# EDGAR Filing Document

**Accession Number:** 0001112996
**File Stem:** 0001752724-25-183714
**Filing Date:** 2025-7
**Character Count:** 442614
**Document Hash:** fc48fe55794b386c375a08f8abd73091
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-183714.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001752724-25-183714

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
- **CENTRAL INDEX KEY:** 0001112996

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09913
- **FILM NUMBER:** 251166463

**BUSINESS ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046
- **BUSINESS PHONE:** 713-626-1919

**MAIL ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM COUNSELOR SERIES TRUST
- **DATE OF NAME CHANGE:** 20040322

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM COUNSELOR SERIES FUNDS
- **DATE OF NAME CHANGE:** 20031126

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM COUNSELOR SERIES FUNDS INC
- **DATE OF NAME CHANGE:** 20031001

## Series and Classes Contracts Data

### Invesco Short Term Municipal Fund (Series ID: S000064614)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000209154 | Class Y      |  |
| C000209155 | Class R6     |  |
| C000209156 | Class A      |  |

## Nport-Ex

**Schedule of Investments** 

*May 31, 2025*

*(Unaudited)* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Municipal Obligations–97.58%** | **Municipal Obligations–97.58%** | **Municipal Obligations–97.58%** | **Municipal Obligations–97.58%** | **Municipal Obligations–97.58%** |
| **Alabama–2.97%** | **Alabama–2.97%** | **Alabama–2.97%** | **Alabama–2.97%** | **Alabama–2.97%** |
| Auburn University; Series 2015 A, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 06/01/2025 | $1000 | &nbsp;&nbsp; $1000000 |
| &nbsp;&nbsp;&nbsp; Baldwin (County of), AL Public Building Authority (DHR); Series 2007 A, Revenue Wts. (INS - <br> SGI)<sup>(c)</sup> <br>| 4.38% | 06/01/2028 | 10 | &nbsp;&nbsp; 10006 |
| Black Belt Energy Gas District (The); Series 2024 A, RB<sup>(b)</sup> <br>| 5.25% | 09/01/2032 | 1585 | &nbsp;&nbsp; 1671399 |
| Black Belt Energy Gas District (The) (No. 4); Series 2019 A-1, RB<sup>(b)</sup> <br>| 4.00% | 12/01/2025 | 20675 | &nbsp;&nbsp; 20678461 |
| Black Belt Energy Gas District (The) (No. 5); Series 2020 A-1, RB<sup>(b)</sup> <br>| 4.00% | 10/01/2026 | 5000 | &nbsp;&nbsp; 5008444 |
| Black Belt Energy Gas District (The) (No. 7); Series 2021, RB<sup>(b)</sup> <br>| 4.00% | 12/01/2026 | 8820 | &nbsp;&nbsp; 8812546 |
| &nbsp;&nbsp;&nbsp; Mobile (City of), AL Industrial Development Board (Alabama Power Co. Barry Plant); <br> Series 2008, RB<sup>(b)</sup> <br>| 3.30% | 03/12/2026 | 3500 | &nbsp;&nbsp; 3499830 |
| Tender Option Bond Trust Receipts/Certificates; Series 2022, VRD RB<sup>(d)(e)</sup> <br>| 1.75% | 06/04/2025 | 5000 | &nbsp;&nbsp; 5000000 |
|  |  |  |  | &nbsp;&nbsp; 45680686 |
| **Alaska–0.09%** | **Alaska–0.09%** | **Alaska–0.09%** | **Alaska–0.09%** | **Alaska–0.09%** |
| Alaska (State of) International Airports System; Series 2025 A, Ref. RB | 5.00% | 10/01/2026 | 510 | &nbsp;&nbsp; 523650 |
| Northern Tobacco Securitization Corp.; Series 2021 B-1, Ref. RB | 4.00% | 06/01/2050 | 965 | &nbsp;&nbsp; 904906 |
|  |  |  |  | &nbsp;&nbsp; 1428556 |
| **Arizona–3.38%** | **Arizona–3.38%** | **Arizona–3.38%** | **Arizona–3.38%** | **Arizona–3.38%** |
| &nbsp;&nbsp;&nbsp; Arizona (State of) Game & Fish Department & Commission (AGF Administration Building); <br> Series 2006, RB<br>| 5.00% | 07/01/2032 | 105 | &nbsp;&nbsp; 105111 |
| Arizona (State of) Industrial Development Authority; Series 2024, RB<sup>(b)</sup> <br>| 5.00% | 09/01/2026 | 1000 | &nbsp;&nbsp; 1020830 |
| Arizona (State of) Industrial Development Authority (Social Bonds); Series 2023, RB | 5.00% | 11/01/2028 | 1500 | &nbsp;&nbsp; 1563617 |
| &nbsp;&nbsp;&nbsp; Arizona (State of) Industrial Development Authority (Unity at West Glendale); Series 2024, <br> RB<sup>(b)</sup> <br>| 5.00% | 09/01/2026 | 1100 | &nbsp;&nbsp; 1116094 |
| Chandler (City of), AZ Industrial Development Authority (Intel Corp.); Series 2022-1, RB<sup>(b)(f)</sup> <br>| 5.00% | 09/01/2027 | 10000 | &nbsp;&nbsp; 10188805 |
| Maricopa (County of), AZ Industrial Development Authority (Banner Health Obligated Group); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB | 5.00% | 01/01/2034 | 4935 | &nbsp;&nbsp; 5034516 |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB | 5.00% | 01/01/2035 | 2205 | &nbsp;&nbsp; 2246120 |
| Maricopa County Unified School District No. 69 Paradise Valley; Series 2025 A, GO Bonds | 5.00% | 07/01/2026 | 1000 | &nbsp;&nbsp; 1023440 |
| &nbsp;&nbsp;&nbsp; Maricopa County Union High School District No. 210-Phoenix (2023); Series 2025 B, GO <br> Bonds<br>| 5.00% | 07/01/2027 | 1000 | &nbsp;&nbsp; 1045155 |
| Phoenix Civic Improvement Corp.; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2014 B, Ref. RB | 5.00% | 07/01/2027 | 2565 | &nbsp;&nbsp; 2568127 |
| &nbsp;&nbsp;&nbsp; Series 2015 A, RB<sup>(a)(b)</sup> <br>| 5.00% | 07/15/2025 | 1250 | &nbsp;&nbsp; 1252692 |
| &nbsp;&nbsp;&nbsp; Series 2015 B, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 07/15/2025 | 1840 | &nbsp;&nbsp; 1843963 |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB | 5.00% | 07/01/2033 | 1500 | &nbsp;&nbsp; 1521022 |
| &nbsp;&nbsp;&nbsp; Series 2017, Ref. RB | 5.00% | 07/01/2038 | 5145 | &nbsp;&nbsp; 5200211 |
| &nbsp;&nbsp;&nbsp; Pima (County of), AZ Industrial Development Authority (Excalibur Charter School (The)); <br> Series 2016, Ref. RB<sup>(d)</sup> <br>| 5.00% | 09/01/2026 | 50 | &nbsp;&nbsp; 50022 |
| &nbsp;&nbsp;&nbsp; Pima (County of), AZ Industrial Development Authority (Leading Edge Academy Maricopa); <br> Series 2015, RB<sup>(a)(b)(d)</sup> <br>| 6.25% | 12/01/2025 | 4820 | &nbsp;&nbsp; 4885641 |
| &nbsp;&nbsp;&nbsp; Pima (County of), AZ Industrial Development Authority (Paideia Academies (The)); <br> Series 2019, RB<br>| 4.13% | 07/01/2029 | 155 | &nbsp;&nbsp; 149649 |
| Pinal County Electric District No. 3; Series 2016, Ref. RB | 5.00% | 07/01/2035 | 1100 | &nbsp;&nbsp; 1113919 |
| Salt River Project Agricultural Improvement & Power District; Series 2015 A, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 06/01/2025 | 5060 | &nbsp;&nbsp; 5060000 |
| Sun Devil Energy Center LLC (Arizona State University); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2008, Ref. RB | 5.00% | 07/01/2027 | 100 | &nbsp;&nbsp; 100126 |
| &nbsp;&nbsp;&nbsp; Series 2008, Ref. RB | 5.00% | 07/01/2030 | 155 | &nbsp;&nbsp; 155179 |
| University of Arizona Board of Regents; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 D, RB | 5.00% | 07/01/2030 | 1450 | &nbsp;&nbsp; 1451165 |
| &nbsp;&nbsp;&nbsp; Series 2016 C, RB | 5.00% | 07/01/2030 | 1060 | &nbsp;&nbsp; 1073843 |
| &nbsp;&nbsp;&nbsp; Series 2022 B, RB | 5.00% | 07/01/2038 | 1300 | &nbsp;&nbsp; 1377675 |
| Westpark Community Facility District; Series 2016, Ref. GO Bonds | 4.00% | 07/15/2025 | 340 | &nbsp;&nbsp; 339803 |
| &nbsp;&nbsp;&nbsp; Yuma (City of), AZ Industrial Development Authority (Yuma Regional Medical Center); <br> Series 2024, Ref. RB<br>| 5.00% | 08/01/2035 | 500 | &nbsp;&nbsp; 544222 |
|  |  |  |  | &nbsp;&nbsp; 52030947 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Arkansas–0.07%** | **Arkansas–0.07%** | **Arkansas–0.07%** | **Arkansas–0.07%** | **Arkansas–0.07%** |
| Fort Smith (City of), AR; Series 2015, Ref. RB | 5.00% | 10/01/2030 | $1130 | &nbsp;&nbsp; $1134616 |
| **California–2.49%** | **California–2.49%** | **California–2.49%** | **California–2.49%** | **California–2.49%** |
| California (State of); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2012, Ref. GO Bonds | 5.00% | 09/01/2025 | 10 | &nbsp;&nbsp; 10015 |
| &nbsp;&nbsp;&nbsp; Series 2013, Ref. GO Bonds | 5.00% | 10/01/2026 | 5 | &nbsp;&nbsp; 5008 |
| &nbsp;&nbsp;&nbsp; Series 2014, Ref. GO Bonds | 5.00% | 10/01/2034 | 145 | &nbsp;&nbsp; 145184 |
| &nbsp;&nbsp;&nbsp; California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds); <br> Series 2023, RB<sup>(b)</sup> <br>| 5.25% | 04/01/2030 | 2945 | &nbsp;&nbsp; 3090563 |
| California (State of) Health Facilities Financing Authority; Series 2024 A, RB | 3.85% | 11/15/2027 | 1850 | &nbsp;&nbsp; 1853885 |
| California (State of) Health Facilities Financing Authority (Sutter Health); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017 A, Ref. RB | 5.00% | 11/15/2032 | 1285 | &nbsp;&nbsp; 1337262 |
| &nbsp;&nbsp;&nbsp; Series 2018 A, RB | 5.00% | 11/15/2032 | 1630 | &nbsp;&nbsp; 1696294 |
| California (State of) Housing Finance Agency (Social Certificates); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-2A, Revenue Ctfs. (CEP - FHLMC) | 3.75% | 03/25/2035 | 3799 | &nbsp;&nbsp; 3751348 |
| &nbsp;&nbsp;&nbsp; Series 2023-1, RB | 4.38% | 09/20/2036 | 2457 | &nbsp;&nbsp; 2436146 |
| &nbsp;&nbsp;&nbsp; California (State of) Infrastructure & Economic Development Bank (Brightline West Passenger <br> Rail) (Green Bonds); Series 2025 B, Ref. RB<sup>(b)(d)(f)</sup> <br>| 9.50% | 01/01/2035 | 2000 | &nbsp;&nbsp; 1938543 |
| &nbsp;&nbsp;&nbsp; California (State of) Municipal Finance Authority (Waste Management, Inc.); Series 2022 A, <br> RB<sup>(b)(f)</sup> <br>| 4.13% | 10/01/2025 | 5000 | &nbsp;&nbsp; 4999942 |
| &nbsp;&nbsp;&nbsp; California (State of) Public Works Board (California Community Colleges); Series 2005 E, RB <br> (INS - NATL)<sup>(c)</sup> <br>| 4.50% | 10/01/2026 | 170 | &nbsp;&nbsp; 170220 |
| East Side Union High School District; Series 2025 D, GO Bonds | 5.00% | 08/01/2027 | 4000 | &nbsp;&nbsp; 4198631 |
| &nbsp;&nbsp;&nbsp; Howell Mountain Elementary School District (Election of 2005); Series 2007, GO Bonds (INS - <br> AGI)<sup>(c)(g)</sup> <br>| 0.00% | 08/01/2027 | 520 | &nbsp;&nbsp; 478854 |
| Imperial Irrigation District; Series 2012 A, Ref. RB | 5.00% | 11/01/2027 | 225 | &nbsp;&nbsp; 225339 |
| Long Beach Unified School District; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2012, Ref. GO Bonds | 5.00% | 08/01/2025 | 675 | &nbsp;&nbsp; 676035 |
| &nbsp;&nbsp;&nbsp; Series 2012, Ref. GO Bonds | 5.00% | 08/01/2028 | 775 | &nbsp;&nbsp; 777861 |
| &nbsp;&nbsp;&nbsp; Series 2012, Ref. GO Bonds | 5.00% | 08/01/2029 | 100 | &nbsp;&nbsp; 100360 |
| Northern California Energy Authority; Series 2024, Ref. RB<sup>(b)</sup> <br>| 5.00% | 08/01/2030 | 3600 | &nbsp;&nbsp; 3762484 |
| Northern California Tobacco Securitization Authority; Series 2021 B-1, Ref. RB | 4.00% | 06/01/2049 | 590 | &nbsp;&nbsp; 547796 |
| Pasadena (City of), CA; Series 2015 A, Ref. COP | 5.00% | 02/01/2031 | 1000 | &nbsp;&nbsp; 1000970 |
| Peninsula Corridor Joint Powers Board; Series 2019 A, Ref. RB | 5.00% | 10/01/2044 | 1285 | &nbsp;&nbsp; 1293044 |
| San Jose (City of), CA; Series 2017 B, Ref. RB | 5.00% | 03/01/2042 | 3730 | &nbsp;&nbsp; 3757470 |
|  |  |  |  | &nbsp;&nbsp; 38253254 |
| **Colorado–1.73%** | **Colorado–1.73%** | **Colorado–1.73%** | **Colorado–1.73%** | **Colorado–1.73%** |
| Adams & Arapahoe Joint School District No. 28J Aurora; Series 2017 A, Ref. GO Bonds | 5.00% | 12/01/2032 | 2700 | &nbsp;&nbsp; 2760632 |
| Aurora (City of), CO; Series 2024, RB | 5.00% | 08/01/2025 | 1500 | &nbsp;&nbsp; 1504741 |
| Colorado (State of) Department of Transportation; Series 2016, COP | 5.00% | 06/15/2035 | 1330 | &nbsp;&nbsp; 1346655 |
| Colorado (State of) Health Facilities Authority (Aberdeen Ridge); Series 2021 B, RB | 2.13% | 05/15/2028 | 1000 | &nbsp;&nbsp; 969750 |
| Colorado (State of) Regional Transportation District (Fastracks); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 A, RB | 5.00% | 11/01/2036 | 2715 | &nbsp;&nbsp; 2732809 |
| &nbsp;&nbsp;&nbsp; Series 2017 A, RB | 5.00% | 11/01/2033 | 1000 | &nbsp;&nbsp; 1010109 |
| &nbsp;&nbsp;&nbsp; Series 2017 A, RB | 5.00% | 11/01/2036 | 2940 | &nbsp;&nbsp; 2964496 |
| Denver (City & County of), CO; Series 2016 A, Ref. RB | 5.00% | 11/15/2032 | 1770 | &nbsp;&nbsp; 1808120 |
| Denver City & County School District No. 1; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025 A, GO Bonds | 5.00% | 12/01/2026 | 1000 | &nbsp;&nbsp; 1032365 |
| &nbsp;&nbsp;&nbsp; Series 2025 A, GO Bonds | 5.25% | 12/01/2036 | 1500 | &nbsp;&nbsp; 1699842 |
| Larimer County School District No. R-1 Poudre; Series 2018, GO Bonds | 5.00% | 12/15/2040 | 2660 | &nbsp;&nbsp; 2711715 |
| Rio Blanco County School District No. Re-1 Meeker; Series 2014, Ref. GO Bonds | 4.50% | 12/01/2025 | 1685 | &nbsp;&nbsp; 1686242 |
| &nbsp;&nbsp;&nbsp; St. Vrain Valley School District Re-1J (Boulder, Larimer & Weld Counties and the City and <br> County of Broomfield); Series 2024, GO Bonds<br>| 5.00% | 12/15/2025 | 1000 | &nbsp;&nbsp; 1010944 |
| Weld County School District No. Re-1; Series 2017, GO Bonds (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 12/15/2031 | 1500 | &nbsp;&nbsp; 1534344 |
| Weld County School District No. RE-7 Platte Valley; Series 2024, GO Bonds | 5.00% | 12/01/2025 | 1735 | &nbsp;&nbsp; 1751882 |
|  |  |  |  | &nbsp;&nbsp; 26524646 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Connecticut–1.44%** | **Connecticut–1.44%** | **Connecticut–1.44%** | **Connecticut–1.44%** | **Connecticut–1.44%** |
| Connecticut (State of); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 E, GO Bonds | 5.00% | 10/15/2034 | $3280 | &nbsp;&nbsp; $3338948 |
| &nbsp;&nbsp;&nbsp; Series 2025 A, GO Bonds | 5.00% | 03/15/2026 | 2000 | &nbsp;&nbsp; 2030909 |
| &nbsp;&nbsp;&nbsp; Series 2025 A, GO Bonds | 5.00% | 03/15/2027 | 3125 | &nbsp;&nbsp; 3237445 |
| Connecticut (State of) (Transportation Infrastructure); Series 2015 A, RB | 5.00% | 08/01/2028 | 3000 | &nbsp;&nbsp; 3007348 |
| Connecticut (State of) Health & Educational Facilities Authority; Series 2025, RB<sup>(b)</sup> <br>| 5.00% | 07/01/2030 | 5000 | &nbsp;&nbsp; 5431090 |
