Inc                                                               | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     79612 | NS      | $19051151.60  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc               | UnitedHealth Group Inc                                                       | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     18417 | NS      | $5284389.81   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLINOIS ST                          | State of Illinois                                                            | CUSIP: 452153FL8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    705000 | PA      | $740485.47    | 0.05%             | 2047-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CA CITY &CNTY AR       | San Francisco City & County Airport Comm-San Francisco International Airport | CUSIP: 79766DVZ9<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2693589.75   | 0.19%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Parker-Hannifin Corp                 | Parker-Hannifin Corp                                                         | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |     13857 | NS      | $12967934.88  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| OREGON ST HSG & CMNTY SVCS DEP       | State of Oregon Housing & Community Services Department                      | CUSIP: 686087Y84<br>LEI: 549300N3PYWYJ0Z8N757 | Long             | DBT              | MUN               | US        |   3525000 | PA      | $3598674.62   | 0.25%             | 2043-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING       | Suffolk Regional Off-Track Betting Co                                        | CUSIP: 86480TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019641.00   | 0.07%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp                          | NVIDIA Corp                                                                  | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    102000 | NS      | $19495260.00  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                     | Coca-Cola Co/The                                                             | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    143898 | NS      | $10765009.38  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| WASHINGTON ST                        | WASHINGTON ST-B-FUEL                                                         | CUSIP: 93974D5F1<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1902718.54   | 0.13%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE          | Indiana Finance Authority                                                    | CUSIP: 45506ENZ2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012717.60   | 0.14%             | 2050-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                           | City of Chicago IL                                                           | CUSIP: 167486P45<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3426649.85   | 0.24%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R       | State of Connecticut Special Tax Revenue                                     | CUSIP: 207758YG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3197356.50   | 0.23%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP        | Lakewood Ranch Stewardship District                                          | CUSIP: 51265KGG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2565000 | PA      | $2663209.49   | 0.19%             | 2045-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Apple Inc                            | Apple Inc                                                                    | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    116894 | NS      | $30331655.12  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| DIST OF COLUMBIA REVENUE             | DISTRICT OF COLUMBIA                                                         | CUSIP: 25483VSF2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002151.00   | 0.07%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH SENIOR       | TULSA COUNTY INDUSTRIAL AUTHORITY                                            | CUSIP: 899530AY5<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1270386.63   | 0.09%             | 2037-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST UNIV                 | Pennsylvania State University/The                                            | CUSIP: 709235W50<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   4240000 | PA      | $4424498.94   | 0.31%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HLTH CARE REV       | COUNTY OF HAMILTON OH                                                        | CUSIP: 40727RBU1<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $960430.40    | 0.07%             | 2051-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc                 | Freeport-McMoRan Inc                                                         | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     86026 | NS      | $5181345.98   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N       | Tobacco Settlement Financing Corp/NJ                                         | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7005000 | PA      | $6799097.83   | 0.48%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS-FORT WORTH TX INTERNATI       | Dallas Fort Worth International Airport                                      | CUSIP: 23503CEK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1823719.20   | 0.13%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STADIUM & EXPOSITION       | Louisiana Stadium & Exposition District                                      | CUSIP: 546410CY5<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031401.70   | 0.07%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                          | Walmart Inc                                                                  | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    106916 | NS      | $12737972.24  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| DIST OF COLUMBIA REVENUE             | District of Columbia                                                         | CUSIP: 25483VVQ4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1101567.98   | 0.08%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOREST LAKE MN CHARTER SCH LEA       | FOREST LAKE MN 5.375 8/50                                                    | CUSIP: 345856AV0<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $977289.10    | 0.07%             | 2050-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA WTR & SWR AUT       | District of Columbia Water & Sewer Authority                                 | CUSIP: 254845VW7<br>LEI: 549300OT2FIJQJ5PSH71 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.04%             | 2060-10-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN       | California Public Finance Authority                                          | CUSIP: 13057GAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $220264.55    | 0.02%             | 2056-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE       | New Jersey Economic Development Authority                                    | CUSIP: 64577XEH5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1623604.98   | 0.11%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CLG BLDG AUTH EDUC       | Virginia College Building Authority                                          | CUSIP: 92778WGL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7385000 | PA      | $7890505.47   | 0.56%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WSTWTR R       | City of Philadelphia PA Water & Wastewater Revenue                           | CUSIP: 7178933X7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2640048.25   | 0.19%             | 2054-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                          | State of Illinois                                                            | CUSIP: 452153KX6<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    750000 | PA      | $831217.05    | 0.06%             | 2038-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STAMFORD CT HSG AUTH                 | Stamford Housing Authority                                                   | CUSIP: 852640AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045390.10   | 0.07%             | 2032-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STADIUM & EXPOSITION       | Louisiana Stadium & Exposition District                                      | CUSIP: 546410CX7<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2458753.92   | 0.17%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA       | Pennsylvania Higher Educational Facilities Authority                         | CUSIP: 70917TRW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4627301.00   | 0.33%             | 2051-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Infinity Natural Resources Inc       | Infinity Natural Resources Inc                                               | CUSIP: 456941103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16000 | NS      | $254080.