| Connecticut (State of) Health & Educational Facilities Authority (Hartford Healthcare); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2014 E, RB | 5.00% | 07/01/2025 | 125 | &nbsp;&nbsp; 125138 |
| &nbsp;&nbsp;&nbsp; Series 2014 E, RB | 5.00% | 07/01/2026 | 1000 | &nbsp;&nbsp; 1003124 |
| &nbsp;&nbsp;&nbsp; Series 2014 E, RB | 5.00% | 07/01/2027 | 1265 | &nbsp;&nbsp; 1268654 |
| Connecticut (State of) Housing Finance Authority (Green Bonds); Series 2024, RB<sup>(b)</sup> <br>| 3.35% | 05/15/2027 | 1500 | &nbsp;&nbsp; 1500562 |
| New Haven (City of), CT; Series 2024, Ref. GO Bonds (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 08/01/2025 | 760 | &nbsp;&nbsp; 762074 |
| South Central Connecticut Regional Water Authority; Twenty Ninth Series 2014, Ref. RB | 5.00% | 08/01/2025 | 500 | &nbsp;&nbsp; 500711 |
|  |  |  |  | &nbsp;&nbsp; 22206003 |
| **Delaware–0.27%** | **Delaware–0.27%** | **Delaware–0.27%** | **Delaware–0.27%** | **Delaware–0.27%** |
| Delaware (State of) Economic Development Authority; Series 2020, Ref. RB<sup>(b)</sup> <br>| 1.25% | 10/01/2025 | 4250 | &nbsp;&nbsp; 4185162 |
| **District of Columbia–1.85%** | **District of Columbia–1.85%** | **District of Columbia–1.85%** | **District of Columbia–1.85%** | **District of Columbia–1.85%** |
| District of Columbia; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2012, RB | 5.00% | 12/01/2026 | 100 | &nbsp;&nbsp; 100147 |
| &nbsp;&nbsp;&nbsp; Series 2023 A, GO Bonds | 5.00% | 01/01/2037 | 3000 | &nbsp;&nbsp; 3256047 |
| &nbsp;&nbsp;&nbsp; Series 2025 A, Ref. RB | 5.00% | 06/01/2027 | 3000 | &nbsp;&nbsp; 3124410 |
| District of Columbia (Children's Hospital Obligated Group); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB | 5.00% | 07/15/2032 | 1000 | &nbsp;&nbsp; 1007300 |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB | 5.00% | 07/15/2040 | 3190 | &nbsp;&nbsp; 3192335 |
| Metropolitan Washington Airports Authority; Series 2010 D, VRD RB<sup>(e)(h)</sup> <br>| 1.98% | 06/11/2025 | 10000 | &nbsp;&nbsp; 10000000 |
| Washington Metropolitan Area Transit Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017 B, RB | 5.00% | 07/01/2025 | 1390 | &nbsp;&nbsp; 1391798 |
| &nbsp;&nbsp;&nbsp; Series 2017 B, RB | 5.00% | 07/01/2031 | 1110 | &nbsp;&nbsp; 1145533 |
| &nbsp;&nbsp;&nbsp; Series 2017 B, RB | 5.00% | 07/01/2035 | 1400 | &nbsp;&nbsp; 1424415 |
| &nbsp;&nbsp;&nbsp; Series 2017 B, RB | 5.00% | 07/01/2042 | 3750 | &nbsp;&nbsp; 3763098 |
|  |  |  |  | &nbsp;&nbsp; 28405083 |
| **Florida–8.03%** | **Florida–8.03%** | **Florida–8.03%** | **Florida–8.03%** | **Florida–8.03%** |
| Board of Governors of Florida Atlantic University; Series 2016 A, Ref. RB | 5.00% | 07/01/2031 | 1000 | &nbsp;&nbsp; 1015197 |
| Broward (County of), FL; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2013 B, RB | 5.00% | 10/01/2026 | 260 | &nbsp;&nbsp; 260390 |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. RB | 5.00% | 10/01/2028 | 3895 | &nbsp;&nbsp; 3918525 |
| Broward (County of), FL School Board; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. COP<sup>(a)(b)</sup> <br>| 5.00% | 07/09/2025 | 2000 | &nbsp;&nbsp; 2003703 |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. COP<sup>(a)(b)</sup> <br>| 5.00% | 07/09/2025 | 4000 | &nbsp;&nbsp; 4007406 |
| &nbsp;&nbsp;&nbsp; Series 2015 B, Ref. COP<sup>(a)(b)</sup> <br>| 5.00% | 07/09/2025 | 6640 | &nbsp;&nbsp; 6652295 |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. COP | 5.00% | 07/01/2032 | 4135 | &nbsp;&nbsp; 4201304 |
| Capital Trust Agency, Inc. (Gardens Apartements); Series 2015 A, RB | 3.50% | 07/01/2025 | 115 | &nbsp;&nbsp; 114761 |
| Central Florida Expressway Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 B, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 07/01/2026 | 3005 | &nbsp;&nbsp; 3070915 |
| &nbsp;&nbsp;&nbsp; Series 2017, Ref. RB | 5.00% | 07/01/2038 | 1535 | &nbsp;&nbsp; 1563978 |
| &nbsp;&nbsp;&nbsp; Series 2017, Ref. RB | 5.00% | 07/01/2039 | 2020 | &nbsp;&nbsp; 2043225 |
| Duval County (County of), FL School Board; Series 2025 A, Ref. COP (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 07/01/2028 | 1250 | &nbsp;&nbsp; 1321285 |
| Florida (State of) Board of Governors (University of North Florida); Series 2023 A, RB | 5.00% | 11/01/2025 | 1270 | &nbsp;&nbsp; 1278724 |
| &nbsp;&nbsp;&nbsp; Florida (State of) Municipal Loan Council (Shingle Creek Transit & Utility Community <br> Development District); Series 2024, RB<sup>(f)</sup> <br>| 4.50% | 05/01/2031 | 230 | &nbsp;&nbsp; 230757 |
| Florida (State of) Municipal Power Agency; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015, RB | 5.00% | 10/01/2030 | 1930 | &nbsp;&nbsp; 1938778 |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. RB | 5.00% | 10/01/2027 | 2385 | &nbsp;&nbsp; 2436902 |
| &nbsp;&nbsp;&nbsp; Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion); Series 2024, <br> Ref. RB<sup>(f)</sup> <br>| 5.00% | 07/01/2035 | 1000 | &nbsp;&nbsp; 986405 |
| Florida Development Finance Corp. (Brightline Florida Passenger Rail); Series 2024, Ref. RB<sup>(f)</sup> <br>| 5.00% | 07/01/2037 | 3000 | &nbsp;&nbsp; 2880629 |
| Florida Housing Finance Corp.; Series 2024 3, RB (CEP - GNMA) | 6.25% | 01/01/2055 | 1645 | &nbsp;&nbsp; 1785491 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Florida–(continued)** | **Florida–(continued)** | **Florida–(continued)** | **Florida–(continued)** | **Florida–(continued)** |
| Florida Housing Finance Corp. (Social Bonds); Series 2022-3, RB (CEP - GNMA) | 5.50% | 01/01/2054 | $4000 | &nbsp;&nbsp; $4173142 |
| Gainesville (City of), FL; Series 2017 A, RB | 5.00% | 10/01/2031 | 1265 | &nbsp;&nbsp; 1322534 |
| Greater Orlando Aviation Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 B, RB<sup>(a)(b)</sup> <br>| 5.00% | 10/01/2026 | 210 | &nbsp;&nbsp; 215704 |
| &nbsp;&nbsp;&nbsp; Series 2016 B, RB | 5.00% | 10/01/2039 | 2165 | &nbsp;&nbsp; 2183790 |
| &nbsp;&nbsp;&nbsp; Hillsborough (County of), FL Aviation Authority (Tampa International Airport); Series 2018 F, <br> RB<br>| 5.00% | 10/01/2043 | 1305 | &nbsp;&nbsp; 1315914 |
| &nbsp;&nbsp;&nbsp; Hillsborough (County of), FL Industrial Development Authority (Baycare Health System); <br> Series 2024 C, Ref. RB<br>| 5.00% | 11/15/2034 | 6000 | &nbsp;&nbsp; 6699293 |
| Hillsborough (County of), FL School Board (Master Lease Program); Series 2015 A, Ref. COP | 5.00% | 07/01/2030 | 2330 | &nbsp;&nbsp; 2332828 |
| JEA Electric System; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017 B, Ref. RB | 5.00% | 10/01/2032 | 3410 | &nbsp;&nbsp; 3526652 |
| &nbsp;&nbsp;&nbsp; Series 2017 B, Ref. RB | 5.00% | 10/01/2033 | 4000 | &nbsp;&nbsp; 4126513 |
| JEA Water & Sewer System; Series 2025 A, Ref. RB | 5.00% | 10/01/2025 | 1800 | &nbsp;&nbsp; 1812092 |
| Lake (County of), FL School Board; Series 2015 B, Ref. COP<sup>(a)(b)</sup> <br>| 5.00% | 06/24/2025 | 2000 | &nbsp;&nbsp; 2002196 |
| &nbsp;&nbsp;&nbsp; Lee (County of), FL Industrial Development Authority (Shell Point Obligated Group); <br> Series 2024 B-3, RB<br>| 4.13% | 11/15/2029 | 1155 | &nbsp;&nbsp; 1155706 |
| Lee County School Board (The); Series 2016 A, COP | 5.00% | 08/01/2035 | 1000 | &nbsp;&nbsp; 1017860 |
| Miami (City of) & Dade (County of), FL School Board (The); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 D, Ref. COP | 5.00% | 02/01/2034 | 2220 | &nbsp;&nbsp; 2237807 |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. COP | 5.00% | 05/01/2032 | 3295 | &nbsp;&nbsp; 3334894 |
| &nbsp;&nbsp;&nbsp; Series 2025 A, Ref. COP | 5.00% | 05/01/2028 | 5000 | &nbsp;&nbsp; 5259957 |
| &nbsp;&nbsp;&nbsp; Series 2025, Ref. COP | 5.00% | 05/01/2026 | 3000 | &nbsp;&nbsp; 3048470 |
| Miami-Dade (County of), FL; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2014, RB | 5.00% | 10/01/2032 | 1160 | &nbsp;&nbsp; 1160875 |
| &nbsp;&nbsp;&nbsp; Series 2015 B, Ref. GO Bonds | 5.00% | 07/01/2029 | 1105 | &nbsp;&nbsp; 1107532 |
| Miami-Dade (County of), FL Expressway Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2010 A, RB | 5.00% | 07/01/2040 | 10000 | &nbsp;&nbsp; 9999598 |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. RB | 5.00% | 07/01/2032 | 2000 | &nbsp;&nbsp; 2025520 |
| Miami-Dade (County of), FL Transit System; Series 2015, Ref. RB | 5.00% | 07/01/2031 | 2210 | &nbsp;&nbsp; 2213154 |
| Orlando (City of), FL Utilities Commission; Series 2025 A, RB | 5.00% | 10/01/2036 | 1000 | &nbsp;&nbsp; 1106458 |
| Osceola (County of), FL; Series 2016 A, Ref. RB | 5.00% | 10/01/2030 | 1000 | &nbsp;&nbsp; 1004681 |
| Palm Beach County School District; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 C, Ref. COP<sup>(a)(b)</sup> <br>| 5.00% | 08/01/2025 | 1000 | &nbsp;&nbsp; 1002994 |
| &nbsp;&nbsp;&nbsp; Series 2015 D, Ref. COP<sup>(a)(b)</sup> <br>| 5.00% | 08/01/2025 | 1410 | &nbsp;&nbsp; 1414222 |
| &nbsp;&nbsp;&nbsp; Series 2025 A, Ref. COP | 5.00% | 08/01/2029 | 1250 | &nbsp;&nbsp; 1346905 |
| St. Johns (County of), FL Housing Finance Authority (Oaks at St. John); Series 2023 B, RB<sup>(b)(d)</sup> <br>| 5.50% | 12/01/2026 | 6000 | &nbsp;&nbsp; 5970460 |
| Sunshine Skyway Bridge; Series 2019 A, RB | 5.00% | 07/01/2025 | 1775 | &nbsp;&nbsp; 1777529 |
| Tallahassee (City of), FL; Series 2017, Ref. RB | 5.00% | 10/01/2031 | 1225 | &nbsp;&nbsp; 1231911 |
| USF Financing Corp.; Series 2012 A, Ref. COP | 5.00% | 07/01/2032 | 4550 | &nbsp;&nbsp; 4555274 |
|  |  |  |  | &nbsp;&nbsp; 123393135 |
| **Georgia–2.37%** | **Georgia–2.37%** | **Georgia–2.37%** | **Georgia–2.37%** | **Georgia–2.37%** |
| Atlanta (City of), GA; Series 2015, Ref. RB | 5.00% | 11/01/2040 | 3460 | &nbsp;&nbsp; 3470572 |
| &nbsp;&nbsp;&nbsp; Atlanta (City of), GA Urban Residential Finance Authority (GE Tower Apartments); Series 2023 <br> B, RB<sup>(b)</sup> <br>| 5.75% | 06/01/2025 | 3000 | &nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp; Burke (County of), GA Development Authority (The) (Georgia Power Co. Plant Vogtle); <br> Series 2012, Ref. RB<sup>(b)</sup> <br>| 2.88% | 08/19/2025 | 5000 | &nbsp;&nbsp; 4988573 |
| Carroll (County of), GA; Series 2021, GO Bonds | 5.00% | 06/01/2026 | 1250 | &nbsp;&nbsp; 1274044 |
| College Park (City of), GA (Atlanta International Airport); Series 2006 B, RB (INS - NATL)<sup>(c)</sup> <br>| 4.38% | 01/01/2026 | 10 | &nbsp;&nbsp; 10008 |
| DeKalb (County of), GA Development Authority (The Globe Academy, Inc.); Series 2024 A, RB | 4.00% | 06/01/2035 | 690 | &nbsp;&nbsp; 657912 |
| DeKalb (County of), GA Housing Authority (Park at 500); Series 2024, RB | 4.00% | 03/01/2034 | 3250 | &nbsp;&nbsp; 3173102 |
| Fulton (County of), GA; Series 2013, Ref. RB | 5.00% | 01/01/2027 | 1605 | &nbsp;&nbsp; 1612623 |
| Main Street Natural Gas, Inc.; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2019 C, RB<sup>(b)</sup> <br>| 4.00% | 09/01/2026 | 7000 | &nbsp;&nbsp; 7015731 |
| &nbsp;&nbsp;&nbsp; Series 2021 A, RB<sup>(b)</sup> <br>| 4.00% | 09/01/2027 | 5120 | &nbsp;&nbsp; 5118801 |
| &nbsp;&nbsp;&nbsp; Series 2021 C, RB | 4.00% | 12/01/2025 | 1100 | &nbsp;&nbsp; 1102237 |
| &nbsp;&nbsp;&nbsp; Series 2022 C, RB<sup>(b)(d)</sup> <br>| 4.00% | 11/01/2027 | 5000 | &nbsp;&nbsp; 4970477 |
|  |  |  |  | &nbsp;&nbsp; 36394080 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Hawaii–0.64%** | **Hawaii–0.64%** | **Hawaii–0.64%** | **Hawaii–0.64%** | **Hawaii–0.64%** |
| Hawaii (State of); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2014 EO, GO Bonds | 5.00% | 08/01/2028 | $1880 | &nbsp;&nbsp; $1882203 |
| &nbsp;&nbsp;&nbsp; Series 2016 FG, GO Bonds | 5.00% | 10/01/2030 | 2890 | &nbsp;&nbsp; 2957191 |
| Honolulu (City & County of), HI; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 A, RB | 5.00% | 07/01/2036 | 1000 | &nbsp;&nbsp; 1012212 |
| &nbsp;&nbsp;&nbsp; Series 2023, RB<sup>(b)</sup> <br>| 5.00% | 06/01/2026 | 2125 | &nbsp;&nbsp; 2160210 |
| Honolulu (City & County of), HI (Honolulu Rail Transit); Series 2015 B, Ref. GO Bonds | 5.00% | 10/01/2031 | 1750 | &nbsp;&nbsp; 1756860 |
|  |  |  |  | &nbsp;&nbsp; 9768676 |
| **Idaho–0.25%** | **Idaho–0.25%** | **Idaho–0.25%** | **Idaho–0.25%** | **Idaho–0.25%** |
| Boise State University; Series 2016 A, Ref. RB | 5.00% | 04/01/2033 | 2000 | &nbsp;&nbsp; 2024129 |
| Idaho (State of) Housing & Finance Association; Series 2024 A, RB (CEP - GNMA) | 6.00% | 07/01/2054 | 1670 | &nbsp;&nbsp; 1817367 |
|  |  |  |  | &nbsp;&nbsp; 3841496 |
| **Illinois–7.39%** | **Illinois–7.39%** | **Illinois–7.39%** | **Illinois–7.39%** | **Illinois–7.39%** |
| Chicago (City of), IL (O'Hare International Airport); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 B, Ref. RB | 5.00% | 01/01/2033 | 6205 | &nbsp;&nbsp; 6244402 |
| &nbsp;&nbsp;&nbsp; Series 2016 C, Ref. RB | 5.00% | 01/01/2038 | 3000 | &nbsp;&nbsp; 3009589 |
| &nbsp;&nbsp;&nbsp; Series 2024 B, RB | 5.00% | 01/01/2036 | 1000 | &nbsp;&nbsp; 1097196 |
| Chicago (City of), IL Transit Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024 A, Ref. RB | 5.00% | 12/01/2025 | 2000 | &nbsp;&nbsp; 2019362 |
| &nbsp;&nbsp;&nbsp; Series 2024 A, Ref. RB | 5.00% | 12/01/2035 | 1500 | &nbsp;&nbsp; 1654986 |
| &nbsp;&nbsp;&nbsp; Series 2024 A, Ref. RB | 5.00% | 12/01/2036 | 1500 | &nbsp;&nbsp; 1640802 |
| Collinsville (City of), IL Area Recreation District; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2004, GO Bonds (INS - NATL)<sup>(c)</sup> <br>| 4.60% | 12/01/2025 | 350 | &nbsp;&nbsp; 350315 |
| &nbsp;&nbsp;&nbsp; Series 2004, GO Bonds (INS - NATL)<sup>(c)</sup> <br>| 4.65% | 12/01/2026 | 450 | &nbsp;&nbsp; 450410 |
| &nbsp;&nbsp;&nbsp; Series 2007, Ref. GO Bonds (INS - AMBAC)<sup>(c)</sup> <br>| 4.00% | 12/01/2027 | 65 | &nbsp;&nbsp; 64992 |
| Cook (County of), IL; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. GO Bonds | 5.00% | 11/15/2029 | 1000 | &nbsp;&nbsp; 1021316 |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. GO Bonds | 5.00% | 11/15/2030 | 4950 | &nbsp;&nbsp; 5049166 |
| &nbsp;&nbsp;&nbsp; Series 2018, Ref. GO Bonds | 5.00% | 11/15/2034 | 1150 | &nbsp;&nbsp; 1167004 |