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV       | Build NYC Resource Corp                                                      | CUSIP: 12008ETX4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000027.90   | 0.07%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI       | Washington State Housing Finance Commission                                  | CUSIP: 939783Z41<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004985.00   | 0.14%             | 2056-01-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN       | California Public Finance Authority                                          | CUSIP: 13057GAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $223699.85    | 0.02%             | 2051-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Williams Cos Inc/The                 | Williams Cos Inc/The                                                         | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     39739 | NS      | $2672845.14   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL        | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250BK9<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4317548.84   | 0.30%             | 2053-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION        | TEXAS MUNICIPAL GAS ACQUISITION & SUPPLY CORP I                              | CUSIP: 88256CAT6<br>LEI: 6AZ7FRSNC3ZFPM0Z8L86 | Long             | DBT              | MUN               | US        |   2965000 | PA      | $3029875.09   | 0.21%             | 2026-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST        | New Jersey Transportation Trust Fund Authority                               | CUSIP: 64613CAT5<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1126089.60   | 0.08%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAVANNAH GEORGIA CONVENTION CT       | Savannah Georgia Convention Center Authority                                 | CUSIP: 804828AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2073206.94   | 0.15%             | 2050-06-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR       | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2936261.10   | 0.21%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CA REGL ARPT AU       | San Diego County Regional Airport Authority                                  | CUSIP: 79739GMX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3940000 | PA      | $3837991.04   | 0.27%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HBX Group International PLC          | HBX Group International PLC                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ES        |     23005 | NS      | $213436.21    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I       | Indianapolis Local Public Improvement Bond Bank                              | CUSIP: 45528U6Y2<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045867.50   | 0.07%             | 2057-03-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV       | Colorado Health Facilities Authority                                         | CUSIP: 19648FYJ7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2551029.75   | 0.18%             | 2054-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FL RESORT TAX REVE       | City of Miami Beach FL                                                       | CUSIP: 593238CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2715000 | PA      | $2718296.82   | 0.19%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA AL INDL DEV BRD POLL        | Columbia Industrial Development Board                                        | CUSIP: 197210AX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5150000 | PA      | $5150000.00   | 0.36%             | 2037-12-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX UTILITY SYS REVENUE       | CITY OF HOUSTON TX COMBINED UTILITY SYSTEM REVENUE                           | CUSIP: 4424355Y5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000651.80   | 0.14%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR       | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4822642.50   | 0.34%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Southern Co/The                      | Southern Co/The                                                              | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     68057 | NS      | $6078170.67   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| INDIANA ST FIN AUTH HLTH SYS R       | Indiana Finance Authority                                                    | CUSIP: 45470YGE5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4454346.80   | 0.31%             | 2063-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH MIDWSTRN DISA       | Iowa Finance Authority                                                       | CUSIP: 46246SAU9<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   5300000 | PA      | $6154883.11   | 0.43%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUNI GAS AGY COMMODI       | Minnesota Municipal Gas Agency                                               | CUSIP: 60406UAN7<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5013545.50   | 0.35%             | 2052-12-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ CIVIC IMPT CORP ARP       | City of Phoenix Civic Improvement Corp                                       | CUSIP: 71883MPB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2545830.25   | 0.18%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA REVENUES          | University of California                                                     | CUSIP: 91412G2G9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2440000 | PA      | $2513137.05   | 0.18%             | 2036-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPRING BRANCH TX INDEP SCH DIS       | Spring Branch Independent School District                                    | CUSIP: 849476XD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2950000 | PA      | $3479876.05   | 0.25%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                          | State of Illinois                                                            | CUSIP: 452152Q20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   4320000 | PA      | $4493378.88   | 0.32%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL                         | County of Cook IL                                                            | CUSIP: 213185MY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $859454.55    | 0.06%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lululemon Athletica Inc              | Lululemon Athletica Inc                                                      | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | CA        |      8666 | NS      | $1512217.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                         | AutoZone Inc                                                                 | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       979 | NS      | $3626499.91   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                             | AT&T Inc                                                                     | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    366378 | NS      | $9602767.38   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc               | Motorola Solutions Inc                                                       | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     12732 | NS      | $5125139.28   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc         | Citizens Financial Group Inc                                                 | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     70436 | NS      | $4436059.28   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                   | Meta Platforms Inc                                                           | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     12565 | NS      | $9002822.50   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS ST                             | State of Texas                                                               | CUSIP: 882725DE1<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2207237.40   | 0.16%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ST ENERGY ACQUISITIO       | Tennessee Energy Acquisition Corp                                            | CUSIP: 880443JQ0<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4347836.40   | 0.31%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU       | Texas Private Activity Bond Surface Transportation Corp                      | CUSIP: 882667BU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998820.30    | 0.07%             | 2039-12-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| S&P Global Inc                       | S&P Global Inc                                                               | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     12369 | NS      | $6528234.51   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The              | Charles Schwab Corp/The                                                      | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     61609 | NS      | $6402407.28   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| HAMILTON CNTY OH HLTH CARE REV       | County of Hamilton OH                                                        | CUSIP: 40727RDH8<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |    900000 | PA      | $920560.41    | 0.06%             | 2050-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| General Electric Co                  | General Electric Co                                                          | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     16986 | NS      | $5211134.94   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV       | City & County of Denver CO Airport System Revenue                            | CUSIP: 249182RT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1573561.65   | 0.11%             | 2053-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                        | STATE OF WASHINGTON                                                          | CUSIP: 93974D2P2<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7306991.30   | 0.52%             | 2036-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE       | City of Salt Lake City UT Airport Revenue                                    | CUSIP: 795576NV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2955000 | PA      | $3198872.01   | 0.23%             | 2050-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY REVENU       | New York State Housing Finance Agency                                        | CUSIP: 64986UA72<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.04%             | 2046-11-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CNTY UT SALES TAX RE       | County of Salt Lake UT Option Sales & Use Tax Revenue                        | CUSIP: 795685JG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3003174.60   | 0.21%             | 2045-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                           | City of Chicago IL                                                           | CUSIP: 167486Z77<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    905000 | PA      | $905472.77    | 0.06%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER AL GAS DIST GAS PROJ REV       | Lower Alabama Gas District/The                                               | CUSIP: 547804AD6<br>LEI: 549300YTI1NTDG2OVU42 | Long             | DBT              | MUN               | US        |   2010000 | PA      | $2175363.10   | 0.15%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                  | Abbott Laboratories                                                          | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     15694 | NS      | $1715354.20   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL        | New York City Transitional Finance Authority Building Aid Revenue            | CUSIP: 64972HY48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3188091.00   | 0.23%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDUCTNL FACS AUT       | New Jersey Educational Facilities Authority                                  | CUSIP: 646067FW3<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |    750000 | PA      | $781277.70    | 0.06%             | 2053-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VENICE FL                            | City of Venice FL                                                            | CUSIP: 922687AD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $736683.53    | 0.05%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                          | State of Illinois                                                            | CUSIP: 452152Q61<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2880000 | PA      | $2932431.84   | 0.21%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN        | New York City Municipal Water Finance Authority                              | CUSIP: 64972GCM4<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   8275000 | PA      | $8275000.00   | 0.58%             | 2050-06-15      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| FLORIDA LOC GOVT FIN COMMISSIO       | Florida Local Government Finance Commission                                  | CUSIP: 34077UAH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044722.80   | 0.07%             | 2055-11-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES       | New York State Dormitory Authority                                           | CUSIP: 65000BNV6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4967761.50   | 0.35%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE       | City of Salt Lake City UT Airport Revenue                                    | CUSIP: 795576NW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3439388.16   | 0.24%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN HLTH CARE REVEN       | City of St Cloud MN                                                          | CUSIP: 78916VET3<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $882530.10    | 0.06%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST WTR DEV BRD                 | TEXAS WATER DEVELOPMENT BOARD                                                | CUSIP: 882854B27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5047691.00   | 0.36%             | 2036-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EAGLE MOUNTAIN & SAGINAW TX IN       | Eagle Mountain & Saginaw Independent School District                         | CUSIP: 269696TD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $929163.28    | 0.07%             | 2044-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N       | Tobacco Settlement Financing Corp                                            | CUSIP: 888808HL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4745000 | PA      | $4888460.80   | 0.35%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pfizer Inc                           | Pfizer Inc                                                                   | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    128914 | NS      | $3408486.16   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN        | New York City Municipal Water Finance Authority                              | CUSIP: 64972GC28<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2612217.50   | 0.18%             | 2047-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A       | City of Los Angeles Department of Airports                                   | CUSIP: 544445J34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2100463.00   | 0.15%             | 2048-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT RIVER AZ PROJ AGRIC IMPT&       | Salt River Project Agricultural Improvement & Power District                 | CUSIP: 79574CGY3<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |   8170000 | PA      | $9723223.21   | 0.69%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE       | New Jersey Economic Development Authority                                    | CUSIP: 64577XEB8<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1977499.98   | 0.14%             | 2041-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                | Bath & Body Works Inc                                                        | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |    107555 | NS      | $2344699.