| DuPage County Forest Preserve District; Series 2025, GO Bonds | 5.00% | 11/01/2026 | 1000 | &nbsp;&nbsp; 1027394 |
| Elk Grove Village (Village of), IL; Series 2017, GO Bonds | 5.00% | 01/01/2035 | 1000 | &nbsp;&nbsp; 1021735 |
| Elmhurst Park District; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025, GO Bonds | 5.00% | 12/15/2025 | 820 | &nbsp;&nbsp; 828318 |
| &nbsp;&nbsp;&nbsp; Series 2025, GO Bonds | 5.00% | 12/15/2026 | 250 | &nbsp;&nbsp; 257734 |
| &nbsp;&nbsp;&nbsp; Series 2025, GO Bonds | 5.00% | 12/15/2035 | 400 | &nbsp;&nbsp; 446423 |
| &nbsp;&nbsp;&nbsp; Series 2025, GO Bonds | 5.00% | 12/15/2036 | 875 | &nbsp;&nbsp; 966632 |
| Grundy Kendall & Will Counties Community High School District No. 111 (Minooka); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025, GO Bonds | 5.00% | 12/01/2026 | 200 | &nbsp;&nbsp; 205879 |
| &nbsp;&nbsp;&nbsp; Series 2025, GO Bonds | 5.00% | 12/01/2034 | 650 | &nbsp;&nbsp; 712112 |
| Illinois (State of); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016, GO Bonds | 5.00% | 11/01/2025 | 2000 | &nbsp;&nbsp; 2014379 |
| &nbsp;&nbsp;&nbsp; Series 2016, GO Bonds | 5.00% | 01/01/2027 | 3510 | &nbsp;&nbsp; 3542502 |
| &nbsp;&nbsp;&nbsp; Series 2019 A, GO Bonds | 5.00% | 11/01/2026 | 2935 | &nbsp;&nbsp; 3004710 |
| Illinois (State of) Development Finance Authority (CITGO Petroleum Corp.); Series 2002, RB<sup>(f)</sup> <br>| 8.00% | 06/01/2032 | 560 | &nbsp;&nbsp; 560581 |
| Illinois (State of) Finance Authority; Series 2016 A, Ref. RB | 5.00% | 10/01/2035 | 2000 | &nbsp;&nbsp; 2016897 |
| Illinois (State of) Finance Authority (Advocate Health Care Network); Series 2014, Ref. RB | 5.00% | 08/01/2025 | 1505 | &nbsp;&nbsp; 1506328 |
| Illinois (State of) Finance Authority (Carle Foundation (The)); Series 2016 A, Ref. RB | 5.00% | 02/15/2032 | 4300 | &nbsp;&nbsp; 4336658 |
| Illinois (State of) Finance Authority (Lutheran Communities Obligated Group); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2019 A, Ref. RB (Acquired 11/27/2019; Cost $443,275)<sup>(i)</sup> <br>| 5.00% | 11/01/2025 | 440 | &nbsp;&nbsp; 294800 |
| &nbsp;&nbsp;&nbsp; Series 2019 A, Ref. RB (Acquired 11/27/2019; Cost $470,654)<sup>(i)</sup> <br>| 5.00% | 11/01/2026 | 460 | &nbsp;&nbsp; 308200 |
| Illinois (State of) Finance Authority (Rosalind Franklin University); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017, Ref. RB | 5.00% | 08/01/2027 | 425 | &nbsp;&nbsp; 437146 |
| &nbsp;&nbsp;&nbsp; Series 2017, Ref. RB | 5.00% | 08/01/2028 | 500 | &nbsp;&nbsp; 513784 |
| &nbsp;&nbsp;&nbsp; Series 2017, Ref. RB | 5.00% | 08/01/2029 | 325 | &nbsp;&nbsp; 333194 |
| Illinois (State of) Finance Authority (Rush University Medical Center); Series 2015 A, Ref. RB | 5.00% | 11/15/2034 | 3980 | &nbsp;&nbsp; 3979905 |
| Illinois (State of) Finance Authority (Uchicago Medicine); Series 2022 B-2, RB<sup>(b)</sup> <br>| 5.00% | 08/15/2027 | 9850 | &nbsp;&nbsp; 10172989 |
| Illinois (State of) Housing Development Authority; Series 2005, RB (INS - AGI)<sup>(c)</sup> <br>| 4.60% | 09/01/2025 | 5 | &nbsp;&nbsp; 5005 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Illinois–(continued)** | **Illinois–(continued)** | **Illinois–(continued)** | **Illinois–(continued)** | **Illinois–(continued)** |
| &nbsp;&nbsp;&nbsp; Illinois (State of) Housing Development Authority (6900 Crandon); Series 2023, RB (CEP - <br> Federal Housing Administration)<sup>(b)</sup> <br>| 5.00% | 02/01/2026 | $4570 | &nbsp;&nbsp; $4618325 |
| &nbsp;&nbsp;&nbsp; Illinois (State of) Housing Development Authority (Green Bonds); Series 2024 E, Ref. VRD RB <br> (CEP - Federal Housing Administration)<sup>(e)</sup> <br>| 1.99% | 06/11/2025 | 3500 | &nbsp;&nbsp; 3500000 |
| Illinois (State of) Municipal Electric Agency; Series 2015 A, Ref. RB | 5.00% | 02/01/2032 | 3900 | &nbsp;&nbsp; 3901999 |
| Illinois (State of) Regional Transportation Authority; Series 2004 A, RB (INS - AGI)<sup>(c)</sup> <br>| 5.25% | 06/01/2025 | 2930 | &nbsp;&nbsp; 2930000 |
| Illinois (State of) Toll Highway Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 A, RB | 5.00% | 01/01/2036 | 4700 | &nbsp;&nbsp; 4700664 |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. RB | 5.00% | 12/01/2032 | 9115 | &nbsp;&nbsp; 9181649 |
| Kane Cook & DuPage Counties School District No. U-46 Elgin; Series 2025, GO Bonds | 5.00% | 01/01/2036 | 1115 | &nbsp;&nbsp; 1214304 |
| &nbsp;&nbsp;&nbsp; Kane McHenry Cook & De Kalb Counties Unit School District No. 300; Series 2015, Ref. GO <br> Bonds<br>| 5.00% | 01/01/2028 | 1000 | &nbsp;&nbsp; 1001259 |
| &nbsp;&nbsp;&nbsp; Kendall, Kane & Will (Counties of), IL Community Unit School District No. 308; Series 2016, <br> Ref. GO Bonds<br>| 5.00% | 02/01/2035 | 3000 | &nbsp;&nbsp; 3017389 |
| &nbsp;&nbsp;&nbsp; Madison-Macoupin Etc Counties Community College District No. 536; Series 2015 A, Ref. GO <br> Bonds (INS - BAM)<sup>(c)</sup> <br>| 5.00% | 11/01/2027 | 1335 | &nbsp;&nbsp; 1336628 |
| &nbsp;&nbsp;&nbsp; Rockford (City of), IL (Waterworks System Alternative Revenue Source); Series 2010, GO <br> Bonds<br>| 3.75% | 12/15/2025 | 140 | &nbsp;&nbsp; 140057 |
| Tender Option Bond Trust Receipts/Certificates; Series 2023, VRD RB (INS - AGI)<sup>(c)(d)(e)</sup> <br>| 1.62% | 06/04/2025 | 11530 | &nbsp;&nbsp; 11530000 |
| University of Illinois; Series 2008 A, Ref. COP (INS - AGI)<sup>(c)</sup> <br>| 5.25% | 10/01/2026 | 1020 | &nbsp;&nbsp; 1021687 |
| West Chicago Fire Protection District; Series 2008, GO Bonds (INS - NATL)<sup>(c)</sup> <br>| 4.75% | 01/01/2029 | 15 | &nbsp;&nbsp; 15013 |
| &nbsp;&nbsp;&nbsp; Will County Community Unit School District No. 201-U Crete-Monee; Series 2005, GO <br> Bonds<sup>(a)(g)</sup> <br>| 0.00% | 11/01/2025 | 1755 | &nbsp;&nbsp; 1729916 |
| Winnebago-Boone Etc Counties Community College District No. 511 Rock Valley Clg | 4.00% | 01/01/2035 | 1440 | &nbsp;&nbsp; 1439600 |
|  |  |  |  | &nbsp;&nbsp; 113541335 |
| **Indiana–1.06%** | **Indiana–1.06%** | **Indiana–1.06%** | **Indiana–1.06%** | **Indiana–1.06%** |
| Indiana (State of) Finance Authority; Series 2016, Ref. RB | 5.00% | 09/01/2028 | 1280 | &nbsp;&nbsp; 1309964 |
| Indiana (State of) Finance Authority (CWA Authority); Series 2014 A, RB | 5.00% | 10/01/2026 | 1750 | &nbsp;&nbsp; 1752670 |
| &nbsp;&nbsp;&nbsp; Indiana (State of) Housing & Community Development Authority (Social Bonds); Series 2023 <br> A-1, RB (CEP - GNMA)<br>| 5.75% | 07/01/2053 | 2740 | &nbsp;&nbsp; 2884737 |
| Indiana (State of) Municipal Power Agency; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 C, Ref. RB | 5.00% | 01/01/2039 | 1000 | &nbsp;&nbsp; 1007902 |
| &nbsp;&nbsp;&nbsp; Series 2025 A, Ref. RB (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 01/01/2026 | 1000 | &nbsp;&nbsp; 1011304 |
| Indianapolis Local Public Improvement Bond Bank; Series 2015, Ref. RB<sup>(f)</sup> <br>| 5.00% | 01/01/2030 | 3250 | &nbsp;&nbsp; 3254444 |
| Merrillville (Town of), IN (Belvedere Housing); Series 2016, RB | 5.05% | 04/01/2026 | 100 | &nbsp;&nbsp; 99038 |
| Rockport (City of), IN (Indiana Michigan Power Co.); Series 2025, Ref. RB<sup>(b)</sup> <br>| 3.70% | 06/01/2029 | 5000 | &nbsp;&nbsp; 4989620 |
|  |  |  |  | &nbsp;&nbsp; 16309679 |
| **Iowa–2.03%** | **Iowa–2.03%** | **Iowa–2.03%** | **Iowa–2.03%** | **Iowa–2.03%** |
| Ames (City of), IA (Mary Greely Medical Center); Series 2016, Ref. RB | 5.00% | 06/15/2032 | 4430 | &nbsp;&nbsp; 4476320 |
| Iowa (State of) Finance Authority (Unitypoint Health); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2014 C, RB | 5.00% | 02/15/2031 | 810 | &nbsp;&nbsp; 811533 |
| &nbsp;&nbsp;&nbsp; Series 2014 C, RB | 5.00% | 02/15/2032 | 3405 | &nbsp;&nbsp; 3411574 |
| Iowa (State of) Higher Education Loan Authority (Grinnell College); Series 2014, Ref. RB | 5.00% | 12/01/2032 | 1675 | &nbsp;&nbsp; 1675675 |
| Iowa (State of) Tobacco Settlement Authority; Series 2021 B-1, Ref. RB | 4.00% | 06/01/2049 | 905 | &nbsp;&nbsp; 905000 |
| PEFA, Inc.; Series 2019, RB<sup>(b)</sup> <br>| 5.00% | 09/01/2026 | 19695 | &nbsp;&nbsp; 19913075 |
|  |  |  |  | &nbsp;&nbsp; 31193177 |
| **Kansas–1.36%** | **Kansas–1.36%** | **Kansas–1.36%** | **Kansas–1.36%** | **Kansas–1.36%** |
| Kansas (State of) Department of Transportation; Series 2025 A, Ref. RB | 5.00% | 09/01/2028 | 7000 | &nbsp;&nbsp; 7451910 |
| University of Kansas Hospital Authority (KU Health System); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB | 5.00% | 09/01/2030 | 1930 | &nbsp;&nbsp; 1937076 |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB | 5.00% | 09/01/2032 | 2765 | &nbsp;&nbsp; 2773411 |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB | 5.00% | 09/01/2035 | 2000 | &nbsp;&nbsp; 2004177 |
| Valley Center (City of), KS; Series 2023-1, GO Notes | 4.38% | 12/01/2025 | 4820 | &nbsp;&nbsp; 4821227 |
| Wichita (City of), KS (Presbyterian Manors, Inc.); Series 2024 VIII, Ref. RB | 5.25% | 05/15/2039 | 1000 | &nbsp;&nbsp; 964764 |
| Wyandotte (County of) & Kansas City (City of), KS Unified Government; Series 2016 C, RB | 5.00% | 09/01/2030 | 1000 | &nbsp;&nbsp; 1020707 |
|  |  |  |  | &nbsp;&nbsp; 20973272 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Kentucky–1.53%** | **Kentucky–1.53%** | **Kentucky–1.53%** | **Kentucky–1.53%** | **Kentucky–1.53%** |
| Jefferson County Capital Projects Corp.; Series 2007 A, Ref. RB (INS - AGI)<sup>(c)</sup> <br>| 4.38% | 06/01/2028 | $25 | &nbsp;&nbsp; $25027 |
| &nbsp;&nbsp;&nbsp; Kentucky (Commonwealth of) Economic Development Finance Authority (Next Generation <br> Kentucky Information Highway);<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 A, RB | 5.00% | 07/01/2025 | 425 | &nbsp;&nbsp; 425357 |
| &nbsp;&nbsp;&nbsp; Series 2015 A, RB | 5.00% | 07/01/2028 | 1000 | &nbsp;&nbsp; 1001051 |
| Kentucky (Commonwealth of) Municipal Power Agency; Series 2015 A, Ref. RB (INS - NATL)<sup>(c)</sup> <br>| 5.00% | 09/01/2026 | 2000 | &nbsp;&nbsp; 2006650 |
| Kentucky (Commonwealth of) Property & Building Commission (No. 112); Series 2016 A, RB | 5.00% | 02/01/2034 | 1950 | &nbsp;&nbsp; 1968073 |
| Kentucky (Commonwealth of) Property & Building Commission (No. 132); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025 A, RB | 5.00% | 04/01/2026 | 1000 | &nbsp;&nbsp; 1014912 |
| &nbsp;&nbsp;&nbsp; Series 2025 A, RB | 5.00% | 04/01/2036 | 1000 | &nbsp;&nbsp; 1110951 |
| Kentucky (Commonwealth of) Public Energy Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2019 A-1, RB<sup>(a)(b)</sup> <br>| 4.00% | 06/01/2025 | 5000 | &nbsp;&nbsp; 5000000 |
| &nbsp;&nbsp;&nbsp; Series 2025 A, Ref. RB<sup>(b)</sup> <br>| 5.25% | 12/01/2029 | 3500 | &nbsp;&nbsp; 3672069 |
| Kentucky (Commonwealth of) Turnpike Authority (Revitalization); Series 2016, RB | 5.00% | 07/01/2031 | 1715 | &nbsp;&nbsp; 1740675 |
| &nbsp;&nbsp;&nbsp; Louisville (City of) & Jefferson (County of), KY Metropolitan Government (Norton Healthcare, <br> Inc.);<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. RB | 5.00% | 10/01/2031 | 2835 | &nbsp;&nbsp; 2877085 |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. RB | 5.00% | 10/01/2032 | 2660 | &nbsp;&nbsp; 2695454 |
|  |  |  |  | &nbsp;&nbsp; 23537304 |
| **Louisiana–0.70%** | **Louisiana–0.70%** | **Louisiana–0.70%** | **Louisiana–0.70%** | **Louisiana–0.70%** |
| Louisiana (State of); Series 2022 A, Ref. RB (SOFR + 0.50%)<sup>(b)(j)</sup> <br>| 3.55% | 05/01/2026 | 3075 | &nbsp;&nbsp; 3067764 |
| New Orleans (City of), LA Aviation Board (Consolidated Rental Car); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2018, Ref. RB (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 01/01/2036 | 1250 | &nbsp;&nbsp; 1274819 |
| &nbsp;&nbsp;&nbsp; Series 2018, Ref. RB (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 01/01/2037 | 1440 | &nbsp;&nbsp; 1464593 |
| St. John the Baptist (Parish of), LA (Marathon Oil Corp.); Series 2017, Ref. RB<sup>(b)</sup> <br>| 3.30% | 07/03/2028 | 5000 | &nbsp;&nbsp; 4901939 |
|  |  |  |  | &nbsp;&nbsp; 10709115 |
| **Maine–0.18%** | **Maine–0.18%** | **Maine–0.18%** | **Maine–0.18%** | **Maine–0.18%** |
| Maine (State of) Turnpike Authority; Series 2025, Ref. RB (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 07/01/2028 | 1680 | &nbsp;&nbsp; 1781398 |
| Portland (City of), ME; Series 2016, Ref. RB | 5.00% | 01/01/2032 | 1000 | &nbsp;&nbsp; 1005133 |
|  |  |  |  | &nbsp;&nbsp; 2786531 |
| **Maryland–0.91%** | **Maryland–0.91%** | **Maryland–0.91%** | **Maryland–0.91%** | **Maryland–0.91%** |
| Maryland (State of) Health & Higher Educational Facilities Authority; Series 2017, Ref. RB | 5.00% | 07/01/2031 | 3000 | &nbsp;&nbsp; 3044774 |
| Maryland (State of) Health & Higher Educational Facilities Authority (MedStar Health); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2013 B, RB | 5.00% | 08/15/2027 | 200 | &nbsp;&nbsp; 200517 |
| &nbsp;&nbsp;&nbsp; Series 2017 A, RB | 5.00% | 05/15/2042 | 1875 | &nbsp;&nbsp; 1850240 |
| &nbsp;&nbsp;&nbsp; Maryland (State of) Health & Higher Educational Facilities Authority (Medstar Health, Inc.); <br> Series 2015, Ref. RB<br>| 5.00% | 08/15/2032 | 6840 | &nbsp;&nbsp; 6843139 |
| Maryland Economic Development Corp.; Series 2025, Ref. RB<sup>(b)(d)</sup> <br>| 5.00% | 03/27/2035 | 2155 | &nbsp;&nbsp; 2103715 |
|  |  |  |  | &nbsp;&nbsp; 14042385 |
| **Massachusetts–0.74%** | **Massachusetts–0.74%** | **Massachusetts–0.74%** | **Massachusetts–0.74%** | **Massachusetts–0.74%** |
| Massachusetts (Commonwealth of) Development Finance Agency; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 F, Ref. RB | 5.00% | 08/15/2034 | 1600 | &nbsp;&nbsp; 1600836 |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB | 5.00% | 08/15/2033 | 3735 | &nbsp;&nbsp; 3738064 |
| &nbsp;&nbsp;&nbsp; Series 2025, RB | 5.00% | 07/01/2029 | 1800 | &nbsp;&nbsp; 1889120 |
| &nbsp;&nbsp;&nbsp; Massachusetts (Commonwealth of) Development Finance Agency (Emerson College); <br> Series 2025, Ref. RB<br>| 5.00% | 01/01/2026 | 1115 | &nbsp;&nbsp; 1124518 |
| &nbsp;&nbsp;&nbsp; Massachusetts (Commonwealth of) Health & Educational Facilities Authority; Series 2007 C, <br> RB (SIFMA Municipal Swap Index + 0.90%)<sup>(j)</sup> <br>| 2.87% | 11/15/2032 | 2155 | &nbsp;&nbsp; 2077182 |
| Massachusetts (Commonwealth of) Port Authority; Series 2016 A, Ref. RB | 5.00% | 07/01/2025 | 1000 | &nbsp;&nbsp; 1001466 |
| Waltham (City of), MA; Series 2008, GO Bonds | 4.20% | 09/15/2027 | 15 | &nbsp;&nbsp; 15012 |
|  |  |  |  | &nbsp;&nbsp; 11446198 |
| **Michigan–4.12%** | **Michigan–4.12%** | **Michigan–4.12%** | **Michigan–4.12%** | **Michigan–4.12%** |
| Ann Arbor School District; Series 2025, Ref. GO Bonds | 5.00% | 05/01/2029 | 2885 | &nbsp;&nbsp; 3098855 |
| Detroit (City of), MI; Series 2006, Ref. RB (3 mo. Term SOFR + 0.60%)<sup>(c)(j)</sup> <br>| 3.66% | 07/01/2032 | 7825 | &nbsp;&nbsp; 7727484 |
| Garden City (City of), MI; Series 2024, GO Bonds | 5.00% | 10/01/2025 | 1195 | &nbsp;&nbsp; 1202115 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Michigan–(continued)** | **Michigan–(continued)** | **Michigan–(continued)** | **Michigan–(continued)** | **Michigan–(continued)** |
| Great Lakes Water Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 C, Ref. RB | 5.00% | 07/01/2032 | $1560 | &nbsp;&nbsp; $1584021 |
| &nbsp;&nbsp;&nbsp; Series 2016 D, Ref. RB | 5.00% | 07/01/2036 | 5000 | &nbsp;&nbsp; 5049247 |
| Karegnondi Water Authority (Karegnondi Water Pipeline); Series 2024, Ref. RB (INS - BAM)<sup>(c)</sup> <br>| 5.00% | 11/01/2025 | 1000 | &nbsp;&nbsp; 1008109 |
| L'Anse Creuse Public Schools; Series 2025 I, GO Bonds | 5.00% | 05/01/2036 | 1000 | &nbsp;&nbsp; 1118009 |
| Michigan (State of) Building Authority (Facilities Program); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 I, Ref. RB | 5.00% | 04/15/2030 | 2330 | &nbsp;&nbsp; 2343399 |
| &nbsp;&nbsp;&nbsp; Series 2015 I, Ref. RB | 5.00% | 04/15/2031 | 1565 | &nbsp;&nbsp; 1573360 |
| &nbsp;&nbsp;&nbsp; Series 2016 I, Ref. RB | 5.00% | 10/15/2032 | 1250 | &nbsp;&nbsp; 1276905 |
| &nbsp;&nbsp;&nbsp; Series 2020, Ref. VRD RB<sup>(e)</sup> <br>| 2.07% | 06/11/2025 | 3100 | &nbsp;&nbsp; 3100000 |
| Michigan (State of) Finance Authority; Series 2025 A, Ref. RB | 5.00% | 02/15/2029 | 2385 | &nbsp;&nbsp; 2559628 |
| Michigan (State of) Finance Authority (Beaumont Health Credit Group); Series 2022, Ref. RB | 5.00% | 04/15/2036 | 2000 | &nbsp;&nbsp; 2133902 |
| Michigan (State of) Finance Authority (McLaren Health Care); Series 2015, Ref. RB | 5.00% | 05/15/2034 | 1340 | &nbsp;&nbsp; 1340607 |
| Michigan (State of) Finance Authority (Trinity Health Credit Group); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB | 5.50% | 12/01/2028 | 2245 | &nbsp;&nbsp; 2248900 |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB | 5.50% | 12/01/2029 | 3075 | &nbsp;&nbsp; 3080092 |
| Michigan (State of) Housing Development Authority (Social Bonds); Series 2024 A, RB | 6.00% | 06/01/2054 | 3805 | &nbsp;&nbsp; 4087358 |
| Muskegon Heights (City of), MI; Series 2006, Ref. RB (INS - NATL)<sup>(c)</sup> <br>| 4.00% | 11/01/2026 | 185 | &nbsp;&nbsp; 184782 |
| Portage Public Schools; Series 2025, GO Bonds (INS - BAM)<sup>(c)</sup> <br>| 6.00% | 11/01/2025 | 1000 | &nbsp;&nbsp; 1012104 |
| Rib Floater Trust; Series 2022-047, VRD RB<sup>(d)(e)</sup> <br>| 1.53% | 06/04/2025 | 10000 | &nbsp;&nbsp; 10000000 |
| Utica Community Schools; Series 2016, Ref. GO Bonds | 5.00% | 05/01/2031 | 1990 | &nbsp;&nbsp; 2024164 |
| &nbsp;&nbsp;&nbsp; Wayne (County of), MI Airport Authority (Detroit Michigan Wayne County Airport); Series 2015 <br> D, RB<br>| 5.00% | 12/01/2029 | 1700 | &nbsp;&nbsp; 1704592 |
| Wayne State University; Series 2018 A, RB | 5.00% | 11/15/2038 | 2220 | &nbsp;&nbsp; 2233289 |
| Western Michigan University; Series 2015 A, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 06/16/2025 | 1700 | &nbsp;&nbsp; 1701186 |
|  |  |  |  | &nbsp;&nbsp; 63392108 |
| **Minnesota–0.30%** | **Minnesota–0.30%** | **Minnesota–0.30%** | **Minnesota–0.30%** | **Minnesota–0.30%** |
| &nbsp;&nbsp;&nbsp; Minnesota (State of) Governmental Agency Finance Group (Flexible Term Program); <br> Series 2007 A-1, RB (INS - AGI)<sup>(c)</sup> <br>| 4.13% | 03/01/2027 | 10 | &nbsp;&nbsp; 10001 |
| &nbsp;&nbsp;&nbsp; Minnesota (State of) Higher Education Facilities Authority (University of St. Thomas); <br> Series 2017 A, Ref. RB<br>| 5.00% | 10/01/2029 | 1400 | &nbsp;&nbsp; 1448224 |
| Minnesota State Colleges And Universities Foundation; Series 2013 A, RB | 4.00% | 10/01/2025 | 1000 | &nbsp;&nbsp; 1000481 |
| &nbsp;&nbsp;&nbsp; St. Paul (City of), MN Housing & Redevelopment Authority (Healthpartners Obligated Group); <br> Series 2015 A, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 07/01/2025 | 1895 | &nbsp;&nbsp; 1897435 |
| &nbsp;&nbsp;&nbsp; St. Paul (City of), MN Housing & Redevelopment Authority (St. Paul City School); Series 2016 <br> A, Ref. RB<sup>(a)(b)</sup> <br>| 4.50% | 07/01/2026 | 175 | &nbsp;&nbsp; 176330 |
|  |  |  |  | &nbsp;&nbsp; 4532471 |
| **Mississippi–0.10%** | **Mississippi–0.10%** | **Mississippi–0.10%** | **Mississippi–0.10%** | **Mississippi–0.10%** |
| Mississippi (State of); Series 2015 C, Ref. GO Bonds | 5.00% | 10/01/2026 | 1500 | &nbsp;&nbsp; 1510187 |
| Mississippi Business Finance Corp. (Northrop Grumman Corp.); Series 2006, RB | 4.55% | 12/01/2028 | 25 | &nbsp;&nbsp; 25001 |
|  |  |  |  | &nbsp;&nbsp; 1535188 |
| **Missouri–1.86%** | **Missouri–1.86%** | **Missouri–1.86%** | **Missouri–1.86%** | **Missouri–1.86%** |
| Cassville School District No. R-IV; Series 2023, GO Bonds | 5.25% | 03/01/2039 | 2220 | &nbsp;&nbsp; 2274373 |
| Jackson County Consolidated School District No. 4; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2022, GO Bonds | 5.00% | 03/01/2038 | 1825 | &nbsp;&nbsp; 1855618 |
| &nbsp;&nbsp;&nbsp; Series 2022, GO Bonds | 5.00% | 03/01/2039 | 3005 | &nbsp;&nbsp; 3047298 |
| &nbsp;&nbsp;&nbsp; Kansas City (City of), MO Industrial Development Authority (Ward Parkway Center Community <br> Improvement District); Series 2016 A, Ref. RB<sup>(d)</sup> <br>| 4.25% | 04/01/2026 | 100 | &nbsp;&nbsp; 99350 |
| Maryland Heights (City of), MO (Westport Plaza Redevelopment); Series 2020, RB | 4.13% | 11/01/2038 | 920 | &nbsp;&nbsp; 849615 |
| &nbsp;&nbsp;&nbsp; Missouri (State of) Health & Educational Facilities Authority (St. Anthony's Medical Center); <br> Series 2015 B, Ref. RB<br>| 5.00% | 02/01/2036 | 6245 | &nbsp;&nbsp; 6248538 |
| &nbsp;&nbsp;&nbsp; Missouri (State of) Health & Educational Facilities Authority (St. Louis University); Series 2015 <br> A, RB<br>| 5.00% | 10/01/2038 | 4500 | &nbsp;&nbsp; 4512588 |
| &nbsp;&nbsp;&nbsp; Missouri (State of) Health & Educational Facilities Authority (St. Luke's Health System, Inc.); <br> Series 2016, Ref. RB<br>| 5.00% | 11/15/2030 | 1215 | &nbsp;&nbsp; 1230757 |
| Missouri (State of) Joint Municipal Electric Utility Commission (Prairie State); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 06/01/2025 | 2600 | &nbsp;&nbsp; 2600000 |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 06/01/2025 | 3500 | &nbsp;&nbsp; 3500000 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Missouri–(continued)** | **Missouri–(continued)** | **Missouri–(continued)** | **Missouri–(continued)** | **Missouri–(continued)** |
| Springfield Public Building Corp.; Series 2000 A, RB (INS - AMBAC)<sup>(c)(g)</sup> <br>| 0.00% | 06/01/2025 | $60 | &nbsp;&nbsp; $60000 |
| St. Charles (County of), MO Public Water Supply District No. 2; Series 2016, Ref. COP | 5.00% | 12/01/2030 | 2255 | &nbsp;&nbsp; 2268339 |
|  |  |  |  | &nbsp;&nbsp; 28546476 |
| **Nebraska–1.03%** | **Nebraska–1.03%** | **Nebraska–1.03%** | **Nebraska–1.03%** | **Nebraska–1.03%** |
| Central Plains Energy Project; Series 2019, Ref. RB<sup>(b)</sup> <br>| 4.00% | 08/01/2025 | 3380 | &nbsp;&nbsp; 3380958 |
| Douglas (County of), NE (Creighton University); Series 2025, Ref. RB | 5.00% | 07/01/2027 | 1000 | &nbsp;&nbsp; 1039594 |
| Gretna Public Schools; Series 2022 B, GO Bonds | 5.00% | 12/15/2027 | 1000 | &nbsp;&nbsp; 1007632 |
| Nebraska (State of) Municipal Energy Agency; Series 2022 A, Ref. RB | 5.00% | 04/01/2026 | 1250 | &nbsp;&nbsp; 1269259 |
| Omaha School District; Series 2016, GO Bonds | 5.00% | 12/15/2032 | 5000 | &nbsp;&nbsp; 5122777 |
| Public Power Generation Agency (Whelan Energy Center Unit 2); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB | 5.00% | 01/01/2032 | 2980 | &nbsp;&nbsp; 3032604 |
| &nbsp;&nbsp;&nbsp; Series 2024, Ref. RB | 5.00% | 01/01/2026 | 1000 | &nbsp;&nbsp; 1011304 |
|  |  |  |  | &nbsp;&nbsp; 15864128 |
| **Nevada–1.62%** | **Nevada–1.62%** | **Nevada–1.62%** | **Nevada–1.62%** | **Nevada–1.62%** |
| Clark (County of), NV; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. GO Bonds | 5.00% | 07/01/2026 | 2125 | &nbsp;&nbsp; 2128446 |
| &nbsp;&nbsp;&nbsp; Series 2015, RB<sup>(a)(b)</sup> <br>| 5.00% | 08/28/2025 | 1770 | &nbsp;&nbsp; 1777756 |
| Clark (County of), NV Water Reclamation District; Series 2015, Ref. GO Bonds | 5.00% | 07/01/2032 | 2000 | &nbsp;&nbsp; 2002116 |
| Clark County School District; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 D, GO Bonds | 5.00% | 06/15/2029 | 1755 | &nbsp;&nbsp; 1769513 |
| &nbsp;&nbsp;&nbsp; Series 2021 A, GO Bonds | 5.00% | 06/15/2026 | 2000 | &nbsp;&nbsp; 2040196 |
| Las Vegas Valley Water District; Series 2016 B, Ref. GO Bonds | 5.00% | 06/01/2036 | 2805 | &nbsp;&nbsp; 2836609 |
| Nevada (State of) (Casa Grande); Series 2024, COP | 5.00% | 04/01/2026 | 1030 | &nbsp;&nbsp; 1048339 |
| Truckee Meadows Water Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB | 5.00% | 07/01/2031 | 2775 | &nbsp;&nbsp; 2821862 |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB | 5.00% | 07/01/2032 | 2000 | &nbsp;&nbsp; 2032283 |
| Washoe (County of), NV (Sierra Pacific Power Corp.); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB<sup>(b)</sup> <br>| 3.63% | 10/01/2029 | 1500 | &nbsp;&nbsp; 1495650 |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB<sup>(b)(f)</sup> <br>| 4.13% | 10/01/2029 | 5000 | &nbsp;&nbsp; 4995414 |
|  |  |  |  | &nbsp;&nbsp; 24948184 |
| **New Hampshire–1.11%** | **New Hampshire–1.11%** | **New Hampshire–1.11%** | **New Hampshire–1.11%** | **New Hampshire–1.11%** |
| New Hampshire (State of) Business Finance Authority (Social Bonds); Series 2022-2A, RB | 4.00% | 10/20/2036 | 5232 | &nbsp;&nbsp; 4924663 |
| New Hampshire (State of) Business Finance Authority (Social Certificates); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-1A, RB | 4.25% | 07/20/2041 | 3908 | &nbsp;&nbsp; 3624468 |
| &nbsp;&nbsp;&nbsp; Series 2024-3, Revenue Ctfs. | 4.16% | 10/20/2041 | 4975 | &nbsp;&nbsp; 4388278 |
| New Hampshire (State of) Health and Education Facilities Authority; Series 2016, Ref. RB | 5.50% | 06/01/2031 | 4000 | &nbsp;&nbsp; 4059463 |
|  |  |  |  | &nbsp;&nbsp; 16996872 |
| **New Jersey–2.89%** | **New Jersey–2.89%** | **New Jersey–2.89%** | **New Jersey–2.89%** | **New Jersey–2.89%** |
| &nbsp;&nbsp;&nbsp; Camden (County of), NJ Improvement Authority (The) (County Capital Program); Series 2024, <br> RB<sup>(b)</sup> <br>| 5.00% | 03/01/2026 | 4000 | &nbsp;&nbsp; 4048136 |
| Gloucester (County of), NJ Improvement Authority (The); Series 2015 B, Ref. RB | 5.00% | 07/01/2027 | 2000 | &nbsp;&nbsp; 2003054 |
| New Jersey (State of) Economic Development Authority; Series 2004 A, RB<sup>(a)</sup> <br>| 5.25% | 07/01/2025 | 820 | &nbsp;&nbsp; 821317 |
| New Jersey (State of) Economic Development Authority (Rutgers University); Series 2013, RB | 5.00% | 06/15/2025 | 130 | &nbsp;&nbsp; 130077 |
| &nbsp;&nbsp;&nbsp; New Jersey (State of) Health Care Facilities Financing Authority (Hackensack Meridian Health <br> Obligated Group); Series 2017, Ref. RB<br>| 5.00% | 07/01/2032 | 815 | &nbsp;&nbsp; 834995 |
| &nbsp;&nbsp;&nbsp; New Jersey (State of) Health Care Facilities Financing Authority (Inspira Health Obligated <br> Group); Series 2016, Ref. RB<br>| 5.00% | 07/01/2031 | 5100 | &nbsp;&nbsp; 5164911 |
| &nbsp;&nbsp;&nbsp; New Jersey (State of) Health Care Facilities Financing Authority (RWJ Barnabas Health <br> Obligated Group); Series 2016 A, Ref. RB<br>| 5.00% | 07/01/2031 | 9110 | &nbsp;&nbsp; 9258860 |
| New Jersey (State of) Housing & Mortgage Finance Agency; Series 2024 B, RB | 3.50% | 05/01/2029 | 2625 | &nbsp;&nbsp; 2618529 |
| New Jersey (State of) Housing & Mortgage Finance Agency (Social Bonds); Series 2022 I, RB | 5.00% | 10/01/2053 | 2480 | &nbsp;&nbsp; 2554756 |
| New Jersey (State of) Transportation Trust Fund Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 A-1, RN | 5.00% | 06/15/2028 | 1140 | &nbsp;&nbsp; 1160197 |
| &nbsp;&nbsp;&nbsp; Series 2018 A, Ref. RN | 5.00% | 06/15/2029 | 5000 | &nbsp;&nbsp; 5081497 |
| &nbsp;&nbsp;&nbsp; Series 2018 A, Ref. RN | 5.00% | 06/15/2030 | 2340 | &nbsp;&nbsp; 2375166 |
| &nbsp;&nbsp;&nbsp; Series 2024 A, Ref. RB | 5.00% | 06/15/2036 | 1000 | &nbsp;&nbsp; 1079496 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **New Jersey–(continued)** | **New Jersey–(continued)** | **New Jersey–(continued)** | **New Jersey–(continued)** | **New Jersey–(continued)** |
| New Jersey (State of) Turnpike Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2014 A, RB | 5.00% | 01/01/2027 | $3090 | &nbsp;&nbsp; $3094861 |
| &nbsp;&nbsp;&nbsp; Series 2025, RB | 5.00% | 01/01/2028 | 4000 | &nbsp;&nbsp; 4198120 |
|  |  |  |  | &nbsp;&nbsp; 44423972 |
| **New Mexico–0.93%** | **New Mexico–0.93%** | **New Mexico–0.93%** | **New Mexico–0.93%** | **New Mexico–0.93%** |
| Albuquerque Municipal School District No. 12; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017, GO Bonds | 5.00% | 08/01/2029 | 2575 | &nbsp;&nbsp; 2624835 |
| &nbsp;&nbsp;&nbsp; Series 2017, GO Bonds | 5.00% | 08/01/2031 | 1700 | &nbsp;&nbsp; 1730557 |