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                   | Home Depot Inc/The                                                           | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      6198 | NS      | $2321708.82   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL        | TRIBOROUGH BRIDGE & TUNNEL AUTHORITY                                         | CUSIP: 896032AU3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1358265.50   | 0.10%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DU PAGE CNTY IL SPL SVC AREA #       | DU PAGE COUNTY SPECIAL SERVICE AREA NO 31                                    | CUSIP: 26350TAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $320784.06    | 0.02%             | 2036-03-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| EAGLE MOUNTAIN & SAGINAW TX IN       | Eagle Mountain & Saginaw Independent School District                         | CUSIP: 269696TE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061816.00   | 0.07%             | 2045-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R       | Massachusetts Development Finance Agency                                     | CUSIP: 57584Y3V9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2662123.75   | 0.19%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange Inc        | Intercontinental Exchange Inc                                                | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     33384 | NS      | $5801471.52   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| LANCASTER PA MUNI AUTH HLTHCAR       | Lancaster Municipal Authority                                                | CUSIP: 514350AL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020805.50   | 0.07%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CROWLEY TX INDEP SCH DIST            | Crowley Independent School District                                          | CUSIP: 228130MV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1967048.40   | 0.14%             | 2047-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CONROE TX INDEP SCH DIST             | Conroe Independent School District                                           | CUSIP: 2084182J1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1985000 | PA      | $1878719.13   | 0.13%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp                       | Whirlpool Corp                                                               | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |     29582 | NS      | $2366264.18   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE        | Metropolitan Transportation Authority                                        | CUSIP: 59261AG43<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1518495.60   | 0.11%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                   | Commonwealth of Puerto Rico                                                  | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4415855.60   | 0.31%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Eaton Corp PLC                       | Eaton Corp PLC                                                               | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     21893 | NS      | $7693638.06   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CMWLTH FING AUTH PA TOBACCO MA       | COMMONWEALTH FINANCING AUTHORITY                                             | CUSIP: 20282EAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048037.40   | 0.07%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY TX INDEP SCH DIST         | Montgomery Independent School District                                       | CUSIP: 614121XX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5290000 | PA      | $5042943.78   | 0.36%             | 2052-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Costco Wholesale Corp                | Costco Wholesale Corp                                                        | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      2822 | NS      | $2653385.50   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA ST                        | State of California                                                          | CUSIP: 13063DS82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1637674.06   | 0.12%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH WTR POLLC       | Ohio Water Development Authority Water Pollution Control Loan Fund           | CUSIP: 67766WQ21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1600000.00   | 0.11%             | 2054-12-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Wealthfront Corp                     | Wealthfront Corp                                                             | CUSIP: 947002101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70000 | NS      | $607600.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                        | McKesson Corp                                                                | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      9623 | NS      | $7998733.83   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| HARRIS CNTY-HOUSTON TX SPORTS        | Harris County-Houston Sports Authority                                       | CUSIP: 413890GV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1178631.88   | 0.08%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN       | New Hampshire Business Finance Authority                                     | CUSIP: 63608TAL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1900440.42   | 0.13%             | 2032-12-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Gates Industrial Corp PLC            | Gates Industrial Corp PLC                                                    | CUSIP: 000000000<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               | CORP              | US        |      2362 | NS      | $54373.24     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A       | South Carolina Public Service Authority                                      | CUSIP: 8371516L8<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1730551.23   | 0.12%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dover Corp                           | Dover Corp                                                                   | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |     20730 | NS      | $4176887.70   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CSG NV                               | CSG NV                                                                       | CUSIP: 000000000<br>LEI: 31570078IM9ILNPQUB16 | Long             | EC               | CORP              | CZ        |      8700 | NS      | $315100.81    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH        | ORANGE HLTH FACS-A 5.0 0/                                                    | CUSIP: 68450LJL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $796032.98    | 0.06%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP R       | Tobacco Settlement Financing Corp/RI                                         | CUSIP: 888809BG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4441683.15   | 0.31%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A       | Palm Beach County Health Facilities Authority                                | CUSIP: 69651ACY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2103510.00   | 0.15%             | 2050-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE       | New Jersey Economic Development Authority                                    | CUSIP: 64577XEG7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    930000 | PA      | $1003785.64   | 0.07%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                          | State of Illinois                                                            | CUSIP: 4521522J9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4064768.80   | 0.29%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL SALES TAX REVENUE       | County of Cook IL Sales Tax Revenue                                          | CUSIP: 213248FW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5139789.00   | 0.36%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                         | Broadcom Inc                                                                 | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     76352 | NS      | $25295417.60  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R       | Arizona Industrial Development Authority                                     | CUSIP: 04052BTL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1481245.80   | 0.10%             | 2060-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL        | New York City Transitional Finance Authority                                 | CUSIP: 64972JSW9<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3422110.50   | 0.24%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL        | New York City Transitional Finance Authority Future Tax Secured Revenue      | CUSIP: 64971XHT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.04%             | 2042-08-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST ECON DEV AUTH RETM       | DELAWARE ST ECON DEV                                                         | CUSIP: 246371AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004562.40   | 0.14%             | 2048-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corp | International Business Machines Corp                                         | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     33820 | NS      | $10372594.00  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| SAVANNAH GEORGIA CONVENTION CT       | Savannah Georgia Convention Center Authority                                 | CUSIP: 804828AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $788843.20    | 0.06%             | 2061-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL SALES TAX REVENUE       | COUNTY OF COOK IL                                                            | CUSIP: 213248BH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3096959.70   | 0.22%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN       | MSR ENERGY                                                                   | CUSIP: 55374SAA8<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1210475.48   | 0.09%             | 2029-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HOSP REVEN       | Indiana Finance Authority                                                    | CUSIP: 45471AUS9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1620145.05   | 0.11%             | 2039-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc         | Thermo Fisher Scientific Inc                                                 | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     11457 | NS      | $6629134.77   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC       | Health & Educational Facilities Authority of the State of Missouri           | CUSIP: 60635H4C0<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002240.10   | 0.07%             | 2054-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UPPER SAINT CLAIR TWP PA SCH D       | Upper St Clair Township School District                                      | CUSIP: 916507UG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2990000 | PA      | $2979115.50   | 0.21%             | 2043-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CO HIGH PERFORMANCE TRANSPRTN        | Colorado High Performance Transportation Enterprise                          | CUSIP: 19648DAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5880000 | PA      | $5780306.95   | 0.41%             | 2051-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JAMES CITY CNTY VA ECON DEV AU       | James City County Economic Development Authority                             | CUSIP: 47029WEG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1729285.12   | 0.12%             | 2058-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc      | Philip Morris International Inc                                              | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     24114 | NS      | $4327016.16   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE T       | Territory of Guam                                                            | CUSIP: 40065NDF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $787510.30    | 0.06%             | 2039-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                  | JPMorgan Chase & Co                                                          | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     66922 | NS      | $20470770.58  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| DALLAS-FORT WORTH TX INTERNATI       | Dallas Fort Worth International Airport                                      | CUSIP: 23503CFC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1487374.79   | 0.10%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST MUNI PWR AGY              | IN MUNI PWR AGY-A-RE 5.5                                                     | CUSIP: 454898YB7<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |   3735000 | PA      | $3919597.89   | 0.28%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OHIO ST                              | State of Ohio                                                                | CUSIP: 677523LL4<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2388005.80   | 0.17%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTMINSTER MD PROJ REVENUE          | CITY OF WESTMINSTER MD                                                       | CUSIP: 960735AQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $555566.43    | 0.04%             | 2034-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp           | Capital One Financial Corp                                                   | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     17240 | NS      | $3774353.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp                   | Valero Energy Corp                                                           | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     21592 | NS      | $3917436.56   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MIAMI-DADE CNTY FL WTR & SWR R       | County of Miami-Dade FL Water & Sewer System Revenue                         | CUSIP: 59334DQN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2977244.70   | 0.21%             | 2051-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I       | Indianapolis Local Public Improvement Bond Bank                              | CUSIP: 45528U6X4<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2422642.90   | 0.17%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU       | Texas Private Activity Bond Surface Transportation Corp                      | CUSIP: 882667BS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001202.90   | 0.07%             | 2038-12-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RSD       | Virginia Beach Development Authority                                         | CUSIP: 92774NBB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2471166.45   | 0.17%             | 2053-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA WTR & WSTWTR REVENU       | City of Atlanta GA Water & Wastewater Revenue                                | CUSIP: 047870RD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2617273.50   | 0.18%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE       | City of San Antonio TX Electric & Gas Systems Revenue                        | CUSIP: 79625GNQ2<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3424827.30   | 0.24%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA AL INDL DEV BRD POLLC       | Columbia Industrial Development Board                                        | CUSIP: 197210AZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3350000 | PA      | $3350000.00   | 0.24%             | 2037-12-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL        | New York City Transitional Finance Authority                                 | CUSIP: 64972JWB0<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2251114.00   | 0.16%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH STUDENT REVEN       | County of Hamilton OH                                                        | CUSIP: 407311AC3<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1150000.00   | 0.08%             | 2036-08-01      | Variable      | 2.36%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH ACT 38 FA       | MICHIGAN FINANCE AUTHORITY                                                   | CUSIP: 59447NBD7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1411296.45   | 0.10%             | 2054-02-28      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO LAND CLEARANCE        | KANSAS CITY LAND CLEARANCE REDEVELOPMENT AUTHORITY                           | CUSIP: 48504MAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3911557.20   | 0.28%             | 2050-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Microsoft Corp                       | Microsoft Corp                                                               | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     61613 | NS      | $26511457.77  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                           | AbbVie Inc                                                                   | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     29745 | NS      | $6633432.45   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc           | Advanced Micro Devices Inc                                                   | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     22124 | NS      | $5237414.52   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| LAKELAND FL HOSP SYS REVENUE         | City of Lakeland FL                                                          | CUSIP: 511665KJ9<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2814628.00   | 0.20%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F       | Tarrant County Cultural Education Facilities Finance Corp                    | CUSIP: 87638TJR5<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073659.90   | 0.08%             | 2052-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                   | Commonwealth of Puerto Rico                                                  | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2490792 | PA      | $2501202.51   | 0.18%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI       | Washington State Housing Finance Commission                                  | CUSIP: 93978T4M8<br>LEI: 549300YL1HU59NREG764 | Long             | ABS-MBS          | MUN               | US        |   2443975 | PA      | $2335425.87   | 0.16%             | 2037-04-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV       | Colorado Health Facilities Authority                                         | CUSIP: 19648FKA1<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1250083.11   | 0.09%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST HOSP EQUIPMENT L       | NEW MEXICO HOSPITAL EQUIPMENT LOAN COUNCIL                                   | CUSIP: 647370HX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2188135.70   | 0.15%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE NC ARPT REVENUE            | CITY OF CHARLOTTE NC AIRPORT REVENUE                                         | CUSIP: 161036MH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1273339.00   | 0.09%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH PERSO       | New York State Thruway Authority                                             | CUSIP: 650028ZD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5405000 | PA      | $4976879.14   | 0.35%             | 2051-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc           | Verizon Communications Inc                                                   | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    108157 | NS      | $4815149.64   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| DIST OF COLUMBIA REVENUE             | DISTRICT OF COLUMBIA                                                         | CUSIP: 25483VSE5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504850.15    | 0.04%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N TEXAS ST MUNI WTR DIST WTR S       | North Texas Municipal Water District Water System Revenue                    | CUSIP: 662903H71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1767787.35   | 0.12%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips                       | ConocoPhillips                                                               | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     55951 | NS      | $5831772.73   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                        | Citigroup Inc                                                                | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     63944 | NS      | $7398960.24   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV       | Build NYC Resource Corp                                                      | CUSIP: 12008ETY2<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   2860000 | PA      | $2838374.40   | 0.20%             | 2057-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU DEDICATE       | Chicago Board of Education Dedicated Capital Improvement Tax                 | CUSIP: 167510BH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015973.50   | 0.07%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST                            | State of Oregon                                                              | CUSIP: 68609UPC3<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1169712.50   | 0.08%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA BRD OF RGTS                  | Arizona Board of Regents                                                     | CUSIP: 040664LG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1443459.86   | 0.10%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL        | PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT                            | CUSIP: 717824AL0<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    330000 | PA      | $330542.26    | 0.02%             | 2035-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HLTH FACS AUTH       | Brevard County Health Facilities Authority                                   | CUSIP: 107416QL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3171801.90   | 0.22%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP ECON       | MARYLAND ECONOMIC DEVELOPMENT CORP                                           | CUSIP: 57420NBY6<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    270000 | PA      | $281767.11    | 0.02%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP        | Sales Tax Securitization Corp                                                | CUSIP: 79467BJB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1685178.45   | 0.12%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PPL Corp                             | PPL Corp                                                                     | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |    146477 | NS      | $5309791.25   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| York Space Systems Inc               | York Space Systems Inc                                                       | CUSIP: 987084100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3400 | NS      | $115430.