| &nbsp;&nbsp;&nbsp; Series 2017, GO Bonds | 5.00% | 08/01/2032 | 2910 | &nbsp;&nbsp; 2959637 |
| Farmington (City of), NM (Public Service Co. of New Mexico San Juan); Series 2010, Ref. RB<sup>(b)</sup> <br>| 3.90% | 06/01/2028 | 3700 | &nbsp;&nbsp; 3728078 |
| New Mexico Mortgage Finance Authority (Mountain View II & III Apartments); Series 2023, RB<sup>(b)</sup> <br>| 5.00% | 09/01/2025 | 3000 | &nbsp;&nbsp; 3010191 |
| Saltillo Public Improvement District; Series 2018, Ref. RB (INS - BAM)<sup>(c)</sup> <br>| 4.00% | 10/01/2025 | 160 | &nbsp;&nbsp; 160379 |
|  |  |  |  | &nbsp;&nbsp; 14213677 |
| **New York–9.25%** | **New York–9.25%** | **New York–9.25%** | **New York–9.25%** | **New York–9.25%** |
| Jamestown City School District; Series 2024, GO Notes | 4.50% | 07/18/2025 | 1400 | &nbsp;&nbsp; 1402163 |
| Metropolitan Transportation Authority; Series 2015 F, Ref. RB | 5.00% | 11/15/2027 | 525 | &nbsp;&nbsp; 527974 |
| Metropolitan Transportation Authority (Green Bonds); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 A2, Ref. RB | 4.00% | 11/15/2025 | 145 | &nbsp;&nbsp; 145440 |
| &nbsp;&nbsp;&nbsp; Series 2017 C-1, Ref. RB | 5.00% | 11/15/2026 | 605 | &nbsp;&nbsp; 620664 |
| &nbsp;&nbsp;&nbsp; Monroe County Industrial Development Corp. (Andrews Terrace Community); Series 2024, <br> RB<sup>(b)</sup> <br>| 5.00% | 07/01/2027 | 5000 | &nbsp;&nbsp; 5180558 |
| Monroe County Industrial Development Corp. (University of Rochester); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. RB | 5.00% | 07/01/2030 | 3275 | &nbsp;&nbsp; 3278303 |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. RB | 5.00% | 07/01/2032 | 2000 | &nbsp;&nbsp; 2001836 |
| &nbsp;&nbsp;&nbsp; Nassau County Local Economic Assistance Corp. (Catholic Health Services of Long Island <br> Obligated Group); Series 2014, RB<br>| 5.00% | 07/01/2032 | 1500 | &nbsp;&nbsp; 1500371 |
| Nassau County Tobacco Settlement Corp.; Series 2006 A-2, RB | 5.25% | 06/01/2026 | 2414 | &nbsp;&nbsp; 2373849 |
| New York & New Jersey (States of) Port Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; One Hundred Ninety Third Series 2015, Ref. RB<sup>(f)</sup> <br>| 5.00% | 10/15/2032 | 2380 | &nbsp;&nbsp; 2384703 |
| &nbsp;&nbsp;&nbsp; One Hundred Seventy Fifth Series 2012, RB | 5.00% | 12/01/2025 | 480 | &nbsp;&nbsp; 480690 |
| &nbsp;&nbsp;&nbsp; One Hundred Seventy Fifth Series 2012, RB | 4.00% | 12/01/2026 | 470 | &nbsp;&nbsp; 470369 |
| New York (City of), NY; Series 2012, VRD GO Bonds<sup>(e)</sup> <br>| 1.60% | 06/11/2025 | 12885 | &nbsp;&nbsp; 12885000 |
| New York (City of), NY Transitional Finance Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 S-2, RB | 5.00% | 07/15/2030 | 3000 | &nbsp;&nbsp; 3004287 |
| &nbsp;&nbsp;&nbsp; Series 2016, RB | 5.00% | 05/01/2032 | 3940 | &nbsp;&nbsp; 3987348 |
| New York (State of) Dormitory Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 B, RB | 5.00% | 03/15/2032 | 5370 | &nbsp;&nbsp; 5390899 |
| &nbsp;&nbsp;&nbsp; Series 2016 D, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 08/15/2026 | 3965 | &nbsp;&nbsp; 4074236 |
| &nbsp;&nbsp;&nbsp; Series 2017 A, Ref. RB | 5.00% | 07/01/2034 | 1410 | &nbsp;&nbsp; 1442956 |
| New York (State of) Dormitory Authority (New York University); Series 2015 A, Ref. RB | 5.00% | 07/01/2035 | 2640 | &nbsp;&nbsp; 2641861 |
| &nbsp;&nbsp;&nbsp; New York (State of) Dormitory Authority (Northwell Health Obligated Group); Series 2025, Ref. <br> RB<br>| 5.00% | 05/01/2034 | 3000 | &nbsp;&nbsp; 3312316 |
| New York (State of) Dormitory Authority (White Plains Hospital Obligated Group); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024, RB | 5.00% | 10/01/2029 | 750 | &nbsp;&nbsp; 787922 |
| &nbsp;&nbsp;&nbsp; Series 2024, RB | 5.00% | 10/01/2030 | 750 | &nbsp;&nbsp; 792578 |
| &nbsp;&nbsp;&nbsp; Series 2024, RB | 5.00% | 10/01/2031 | 1000 | &nbsp;&nbsp; 1061089 |
| &nbsp;&nbsp;&nbsp; Series 2024, RB | 5.00% | 10/01/2033 | 1100 | &nbsp;&nbsp; 1166182 |
| New York (State of) Housing Finance Agency (Green Bonds); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023 E-2, RB<sup>(b)</sup> <br>| 3.80% | 05/01/2027 | 4000 | &nbsp;&nbsp; 4000962 |
| &nbsp;&nbsp;&nbsp; Series 2023 E-2, RB<sup>(b)</sup> <br>| 3.88% | 05/01/2028 | 4380 | &nbsp;&nbsp; 4395954 |
| &nbsp;&nbsp;&nbsp; Series 2024, RB<sup>(b)</sup> <br>| 3.45% | 11/01/2029 | 7200 | &nbsp;&nbsp; 7204725 |
| New York (State of) Utility Debt Securitization Authority; Series 2015, Ref. RB | 5.00% | 12/15/2033 | 8635 | &nbsp;&nbsp; 8686261 |
| New York City Housing Development Corp. (Green Bonds); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021 F-2, RB (CEP - Federal Housing Administration)<sup>(b)</sup> <br>| 0.60% | 07/01/2025 | 885 | &nbsp;&nbsp; 882450 |
| &nbsp;&nbsp;&nbsp; Series 2022 B-2, RB (CEP - Federal Housing Administration)<sup>(b)</sup> <br>| 3.40% | 12/22/2026 | 12495 | &nbsp;&nbsp; 12491836 |
| &nbsp;&nbsp;&nbsp; Series 2022 C-3, VRD RB<sup>(e)</sup> <br>| 1.93% | 06/11/2025 | 5000 | &nbsp;&nbsp; 5000000 |
| New York State Urban Development Corp.; Series 2015 A, Ref. RB | 5.00% | 03/15/2032 | 4235 | &nbsp;&nbsp; 4251847 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **New York–(continued)** | **New York–(continued)** | **New York–(continued)** | **New York–(continued)** | **New York–(continued)** |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy <br> International Airport);<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB<sup>(f)</sup> <br>| 5.00% | 08/01/2026 | $6030 | &nbsp;&nbsp; $6029946 |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB<sup>(f)</sup> <br>| 5.00% | 08/01/2031 | 20070 | &nbsp;&nbsp; 19995035 |
| &nbsp;&nbsp;&nbsp; Series 2020, Ref. RB<sup>(f)</sup> <br>| 5.25% | 08/01/2031 | 8135 | &nbsp;&nbsp; 8311317 |
|  |  |  |  | &nbsp;&nbsp; 142163927 |
| **North Carolina–1.74%** | **North Carolina–1.74%** | **North Carolina–1.74%** | **North Carolina–1.74%** | **North Carolina–1.74%** |
| Charlotte-Mecklenburg Hospital Authority (The) (Atrium Health); Series 2018 E, RB<sup>(b)</sup> <br>| 0.80% | 10/31/2025 | 5000 | &nbsp;&nbsp; 4935736 |
| Charlotte-Mecklenburg Hospital Authority (The) (Carolinas Health Care Systems); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2013 A, Ref. RB | 5.00% | 01/15/2026 | 230 | &nbsp;&nbsp; 230317 |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB | 5.00% | 01/15/2034 | 1500 | &nbsp;&nbsp; 1512988 |
| East Carolina University; Series 2016 A, RB | 5.00% | 10/01/2028 | 1030 | &nbsp;&nbsp; 1043273 |
| North Carolina (State of) (Garvee); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025, Ref. RB | 5.00% | 03/01/2027 | 10000 | &nbsp;&nbsp; 10368957 |
| &nbsp;&nbsp;&nbsp; Series 2025, Ref. RB | 5.00% | 03/01/2028 | 6000 | &nbsp;&nbsp; 6340730 |
| North Carolina (State of) Medical Care Commission; Series 2025, RB | 3.90% | 01/01/2029 | 680 | &nbsp;&nbsp; 680595 |
| North Carolina (State of) Municipal Power Agency No. 1 (Catawba); Series 2015 A, Ref. RB | 5.00% | 01/01/2031 | 1610 | &nbsp;&nbsp; 1622564 |
| University of North Carolina; Series 2008 A, RB (INS - AGI)<sup>(c)</sup> <br>| 4.75% | 10/01/2028 | 10 | &nbsp;&nbsp; 10011 |
|  |  |  |  | &nbsp;&nbsp; 26745171 |
| **North Dakota–0.58%** | **North Dakota–0.58%** | **North Dakota–0.58%** | **North Dakota–0.58%** | **North Dakota–0.58%** |
| Horace (City of), ND; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024 C, Ref. GO Bonds | 5.00% | 05/01/2030 | 520 | &nbsp;&nbsp; 545640 |
| &nbsp;&nbsp;&nbsp; Series 2024 C, Ref. GO Bonds | 5.00% | 05/01/2031 | 550 | &nbsp;&nbsp; 580528 |
| &nbsp;&nbsp;&nbsp; Series 2024 C, Ref. GO Bonds | 5.00% | 05/01/2032 | 580 | &nbsp;&nbsp; 614160 |
| &nbsp;&nbsp;&nbsp; Series 2024 C, Ref. GO Bonds | 5.00% | 05/01/2033 | 610 | &nbsp;&nbsp; 646419 |
| North Dakota (State of) Housing Finance Agency; Series 2015, VRD RB<sup>(e)</sup> <br>| 1.95% | 06/11/2025 | 6540 | &nbsp;&nbsp; 6540000 |
|  |  |  |  | &nbsp;&nbsp; 8926747 |
| **Ohio–2.38%** | **Ohio–2.38%** | **Ohio–2.38%** | **Ohio–2.38%** | **Ohio–2.38%** |
| Columbus (City of) & Franklin (County of), OH Finance Authority (Easton); Series 2023, RB<sup>(b)</sup> <br>| 5.00% | 02/01/2027 | 3000 | &nbsp;&nbsp; 3060673 |
| Columbus (City of), OH; Series 2015, Ref. RB | 5.00% | 06/01/2030 | 1575 | &nbsp;&nbsp; 1600785 |
| Columbus City School District (Construction and Improvement); Series 2016 A, Ref. GO Bonds | 5.00% | 12/01/2031 | 6260 | &nbsp;&nbsp; 6350172 |
| &nbsp;&nbsp;&nbsp; Columbus Regional Airport Authority (John Glenn Columbus International Airport); <br> Series 2025, Ref. RB<br>| 5.00% | 01/01/2036 | 850 | &nbsp;&nbsp; 943577 |
| Cuyahoga (County of), OH (Shaker Square); Series 2010 D, Ref. RB | 5.00% | 12/01/2025 | 145 | &nbsp;&nbsp; 145191 |
| Dayton (City of), OH (James M. Cox); Series 2014 A, Ref. RB (INS - AGI)<sup>(c)(f)</sup> <br>| 5.00% | 12/01/2026 | 1335 | &nbsp;&nbsp; 1335749 |
| Greater Cincinnati (Port of), OH Development Authority (IPS Cincinnati LLC); Series 2021, RB<sup>(b)</sup> <br>| 4.38% | 06/15/2026 | 1500 | &nbsp;&nbsp; 1477838 |
| Hamilton (County of), OH; Series 2016 A, Ref. RB | 5.00% | 12/01/2030 | 3430 | &nbsp;&nbsp; 3509546 |
| Martins Ferry (City of), OH; Series 2024, GO Notes<sup>(d)</sup> <br>| 4.25% | 12/16/2025 | 1200 | &nbsp;&nbsp; 1203772 |
| Ohio (State of) Air Quality Development Authority (Ohio Valley Electrical Corp.); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2009 A, RB | 2.88% | 02/01/2026 | 1440 | &nbsp;&nbsp; 1424544 |
| &nbsp;&nbsp;&nbsp; Series 2009, RB | 2.88% | 02/01/2026 | 4610 | &nbsp;&nbsp; 4560520 |
| &nbsp;&nbsp;&nbsp; Ohio (State of) Higher Educational Facility Commission (University of Dayton 2025); <br> Series 2025, Ref. RB<br>| 5.00% | 02/01/2036 | 780 | &nbsp;&nbsp; 862740 |
| &nbsp;&nbsp;&nbsp; Ohio (State of) Higher Educational Facility Commission (University of Dayton); Series 2018, <br> Ref. RB<br>| 5.00% | 12/01/2035 | 2000 | &nbsp;&nbsp; 2048873 |
| RiverSouth Authority; Series 2007 A, RB | 5.75% | 12/01/2027 | 400 | &nbsp;&nbsp; 400054 |
| Scioto (County of), OH (Southern Ohio Medical Center); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB | 5.00% | 02/15/2032 | 2550 | &nbsp;&nbsp; 2568986 |
| &nbsp;&nbsp;&nbsp; Series 2016, Ref. RB | 5.00% | 02/15/2033 | 2500 | &nbsp;&nbsp; 2517928 |
| Westerville City School District; Series 2018, COP | 5.00% | 12/01/2039 | 2450 | &nbsp;&nbsp; 2505935 |
|  |  |  |  | &nbsp;&nbsp; 36516883 |
| **Oklahoma–0.57%** | **Oklahoma–0.57%** | **Oklahoma–0.57%** | **Oklahoma–0.57%** | **Oklahoma–0.57%** |
| Grand River Dam Authority; Series 2023, RB | 5.00% | 06/01/2037 | 1800 | &nbsp;&nbsp; 1939937 |
| Oklahoma (State of) Capitol Improvement Authority (Capitol Repair); Series 2018 C, RB | 5.00% | 01/01/2038 | 2320 | &nbsp;&nbsp; 2371783 |
| Oklahoma (State of) Development Finance Authority (Sommerset); Series 2015, RB | 5.00% | 07/01/2025 | 420 | &nbsp;&nbsp; 419853 |
| Oklahoma (State of) Turnpike Authority (Senior Bonds); Series 2025 A, RB | 5.00% | 01/01/2036 | 1000 | &nbsp;&nbsp; 1120405 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Oklahoma–(continued)** | **Oklahoma–(continued)** | **Oklahoma–(continued)** | **Oklahoma–(continued)** | **Oklahoma–(continued)** |
| Tulsa County Independent School District No. 4 Bixby; Series 2025, GO Bonds | 5.00% | 06/01/2027 | $1000 | &nbsp;&nbsp; $1034770 |
| Tulsa Municipal Airport Trust Trustees; Series 2025, Ref. RB<sup>(f)</sup> <br>| 6.25% | 12/01/2035 | 1000 | &nbsp;&nbsp; 1094192 |
| University of Oklahoma (The); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2014 C, Ref. RB | 5.00% | 07/01/2027 | 500 | &nbsp;&nbsp; 500507 |
| &nbsp;&nbsp;&nbsp; Series 2014 C, Ref. RB | 5.00% | 07/01/2029 | 250 | &nbsp;&nbsp; 250237 |
|  |  |  |  | &nbsp;&nbsp; 8731684 |
| **Oregon–0.90%** | **Oregon–0.90%** | **Oregon–0.90%** | **Oregon–0.90%** | **Oregon–0.90%** |
| &nbsp;&nbsp;&nbsp; Clackamas & Washington Counties School District No. 3; Series 2015, Ref. GO Bonds (CEP - <br> Oregon School Bond Guaranty)<sup>(a)(b)</sup> <br>| 5.00% | 06/15/2025 | 1250 | &nbsp;&nbsp; 1250856 |
| Morrow (Port of), OR (Bonneville Cooperation Project No. 4); Series 2024 A, GO Bonds<sup>(d)</sup> <br>| 5.15% | 10/01/2026 | 3000 | &nbsp;&nbsp; 3004476 |
| Oregon (State of); Series 2020 J, Ref. VRD GO Bonds<sup>(e)</sup> <br>| 1.45% | 06/04/2025 | 600 | &nbsp;&nbsp; 600000 |
| Oregon (State of) (Article XI-Q State); Series 2016, Ref. GO Bonds | 5.00% | 05/01/2032 | 2885 | &nbsp;&nbsp; 2927737 |
| Oregon Health & Science University; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 B, Ref. RB | 5.00% | 07/01/2033 | 1275 | &nbsp;&nbsp; 1288817 |
| &nbsp;&nbsp;&nbsp; Series 2016 B, Ref. RB | 5.00% | 07/01/2036 | 3270 | &nbsp;&nbsp; 3301638 |
| &nbsp;&nbsp;&nbsp; Series 2016 B, Ref. RB | 5.00% | 07/01/2039 | 1390 | &nbsp;&nbsp; 1399789 |
|  |  |  |  | &nbsp;&nbsp; 13773313 |
| **Pennsylvania–3.53%** | **Pennsylvania–3.53%** | **Pennsylvania–3.53%** | **Pennsylvania–3.53%** | **Pennsylvania–3.53%** |
| &nbsp;&nbsp;&nbsp; Allegheny (County of), PA Higher Education Building Authority (Robert Morris University); <br> Series 2017, RB<br>| 5.00% | 10/15/2026 | 205 | &nbsp;&nbsp; 204514 |
| &nbsp;&nbsp;&nbsp; Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated <br> Group Issue); Series 2018, Ref. RB<br>| 5.00% | 04/01/2033 | 3800 | &nbsp;&nbsp; 3916498 |
| Allegheny (County of), PA Sanitary Authority; Series 2024, Ref. RB | 5.00% | 12/01/2036 | 625 | &nbsp;&nbsp; 682148 |
| &nbsp;&nbsp;&nbsp; Chester (County of), PA Health & Education Facilities Authority (Main Line Health System); <br> Series 2017 A, Ref. RB<br>| 5.00% | 10/01/2035 | 2025 | &nbsp;&nbsp; 2070206 |
| &nbsp;&nbsp;&nbsp; Chester (County of), PA Industrial Development Authority (Renaissance Academy Charter <br> School);<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024, Ref. RB<sup>(d)</sup> <br>| 5.00% | 10/01/2029 | 350 | &nbsp;&nbsp; 364774 |
| &nbsp;&nbsp;&nbsp; Series 2024, Ref. RB<sup>(d)</sup> <br>| 5.00% | 10/01/2034 | 705 | &nbsp;&nbsp; 734120 |
| &nbsp;&nbsp;&nbsp; Montgomery (County of), PA Industrial Development Authority (Constellation Energy <br> Generation, LLC); Series 2023 A, Ref. RB<sup>(b)</sup> <br>| 4.10% | 04/03/2028 | 3000 | &nbsp;&nbsp; 3037679 |
| Pennsylvania (Commonwealth of); First Series 2015, GO Bonds | 5.00% | 03/15/2028 | 1600 | &nbsp;&nbsp; 1602065 |
| Pennsylvania (Commonwealth of) Higher Educational Facilities Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 AT-1, RB | 5.00% | 06/15/2031 | 1965 | &nbsp;&nbsp; 1998629 |
| &nbsp;&nbsp;&nbsp; Series 2016 AT-1, RB<sup>(a)</sup> <br>| 5.00% | 06/15/2031 | 355 | &nbsp;&nbsp; 386875 |
| &nbsp;&nbsp;&nbsp; Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (Thomas Jefferson <br> University); Series 2015 B, VRD RB<sup>(e)</sup> <br>| 2.77% | 06/11/2025 | 10095 | &nbsp;&nbsp; 10095000 |
| &nbsp;&nbsp;&nbsp; Pennsylvania (Commonwealth of) Housing Finance Agency (Social Bonds); Series 2024-145A, <br> RB<br>| 6.00% | 10/01/2054 | 1490 | &nbsp;&nbsp; 1604355 |
| Pennsylvania (Commonwealth of) Turnpike Commission; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. RB | 5.00% | 12/01/2030 | 9990 | &nbsp;&nbsp; 10223571 |
| &nbsp;&nbsp;&nbsp; Series 2023 B, VRD Ref. RB (LOC - Td Bank N.A.)<sup>(e)(h)</sup> <br>| 1.95% | 06/11/2025 | 6650 | &nbsp;&nbsp; 6650000 |
| Philadelphia (City of), PA; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Fourteenth Series 2016, Ref. RB | 5.00% | 10/01/2031 | 3270 | &nbsp;&nbsp; 3334305 |
| &nbsp;&nbsp;&nbsp; Fourteenth Series 2016, Ref. RB | 5.00% | 10/01/2032 | 1400 | &nbsp;&nbsp; 1426982 |
| &nbsp;&nbsp;&nbsp; Series 2015 B, GO Bonds | 5.00% | 08/01/2033 | 4000 | &nbsp;&nbsp; 4008481 |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB | 5.00% | 08/01/2025 | 1170 | &nbsp;&nbsp; 1173192 |
| Washington (County of), PA Redevelopment Authority (Victory Centre); Series 2018, Ref. RB | 5.00% | 07/01/2028 | 785 | &nbsp;&nbsp; 786028 |
|  |  |  |  | &nbsp;&nbsp; 54299422 |
| **Puerto Rico–0.63%** | **Puerto Rico–0.63%** | **Puerto Rico–0.63%** | **Puerto Rico–0.63%** | **Puerto Rico–0.63%** |
| Puerto Rico (Commonwealth of); Series 2021 A-1, GO Bonds | 5.38% | 07/01/2025 | 3660 | &nbsp;&nbsp; 3662958 |
| Puerto Rico (Commonwealth of) Electric Power Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2005 RR, RB (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 07/01/2026 | 100 | &nbsp;&nbsp; 100004 |
| &nbsp;&nbsp;&nbsp; Series 2005 RR, RB (INS - SGI)<sup>(c)</sup> <br>| 5.00% | 07/01/2026 | 3905 | &nbsp;&nbsp; 3905159 |
| &nbsp;&nbsp;&nbsp; Series 2005 RR, RB (INS - SGI)<sup>(c)</sup> <br>| 5.00% | 07/01/2027 | 1505 | &nbsp;&nbsp; 1505107 |
| &nbsp;&nbsp;&nbsp; Series 2008 WW, RB (INS - AGI)<sup>(c)</sup> <br>| 5.25% | 07/01/2033 | 500 | &nbsp;&nbsp; 490141 |
|  |  |  |  | &nbsp;&nbsp; 9663369 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Rhode Island–1.61%** | **Rhode Island–1.61%** | **Rhode Island–1.61%** | **Rhode Island–1.61%** | **Rhode Island–1.61%** |
| Bristol Warren Regional School District; Series 2025, GO Notes | 5.00% | 06/04/2026 | $12400 | &nbsp;&nbsp; $12628161 |
| Rhode Island Health & Educational Building Corp.; Series 2017 G, RB (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 05/15/2039 | 2520 | &nbsp;&nbsp; 2549026 |
| &nbsp;&nbsp;&nbsp; Rhode Island Housing & Mortgage Finance Corp. (Green Bonds); Series 2024 1-A, RB (CEP - <br> Federal Housing Administration)<sup>(b)</sup> <br>| 3.60% | 10/01/2027 | 3000 | &nbsp;&nbsp; 3006487 |
| Tobacco Settlement Financing Corp.; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. RB | 5.00% | 06/01/2026 | 1145 | &nbsp;&nbsp; 1145913 |
| &nbsp;&nbsp;&nbsp; Series 2015 B, Ref. RB | 4.50% | 06/01/2045 | 5385 | &nbsp;&nbsp; 5384690 |
|  |  |  |  | &nbsp;&nbsp; 24714277 |
| **South Carolina–1.52%** | **South Carolina–1.52%** | **South Carolina–1.52%** | **South Carolina–1.52%** | **South Carolina–1.52%** |
| &nbsp;&nbsp;&nbsp; Florence & Darlington (Counties of), SC Commission for Technical Education; Series 2014, Ref. <br> RB<br>| 5.00% | 03/01/2028 | 620 | &nbsp;&nbsp; 620919 |
| Piedmont Municipal Power Agency; Series 2021 C, Ref. RB | 5.00% | 01/01/2032 | 4000 | &nbsp;&nbsp; 4070363 |
| SCAGO Educational Facilities Corp. for Pickens School District; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB | 5.00% | 12/01/2028 | 1800 | &nbsp;&nbsp; 1801789 |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB | 5.00% | 12/01/2030 | 1190 | &nbsp;&nbsp; 1191052 |
| &nbsp;&nbsp;&nbsp; South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & <br> South of Broad Healthcare);<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024, RB | 5.00% | 11/15/2027 | 250 | &nbsp;&nbsp; 256434 |
| &nbsp;&nbsp;&nbsp; Series 2024, RB | 5.00% | 11/15/2028 | 275 | &nbsp;&nbsp; 283880 |
| &nbsp;&nbsp;&nbsp; Series 2024, RB | 5.00% | 11/15/2029 | 250 | &nbsp;&nbsp; 259052 |
| &nbsp;&nbsp;&nbsp; Series 2024, RB | 5.00% | 11/15/2030 | 250 | &nbsp;&nbsp; 259799 |
| &nbsp;&nbsp;&nbsp; Series 2024, RB | 5.00% | 11/15/2031 | 280 | &nbsp;&nbsp; 291250 |
| &nbsp;&nbsp;&nbsp; South Carolina (State of) Jobs-Economic Development Authority (Bon Secours Mercy Health); <br> Series 2025, Ref. RB<sup>(b)</sup> <br>| 5.00% | 11/01/2030 | 3140 | &nbsp;&nbsp; 3311484 |
| South Carolina (State of) Public Service Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. RB | 5.00% | 12/01/2029 | 1885 | &nbsp;&nbsp; 1901150 |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. RB (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 12/01/2032 | 5000 | &nbsp;&nbsp; 5047437 |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. RB | 5.00% | 12/01/2035 | 3000 | &nbsp;&nbsp; 3006644 |
| &nbsp;&nbsp;&nbsp; Series 2025 B, Ref. RB | 5.00% | 12/01/2026 | 1000 | &nbsp;&nbsp; 1028949 |
|  |  |  |  | &nbsp;&nbsp; 23330202 |
| **Tennessee–2.44%** | **Tennessee–2.44%** | **Tennessee–2.44%** | **Tennessee–2.44%** | **Tennessee–2.44%** |
| Metropolitan Nashville Airport Authority (The); Series 2015 B, RB<sup>(f)</sup> <br>| 5.00% | 07/01/2033 | 1550 | &nbsp;&nbsp; 1550346 |
| Tennessee Energy Acquisition Corp.; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2006 C, RB | 5.00% | 02/01/2027 | 1835 | &nbsp;&nbsp; 1860167 |
| &nbsp;&nbsp;&nbsp; Series 2018, RB<sup>(b)</sup> <br>| 4.00% | 11/01/2025 | 19060 | &nbsp;&nbsp; 19069431 |
| Tennessee Energy Acquisition Corp. (Gas); Series 2023 A-1, Ref. RB<sup>(b)</sup> <br>| 5.00% | 05/01/2028 | 7415 | &nbsp;&nbsp; 7594155 |
| Tennessee Housing Development Agency (Social Bonds); Series 2022, RB | 5.50% | 01/01/2053 | 3115 | &nbsp;&nbsp; 3250718 |
| Williamson (County of), TX Industrial Development Board; Series 2023, RB<sup>(b)</sup> <br>| 5.00% | 05/01/2027 | 4125 | &nbsp;&nbsp; 4223060 |
|  |  |  |  | &nbsp;&nbsp; 37547877 |
| **Texas–9.72%** | **Texas–9.72%** | **Texas–9.72%** | **Texas–9.72%** | **Texas–9.72%** |
| Alamo Community College District; Series 2007, GO Bonds (INS - NATL)<sup>(c)</sup> <br>| 4.50% | 08/15/2033 | 590 | &nbsp;&nbsp; 590306 |
| &nbsp;&nbsp;&nbsp; Arlington Higher Education Finance Corp. (Basis Texas Charter Schools, Inc.); Series 2021, <br> RB<sup>(b)(d)</sup> <br>| 4.50% | 06/15/2026 | 1100 | &nbsp;&nbsp; 1093909 |
| Austin (City of), TX; Series 2015 A, Ref. RB | 5.00% | 11/15/2029 | 5600 | &nbsp;&nbsp; 5628748 |
| &nbsp;&nbsp;&nbsp; Austin Independent School District; Series 2017, GO Bonds (CEP - Texas Permanent School <br> Fund)<br>| 5.00% | 08/01/2035 | 1160 | &nbsp;&nbsp; 1178856 |
| Board of Regents of the University of Texas System; Series 2025 A, RB | 5.00% | 08/15/2026 | 2500 | &nbsp;&nbsp; 2564473 |
| &nbsp;&nbsp;&nbsp; Boerne Independent School District; Series 2022, GO Bonds (CEP - Texas Permanent School <br> Fund)<sup>(b)</sup> <br>| 3.85% | 12/01/2027 | 2490 | &nbsp;&nbsp; 2527963 |
| &nbsp;&nbsp;&nbsp; Calhoun (County of), TX Navigation Industrial Development Authority (Max Midstream <br> Texas LLC); Series 2021, RN<sup>(d)(f)</sup> <br>| 3.63% | 07/01/2026 | 2200 | &nbsp;&nbsp; 2105041 |
| Central Texas Regional Mobility Authority; Series 2021 C, RB | 5.00% | 01/01/2027 | 5700 | &nbsp;&nbsp; 5756705 |
| &nbsp;&nbsp;&nbsp; Conroe Independent School District; Series 2016 A, Ref. GO Bonds (CEP - Texas Permanent <br> School Fund)<br>| 5.00% | 02/15/2028 | 7810 | &nbsp;&nbsp; 7925824 |
| Dallas (City of), TX; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. RB | 5.00% | 10/01/2032 | 3835 | &nbsp;&nbsp; 3850794 |
| &nbsp;&nbsp;&nbsp; Series 2017, RB | 5.00% | 10/01/2031 | 1745 | &nbsp;&nbsp; 1807604 |
| &nbsp;&nbsp;&nbsp; Series 2021, Ref. RB | 5.00% | 08/15/2025 | 1330 | &nbsp;&nbsp; 1334280 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Texas–(continued)** | **Texas–(continued)** | **Texas–(continued)** | **Texas–(continued)** | **Texas–(continued)** |
| Dallas (City of), TX (Dallas, Denton, Collin and Rockwall Counties); Series 2016 A, Ref. RB | 5.00% | 10/01/2041 | $1000 | &nbsp;&nbsp; $1012158 |
| &nbsp;&nbsp;&nbsp; Dallas (City of), TX Independent School District; Series 2025 A-1, GO Bonds (CEP - Texas <br> Permanent School Fund)<sup>(b)</sup> <br>| 5.00% | 02/15/2026 | 3560 | &nbsp;&nbsp; 3597111 |
| Dallas College; Series 2022, GO Bonds | 5.00% | 02/15/2035 | 3250 | &nbsp;&nbsp; 3253991 |
| Denton (City of), TX; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017, RB | 5.00% | 12/01/2030 | 1320 | &nbsp;&nbsp; 1349116 |
| &nbsp;&nbsp;&nbsp; Series 2017, RB | 5.00% | 12/01/2035 | 3240 | &nbsp;&nbsp; 3280990 |
| DeSoto Independent School District; Series 2015 B, Ref. GO Bonds (INS - BAM)<sup>(c)</sup> <br>| 5.00% | 08/15/2032 | 2000 | &nbsp;&nbsp; 2005928 |
| El Paso (City of), TX; Series 2016, GO Bonds | 5.00% | 08/15/2034 | 2100 | &nbsp;&nbsp; 2134142 |
| Fort Bend (County of), TX; Series 2025, Ref. RB (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 03/01/2028 | 1000 | &nbsp;&nbsp; 1052340 |
| Friendswood Independent School District; Series 2024, GO Notes | 5.00% | 02/15/2031 | 1500 | &nbsp;&nbsp; 1522140 |
| Garland (City of), TX; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 B, RB | 5.00% | 03/01/2031 | 1000 | &nbsp;&nbsp; 1010693 |
| &nbsp;&nbsp;&nbsp; Series 2016 B, RB | 5.00% | 03/01/2033 | 1000 | &nbsp;&nbsp; 1008602 |
| &nbsp;&nbsp;&nbsp; Series 2016 B, RB | 5.00% | 03/01/2034 | 1000 | &nbsp;&nbsp; 1007397 |
| &nbsp;&nbsp;&nbsp; Grand Prairie Independent School District; Series 2011, Ref. GO Bonds (CEP - Texas Permanent <br> School Fund)<br>| 4.00% | 02/15/2026 | 675 | &nbsp;&nbsp; 675317 |
| Gulf Coast Authority (Bayport Area System); Series 2015, RB (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 10/01/2031 | 1410 | &nbsp;&nbsp; 1417612 |
| &nbsp;&nbsp;&nbsp; Harris & Montgomery (Counties of), TX Municipal Utility District No. 386; Series 2014, GO <br> Bonds (INS - AGI)<sup>(c)</sup> <br>| 4.00% | 09/01/2030 | 620 | &nbsp;&nbsp; 620223 |
| Harris (County of), TX; Series 2016 A, Ref. RB | 5.00% | 08/15/2034 | 1685 | &nbsp;&nbsp; 1710342 |
| &nbsp;&nbsp;&nbsp; Harris County Cultural Education Facilities Finance Corp. (Memorial Hermann Health System); <br> Series 2016, RB<br>| 5.00% | 07/01/2038 | 1605 | &nbsp;&nbsp; 1615786 |
| Harris County Cultural Education Facilities Finance Corp. (Teco Project); Series 2017, Ref. RB | 5.00% | 11/15/2033 | 3675 | &nbsp;&nbsp; 3770843 |
| &nbsp;&nbsp;&nbsp; Highland Park Independent School District; Series 2018, GO Bonds (CEP - Texas Permanent <br> School Fund)<br>| 5.25% | 02/15/2026 | 1145 | &nbsp;&nbsp; 1164433 |
| &nbsp;&nbsp;&nbsp; Houston (City of), TX Convention & Entertainment Facilities Department; Series 2001 B, RB <br> (INS - AGI)<sup>(c)(g)</sup> <br>| 0.00% | 09/01/2025 | 4650 | &nbsp;&nbsp; 4609511 |
| &nbsp;&nbsp;&nbsp; Humble Independent School District; Series 2015 A, Ref. GO Bonds (CEP - Texas Permanent <br> School Fund)<sup>(a)(b)</sup> <br>| 4.00% | 06/23/2025 | 9595 | &nbsp;&nbsp; 9600398 |
| &nbsp;&nbsp;&nbsp; La Vernia(City of), TX independent school District; Series 2025, GO Bonds (CEP - Texas <br> Permanent School Fund)<sup>(j)</sup> <br>| 5.00% | 02/15/2030 | 1000 | &nbsp;&nbsp; 1082810 |
| &nbsp;&nbsp;&nbsp; Lamar Consolidated Independent School District; Series 2018, GO Bonds (CEP - Texas <br> Permanent School Fund)<br>| 5.00% | 02/15/2043 | 1000 | &nbsp;&nbsp; 1006684 |
| Leander Independent School District; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. GO Bonds (CEP - Texas Permanent School Fund)<sup>(a)(b)</sup> <br>| 5.00% | 08/15/2025 | 3000 | &nbsp;&nbsp; 3010829 |
| &nbsp;&nbsp;&nbsp; Series 2025 A, Ref. GO Bonds (CEP - Texas Permanent School Fund)<sup>(g)</sup> <br>| 0.00% | 08/15/2026 | 800 | &nbsp;&nbsp; 769043 |
| &nbsp;&nbsp;&nbsp; Series 2025 B, Ref. GO Bonds<sup>(g)</sup> <br>| 0.00% | 08/15/2026 | 1400 | &nbsp;&nbsp; 1344264 |
| Lewisville Independent School District; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 B, Ref. GO Bonds | 5.00% | 08/15/2028 | 1000 | &nbsp;&nbsp; 1003618 |
| &nbsp;&nbsp;&nbsp; Series 2025, GO Bonds (CEP - Texas Permanent School Fund) | 5.00% | 08/15/2027 | 2000 | &nbsp;&nbsp; 2088927 |
| &nbsp;&nbsp;&nbsp; Series 2025, GO Bonds (CEP - Texas Permanent School Fund) | 5.00% | 08/15/2028 | 2250 | &nbsp;&nbsp; 2393381 |
| &nbsp;&nbsp;&nbsp; Lovejoy Independent School District; Series 2016, Ref. GO Bonds (CEP - Texas Permanent <br> School Fund)<br>| 5.00% | 02/15/2033 | 2665 | &nbsp;&nbsp; 2694277 |
| Lower Colorado River Authority (LCRA Transmission Services Corp.); Series 2025, Ref. RB | 5.00% | 05/15/2026 | 1000 | &nbsp;&nbsp; 1018128 |
| Lubbock (City of), TX; Series 2025, RB | 5.00% | 02/15/2036 | 1160 | &nbsp;&nbsp; 1289658 |
| Mission Economic Development Corp. (Natgasoline); Series 2018, Ref. RB<sup>(d)(f)</sup> <br>| 4.63% | 10/01/2031 | 1000 | &nbsp;&nbsp; 998907 |