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MASSACHUSETTS ST                     | Commonwealth of Massachusetts                                                | CUSIP: 57582RY42<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5238793.50   | 0.37%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LAKELAND FL HOSP SYS REVENUE         | City of Lakeland FL                                                          | CUSIP: 511665KL4<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1105484.40   | 0.08%             | 2040-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Visa Inc                             | Visa Inc                                                                     | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     25321 | NS      | $8149057.43   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLEGHENY CNTY PA SAN AUTH           | Allegheny County Sanitary Authority                                          | CUSIP: 017357N67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4335798.80   | 0.31%             | 2047-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST        | New Jersey Transportation Trust Fund Authority                               | CUSIP: 64613CCK2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2332556.80   | 0.16%             | 2048-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cardinal Infrastructure Group Inc    | Cardinal Infrastructure Group Inc                                            | CUSIP: 14154A102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10500 | NS      | $264495.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MASSACHUSETTS ST BAY TRANSPRTN       | Massachusetts Bay Transportation Authority Sales Tax Revenue                 | CUSIP: 575579Q91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1660000 | PA      | $1518757.57   | 0.11%             | 2053-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM       | North Carolina Medical Care Commission                                       | CUSIP: 65820YTN6<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031271.10   | 0.07%             | 2044-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Progressive Corp/The                 | Progressive Corp/The                                                         | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     19083 | NS      | $3969264.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Exzeo Group Inc                      | TypTap Insurance Group Inc                                                   | CUSIP: 30234F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37000 | NS      | $751840.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DIST OF COLUMBIA                     | District of Columbia                                                         | CUSIP: 25476FXV5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   6090000 | PA      | $6284524.34   | 0.44%             | 2044-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                     | Wells Fargo & Co                                                             | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     83228 | NS      | $7531301.72   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| GEORGIA ST                           | State of Georgia                                                             | CUSIP: 373385KR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4083685.20   | 0.29%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE            | North Texas Tollway Authority                                                | CUSIP: 66285WYA8<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1295391.38   | 0.09%             | 2049-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PIMA CNTY AZ INDL DEV AUTH SEN       | Industrial Development Authority of the County of Pima/The                   | CUSIP: 72178AAH5<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2137700.00   | 0.15%             | 2052-11-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R       | State of Connecticut Special Tax Revenue                                     | CUSIP: 207758L50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1660816.80   | 0.12%             | 2042-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ANNE ARUNDEL CNTY MD                 | County of Anne Arundel MD                                                    | CUSIP: 03588HUL8<br>LEI: 549300L8Q6EFVTZGWW41 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6243714.00   | 0.44%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF GTR CINCINNATI DEV AUT       | Port of Greater Cincinnati Development Authority                             | CUSIP: 734195EE6<br>LEI: 549300IK2RCZBY62ST97 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1428091.20   | 0.10%             | 2058-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AVON LAKE OH CITY SCH DIST           | Avon Lake City School District                                               | CUSIP: 054105MZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3405000 | PA      | $3344043.01   | 0.24%             | 2059-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX CULTURAL EDU FA       | HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP                     | CUSIP: 414009LE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1931999.00   | 0.14%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                     | Commonwealth of Massachusetts                                                | CUSIP: 57582R2B1<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1401448.17   | 0.10%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HGR EDUCTNL FAC COMMIS       | Ohio Higher Educational Facility Commission                                  | CUSIP: 67756DBD7<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   5945000 | PA      | $5945000.00   | 0.42%             | 2039-01-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| DALLAS-FORT WORTH TX INTERNATI       | Dallas Fort Worth International Airport                                      | CUSIP: 23503CBM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7355000 | PA      | $7031639.63   | 0.50%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Merck & Co Inc                       | Merck & Co Inc                                                               | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     38299 | NS      | $4223230.73   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R       | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY                                     | CUSIP: 57584XJF9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5027803.00   | 0.35%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH       | MARICOPA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                             | CUSIP: 56681NAW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $666231.25    | 0.05%             | 2036-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Innoscripta SE                       | Innoscripta SE                                                               | CUSIP: 000000000<br>LEI: 894500BA6B025ZEF0T83 | Long             | EC               | CORP              | DE        |      9100 | NS      | $967515.51    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| TEXAS ST TRANSPRTN COMMISSION        | Texas Transportation Commission                                              | CUSIP: 88283NAZ5<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   1880000 | PA      | $1895353.96   | 0.13%             | 2057-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKPORT IN POLL CONTROL REVEN       | City of Rockport IN                                                          | CUSIP: 773835BY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2547999.25   | 0.18%             | 2047-06-01      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| Chevron Corp                         | Chevron Corp                                                                 | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32541 | NS      | $5756502.90   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST        | NJ TRANSPRTN-A-REF 5 6/31                                                    | CUSIP: 6461363Q2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008533.90   | 0.07%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURPOS       | Northampton County General Purpose Authority                                 | CUSIP: 66353RDJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4300000 | PA      | $4300000.00   | 0.30%             | 2054-08-15      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR       | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5018000 | PA      | $1738644.17   | 0.12%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GA                 | Municipal Electric Authority of Georgia                                      | CUSIP: 62620HHQ8<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   