| Mueller Local Government Corp.; Series 2009, RB | 4.25% | 09/01/2029 | 30 | &nbsp;&nbsp; 30019 |
| &nbsp;&nbsp;&nbsp; North East Independent School District; Series 2015, Ref. GO Bonds (CEP - Texas Permanent <br> School Fund)<br>| 5.00% | 08/01/2031 | 2355 | &nbsp;&nbsp; 2361675 |
| North Harris (County of), TX Regional Water Authority; Series 2013, Ref. RB (INS - BAM)<sup>(c)</sup> <br>| 5.00% | 12/15/2030 | 205 | &nbsp;&nbsp; 205226 |
| North Texas Municipal Water District; Series 2015, Ref. RB | 5.00% | 09/01/2034 | 5000 | &nbsp;&nbsp; 5015010 |
| North Texas Tollway Authority; Series 2016 A, Ref. RB | 5.00% | 01/01/2031 | 1000 | &nbsp;&nbsp; 1009533 |
| Pecos Barstow Toyah Independent School District; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023, GO Bonds (CEP - Texas Permanent School Fund) | 5.00% | 02/15/2038 | 1350 | &nbsp;&nbsp; 1358647 |
| &nbsp;&nbsp;&nbsp; Series 2023, GO Bonds (CEP - Texas Permanent School Fund) | 5.00% | 02/15/2040 | 1885 | &nbsp;&nbsp; 1893692 |
| Permanent University Fund - University of Texas System; Series 2025 A, Ref. RB | 5.00% | 07/01/2036 | 6695 | &nbsp;&nbsp; 7561889 |
| Plano (City of), TX; Series 2023, Ref. GO Bonds | 5.00% | 09/01/2036 | 3370 | &nbsp;&nbsp; 3690240 |
| &nbsp;&nbsp;&nbsp; San Antonio Independent School District; Series 2016, Ref. GO Bonds (CEP - Texas Permanent <br> School Fund)<br>| 5.00% | 08/15/2031 | 1615 | &nbsp;&nbsp; 1647704 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Texas–(continued)** | **Texas–(continued)** | **Texas–(continued)** | **Texas–(continued)** | **Texas–(continued)** |
| Tarrant (County of), TX Regional Water District; Series 2015, Ref. RB | 5.00% | 03/01/2028 | $1055 | &nbsp;&nbsp; $1056429 |
| &nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facilities Finance Corp. (Baylor Scott & White Health); <br> Series 2016, Ref. RB<br>| 5.00% | 11/15/2032 | 1020 | &nbsp;&nbsp; 1033382 |
| &nbsp;&nbsp;&nbsp; Texas (State of) Water Development Board (State Water Implementation Fund); Series 2015 A, <br> RB<br>| 5.00% | 10/15/2031 | 2875 | &nbsp;&nbsp; 2890092 |
| &nbsp;&nbsp;&nbsp; Texas Municipal Gas Acquisition & Supply Corp. II; Series 2007, RB (SIFMA Municipal Swap <br> Index + 0.55%)<sup>(j)</sup> <br>| 2.52% | 09/15/2027 | 8715 | &nbsp;&nbsp; 8656963 |
| University of Houston; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017 A, Ref. RB | 5.00% | 02/15/2033 | 2275 | &nbsp;&nbsp; 2298884 |
| &nbsp;&nbsp;&nbsp; Series 2017 A, Ref. RB | 5.00% | 02/15/2034 | 5000 | &nbsp;&nbsp; 5050057 |
| West Travis County Public Utility Agency; Series 2017, Ref. RB (INS - BAM)<sup>(c)</sup> <br>| 5.00% | 08/15/2030 | 45 | &nbsp;&nbsp; 46678 |
| Wink-Loving Independent School District; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024, GO Bonds (CEP - Texas Permanent School Fund) | 5.00% | 02/15/2029 | 500 | &nbsp;&nbsp; 501809 |
| &nbsp;&nbsp;&nbsp; Series 2024, GO Bonds (CEP - Texas Permanent School Fund) | 5.00% | 02/15/2032 | 700 | &nbsp;&nbsp; 702346 |
|  |  |  |  | &nbsp;&nbsp; 149494377 |
| **Utah–0.22%** | **Utah–0.22%** | **Utah–0.22%** | **Utah–0.22%** | **Utah–0.22%** |
| Grand (County of), UT School District Local Building Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2019, RB (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 12/15/2030 | 1370 | &nbsp;&nbsp; 1381038 |
| &nbsp;&nbsp;&nbsp; Series 2019, RB (INS - AGI)<sup>(c)</sup> <br>| 5.00% | 12/15/2038 | 2040 | &nbsp;&nbsp; 2050169 |
|  |  |  |  | &nbsp;&nbsp; 3431207 |
| **Virginia–0.12%** | **Virginia–0.12%** | **Virginia–0.12%** | **Virginia–0.12%** | **Virginia–0.12%** |
| &nbsp;&nbsp;&nbsp; Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay); <br> Series 2023 B-3, RB<br>| 5.38% | 09/01/2029 | 1850 | &nbsp;&nbsp; 1865293 |
| **Washington–3.92%** | **Washington–3.92%** | **Washington–3.92%** | **Washington–3.92%** | **Washington–3.92%** |
| Central Puget Sound Regional Transit Authority; Series 1999, RB (INS - NATL)<sup>(c)</sup> <br>| 4.75% | 02/01/2028 | 940 | &nbsp;&nbsp; 942434 |
| Discovery Clean Water Alliance; Series 2022, RB | 5.00% | 12/01/2025 | 1210 | &nbsp;&nbsp; 1221534 |
| Energy Northwest; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 C, Ref. RB<sup>(a)</sup> <br>| 5.00% | 07/01/2025 | 1295 | &nbsp;&nbsp; 1296877 |
| &nbsp;&nbsp;&nbsp; Series 2025 A, Ref. RB | 5.00% | 07/01/2027 | 5000 | &nbsp;&nbsp; 5225774 |
| Energy Northwest (Columbia Generating Station); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 A, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 07/01/2025 | 1275 | &nbsp;&nbsp; 1276848 |
| &nbsp;&nbsp;&nbsp; Series 2015 C, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 07/01/2025 | 1385 | &nbsp;&nbsp; 1387008 |
| &nbsp;&nbsp;&nbsp; Series 2015, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 07/01/2025 | 2265 | &nbsp;&nbsp; 2268283 |
| Grant (County of), WA Public Utility District No. 2; Series 2023 U, Ref. RB | 4.00% | 01/01/2026 | 5725 | &nbsp;&nbsp; 5749150 |
| Kelso (City of), WA Housing Authority (Chinook & Columbia Apartments); Series 1998, RB | 5.60% | 03/01/2028 | 10 | &nbsp;&nbsp; 10000 |
| &nbsp;&nbsp;&nbsp; King County School District No. 401 Highline; Series 2025, GO Bonds (CEP - Oregon School <br> Bond Guaranty)<br>| 5.00% | 12/01/2036 | 700 | &nbsp;&nbsp; 782755 |
| &nbsp;&nbsp;&nbsp; King County School District No. 411 Issaquah; Series 2017, GO Bonds (CEP - Oregon School <br> Bond Guaranty)<br>| 5.00% | 12/01/2032 | 1035 | &nbsp;&nbsp; 1056117 |
| Lewis (County of), WA Public Utility District No. 1; Series 2013, Ref. RB | 5.25% | 04/01/2032 | 5000 | &nbsp;&nbsp; 5020300 |
| Seattle (Port of), WA; Series 2017, GO Bonds | 5.00% | 01/01/2036 | 4000 | &nbsp;&nbsp; 4073251 |
| University of Washington; Series 2015 B, Ref. RB<sup>(a)(b)</sup> <br>| 5.00% | 06/01/2025 | 1010 | &nbsp;&nbsp; 1010000 |
| Washington (State of); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015 A-1, GO Bonds<sup>(a)(b)</sup> <br>| 5.00% | 08/01/2025 | 10000 | &nbsp;&nbsp; 10029941 |
| &nbsp;&nbsp;&nbsp; Series 2016 B, GO Bonds | 5.00% | 08/01/2031 | 1205 | &nbsp;&nbsp; 1228598 |
| &nbsp;&nbsp;&nbsp; Series 2016 C, GO Bonds | 5.00% | 02/01/2034 | 2760 | &nbsp;&nbsp; 2786669 |
| Washington (State of) Health Care Facilities Authority; Series 2015 B, Ref. RB | 5.00% | 10/01/2038 | 1745 | &nbsp;&nbsp; 1746995 |
| &nbsp;&nbsp;&nbsp; Washington (State of) Health Care Facilities Authority (Multicare Health System); Series 2015 <br> B, Ref. RB<br>| 5.00% | 08/15/2031 | 2505 | &nbsp;&nbsp; 2504845 |
| Washington (State of) Health Care Facilities Authority (Providence Health & Services); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2012 A, RB | 5.00% | 10/01/2025 | 125 | &nbsp;&nbsp; 125072 |
| &nbsp;&nbsp;&nbsp; Series 2012 A, RB | 5.00% | 10/01/2026 | 2540 | &nbsp;&nbsp; 2541627 |
| &nbsp;&nbsp;&nbsp; Series 2012 A, RB | 5.00% | 10/01/2027 | 2415 | &nbsp;&nbsp; 2420173 |
| &nbsp;&nbsp;&nbsp; Series 2012 A, RB | 5.00% | 10/01/2028 | 165 | &nbsp;&nbsp; 165302 |
| &nbsp;&nbsp;&nbsp; Series 2012 A, RB | 4.25% | 10/01/2040 | 2800 | &nbsp;&nbsp; 2651062 |
| Washington State University; Series 2025, Ref. RB | 5.00% | 04/01/2035 | 2490 | &nbsp;&nbsp; 2801018 |
|  |  |  |  | &nbsp;&nbsp; 60321633 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **West Virginia–0.07%** | **West Virginia–0.07%** | **West Virginia–0.07%** | **West Virginia–0.07%** | **West Virginia–0.07%** | **West Virginia–0.07%** |
| &nbsp;&nbsp;&nbsp; West Virginia (State of) Hospital Finance Authority (West Virginia University Health System <br> Obligated Group); Series 2017, RB<br>| 5.00% | 06/01/2035 |  | $1100 | &nbsp;&nbsp; $1118690 |
| **Wisconsin–2.94%** | **Wisconsin–2.94%** | **Wisconsin–2.94%** | **Wisconsin–2.94%** | **Wisconsin–2.94%** | **Wisconsin–2.94%** |
| Central Brown (County of), WI Water Authority; Series 2024 A, Ref. RB | 5.00% | 11/01/2026 |  | 1455 | &nbsp;&nbsp; 1491603 |
| Wisconsin (State of); Series 2017 A, RB<sup>(a)(b)</sup> <br>| 5.00% | 06/01/2025 |  | 1110 | &nbsp;&nbsp; 1110000 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Health & Educational Facilities Authority (Ascension Health Credit Group); <br> Series 2016 A, Ref. RB<br>| 5.00% | 11/15/2039 |  | 1350 | &nbsp;&nbsp; 1354080 |
| Wisconsin (State of) Health & Educational Facilities Authority (Aspirus, Inc. Obligated Group); |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2013, RB | 5.00% | 08/15/2026 |  | 100 | &nbsp;&nbsp; 100216 |
| &nbsp;&nbsp;&nbsp; Series 2013, RB | 5.00% | 08/15/2027 |  | 800 | &nbsp;&nbsp; 801657 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Health & Educational Facilities Authority (Forensic Science and Protective <br> Medicine Facility); Series 2024, RB<sup>(d)</sup> <br>| 5.00% | 08/01/2027 |  | 6770 | &nbsp;&nbsp; 6867015 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Health & Educational Facilities Authority (Hospital Sisters Services, Inc.); <br> Series 2014, Ref. RB<br>| 5.00% | 11/15/2029 |  | 1800 | &nbsp;&nbsp; 1801642 |
| Wisconsin (State of) Health & Educational Facilities Authority (Mercy Alliance); Series 2012, RB | 5.00% | 06/01/2027 |  | 3225 | &nbsp;&nbsp; 3233563 |
| Wisconsin (State of) Health & Educational Facilities Authority (Unitypoint Health); |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2014 A, RB | 5.00% | 12/01/2028 |  | 980 | &nbsp;&nbsp; 981910 |
| &nbsp;&nbsp;&nbsp; Series 2014 A, RB | 5.00% | 12/01/2029 |  | 1475 | &nbsp;&nbsp; 1477827 |
| Wisconsin (State of) Housing & Economic Development Authority; Series 2023 E, RB<sup>(b)</sup> <br>| 3.88% | 05/01/2027 |  | 4400 | &nbsp;&nbsp; 4411900 |
| Wisconsin (State of) Public Finance Authority; Series 2015 A, RB<sup>(a)(b)(d)</sup> <br>| 5.50% | 06/15/2025 |  | 6000 | &nbsp;&nbsp; 6004843 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (Cincinnati Classical Academy); Series 2024, <br> RB<sup>(d)</sup> <br>| 5.25% | 06/15/2035 |  | 1070 | &nbsp;&nbsp; 1051969 |
| Wisconsin (State of) Public Finance Authority (Duke Energy Progress); Series 2022, Ref. RB<sup>(b)</sup> <br>| 3.30% | 10/01/2026 |  | 1745 | &nbsp;&nbsp; 1727455 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (KU Campus Development Corp. - Central District <br> Development);<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016, RB | 5.00% | 03/01/2030 |  | 2375 | &nbsp;&nbsp; 2400440 |
| &nbsp;&nbsp;&nbsp; Series 2016, RB | 5.00% | 03/01/2032 |  | 4315 | &nbsp;&nbsp; 4356758 |
| &nbsp;&nbsp;&nbsp; Series 2016, RB | 5.00% | 03/01/2035 |  | 2000 | &nbsp;&nbsp; 2016554 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.); Series 2018 <br> A, RB<br>| 5.00% | 12/01/2027 |  | 660 | &nbsp;&nbsp; 669110 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (Renown Regional Medical Center); Series 2015 <br> A, Ref. RB<br>| 5.00% | 06/01/2031 |  | 3295 | &nbsp;&nbsp; 3296152 |
|  |  |  |  |  | &nbsp;&nbsp; 45154694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations (Cost $1,500,306,393) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations (Cost $1,500,306,393) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations (Cost $1,500,306,393) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations (Cost $1,500,306,393) |  | &nbsp;&nbsp; 1500037178 |
|  |  |  | **Shares** | **Shares** |  |
| **MuniFund Preferred Shares–1.23%** | **MuniFund Preferred Shares–1.23%** | **MuniFund Preferred Shares–1.23%** | **MuniFund Preferred Shares–1.23%** | **MuniFund Preferred Shares–1.23%** | **MuniFund Preferred Shares–1.23%** |
| &nbsp;&nbsp;&nbsp; Nuveen AMT-Free Quality Municipal Income Fund, MFP, Series D<sup>(d)(e)</sup> <br>|  |  |  | 10000000 | &nbsp;&nbsp; 10000000 |
| &nbsp;&nbsp;&nbsp; Nuveen AMT-Free Quality Municipal Income Fund<sup>(d)(e)</sup> <br>|  |  |  | 8880000 | &nbsp;&nbsp; 8880000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total MuniFund Preferred Shares (Cost $18,880,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total MuniFund Preferred Shares (Cost $18,880,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total MuniFund Preferred Shares (Cost $18,880,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total MuniFund Preferred Shares (Cost $18,880,000) |  | &nbsp;&nbsp; 18880000 |
| **Exchange-Traded Funds–0.05%** | **Exchange-Traded Funds–0.05%** | **Exchange-Traded Funds–0.05%** | **Exchange-Traded Funds–0.05%** | **Exchange-Traded Funds–0.05%** | **Exchange-Traded Funds–0.05%** |
| &nbsp;&nbsp;&nbsp; Invesco Rochester High Yield Municipal ETF <br>(Cost $872,950)<sup>(k)</sup> <br>|  |  |  | 17000 | &nbsp;&nbsp; 851618 |
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** |  |
| **U.S. Dollar Denominated Bonds & Notes–0.00%** | **U.S. Dollar Denominated Bonds & Notes–0.00%** | **U.S. Dollar Denominated Bonds & Notes–0.00%** | **U.S. Dollar Denominated Bonds & Notes–0.00%** | **U.S. Dollar Denominated Bonds & Notes–0.00%** | **U.S. Dollar Denominated Bonds & Notes–0.00%** |
| **California–0.00%** | **California–0.00%** | **California–0.00%** | **California–0.00%** | **California–0.00%** | **California–0.00%** |
| &nbsp;&nbsp;&nbsp; CalPlant I LLC; Exit Facility <br>(Cost $75,000)<sup>(d)(l)</sup> <br>| 15.00% | 07/01/2025 |  | $75 | &nbsp;&nbsp; 14716 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(m)</sup>–98.86% (Cost $1,520,134,343) | TOTAL INVESTMENTS IN SECURITIES<sup>(m)</sup>–98.86% (Cost $1,520,134,343) | TOTAL INVESTMENTS IN SECURITIES<sup>(m)</sup>–98.86% (Cost $1,520,134,343) | TOTAL INVESTMENTS IN SECURITIES<sup>(m)</sup>–98.86% (Cost $1,520,134,343) |  | &nbsp;&nbsp; 1519783512 |
| OTHER ASSETS LESS LIABILITIES–1.14% | OTHER ASSETS LESS LIABILITIES–1.14% | OTHER ASSETS LESS LIABILITIES–1.14% | OTHER ASSETS LESS LIABILITIES–1.14% |  | &nbsp;&nbsp; 17507165 |
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% |  | &nbsp;&nbsp; $1537290677 |