3515000 | PA      | $3623243.37   | 0.26%             | 2064-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Micron Technology Inc                | Micron Technology Inc                                                        | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     17354 | NS      | $7199827.52   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| DESOTO TX INDEP SCH DIST             | DeSoto Independent School District                                           | CUSIP: 241722HC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8215000 | PA      | $8837493.27   | 0.62%             | 2045-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP        | New York City Housing Development Corp                                       | CUSIP: 64972KEL5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2228789.18   | 0.16%             | 2059-11-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| GEORGIA ST                           | State of Georgia                                                             | CUSIP: 373385MQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2743818.46   | 0.19%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV       | Colorado Health Facilities Authority                                         | CUSIP: 19648FWT7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1263689.88   | 0.09%             | 2047-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN       | New Hampshire Business Finance Authority                                     | CUSIP: 63608TAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2035000 | PA      | $1362700.10   | 0.10%             | 2032-04-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL AVIATION        | Hillsborough County Aviation Authority                                       | CUSIP: 432308K60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2158879.51   | 0.15%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L       | NEW YORK LIBERTY DEVELOPMENT CORP                                            | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500047.00   | 0.18%             | 2044-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH         | Cumberland County Municipal Authority                                        | CUSIP: 230614TH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $455329.92    | 0.03%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST MUNI PWR AGY              | INDIANA MUNICIPAL POWER AGENCY                                               | CUSIP: 454898VR5<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1286222.13   | 0.09%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL        | New York City Transitional Finance Authority Future Tax Secured Revenue      | CUSIP: 64971X7H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1831389.60   | 0.13%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS       | New Hampshire Business Finance Authority                                     | CUSIP: 63607WAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |   1467377 | PA      | $1488072.29   | 0.11%             | 2041-07-20      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA MUNI AUTH HLTHCAR       | Lancaster Municipal Authority                                                | CUSIP: 514350AM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $602468.92    | 0.04%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Danaher Corp                         | Danaher Corp                                                                 | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     22652 | NS      | $4958296.28   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| HARRIS CNTY-HOUSTON TX SPORTS        | Harris County-Houston Sports Authority                                       | CUSIP: 413890GW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1403888.81   | 0.10%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEATTLE WA WTR SYS REVENUE           | City of Seattle WA Water System Revenue                                      | CUSIP: 812728XT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1865514.76   | 0.13%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET NASHVILLE TN ARPT AUTH ARP       | Metropolitan Nashville Airport Authority/The                                 | CUSIP: 592190NM0<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   2705000 | PA      | $2512457.02   | 0.18%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES MI WTR AUTH WTR SP       | Great Lakes Water Authority Water Supply System Revenue                      | CUSIP: 39081JEV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2980000 | PA      | $3117606.86   | 0.22%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN       | New Hope Cultural Education Facilities Finance Corp                          | CUSIP: 645424BR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2450000.00   | 0.17%             | 2055-08-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Saia Inc                             | Saia Inc                                                                     | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      7587 | NS      | $2540658.69   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The              | Procter & Gamble Co/The                                                      | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     40482 | NS      | $6143953.14   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTH CAROLINA ST MUNI PWR AGY       | NORTH CAROLINA MUNICIPAL POWER AGENCY NO 1                                   | CUSIP: 658203X41<br>LEI: 549300N3Q65G1ODRFX75 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1510897.50   | 0.11%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS CITY TX INDEP SCH DIST         | Texas City Independent School District/TX                                    | CUSIP: 882270XV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4045000 | PA      | $3787848.83   | 0.27%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KKR & Co Inc                         | KKR & Co Inc                                                                 | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |     49226 | NS      | $5624562.76   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI       | WASHINGTON STATE HOUSING FINANCE COMMISSION                                  | CUSIP: 939783TG1<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1516480.20   | 0.11%             | 2031-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| SAINT LOUIS MO ARPT REVENUE          | CITY OF ST LOUIS MO AIRPORT REVENUE                                          | CUSIP: 791638F87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1270574.00   | 0.09%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH AQUEDUCT &        | Puerto Rico Commonwealth Aqueduct & Sewer Authority                          | CUSIP: 745160SJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6250000 | PA      | $6195865.63   | 0.44%             | 2047-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| LOWER COLORADO RIVER TX AUTH T       | Lower Colorado River Authority                                               | CUSIP: 54811BT50<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3468399.30   | 0.24%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                     | Exxon Mobil Corp                                                             | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     94854 | NS      | $13412355.60  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                             | KLA Corp                                                                     | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      1305 | NS      | $1863461.70   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| HARRIS CNTY TX CULTURAL EDU FA       | Harris County Cultural Education Facilities Finance Corp                     | CUSIP: 414009TQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5900000 | PA      | $5900000.00   | 0.42%             | 2060-12-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-23

**Name of Applicant:** Federated Hermes Income Securities Trust

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes Income Securities Trust

**Title:** Chief Compliance Officer