---

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

Investment Abbreviations:

---

| | |
|:---|:---|
| AGI | – Assured Guaranty Inc. |
| AMBAC | – American Municipal Bond Assurance Corp. |
| BAM | – Build America Mutual Assurance Co. |
| CEP | – Credit Enhancement Provider |
| COP | – Certificates of Participation |
| Ctfs. | – Certificates |
| ETF | – Exchange-Traded Fund |
| FHLMC | – Federal Home Loan Mortgage Corp. |
| GNMA | – Government National Mortgage Association |
| GO | – General Obligation |
| INS | – Insurer |
| LOC | – Letter of Credit |
| MFP | – MuniFund Preferred Shares |
| NATL | – National Public Finance Guarantee Corp. |
| RB | – Revenue Bonds |
| Ref. | – Refunding |
| RN | – Revenue Notes |
| SGI | – Syncora Guarantee, Inc. |
| SIFMA | – Securities Industry and Financial Markets Association |
| SOFR | – Secured Overnight Financing Rate |
| VRD | – Variable Rate Demand |
| Wts. | – Warrants |

---

Notes to Schedule of Investments:

<sup>(a)</sup> Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral.

<sup>(b)</sup> Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put.

<sup>(c)</sup> Principal and/or interest payments are secured by the bond insurance company listed.

<sup>(d)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at May 31, 2025 was $88,871,750, which represented 5.78% of the Fund's Net Assets. 

<sup>(e)</sup> Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on May 31, 2025. 

<sup>(f)</sup> Security subject to the alternative minimum tax.

<sup>(g)</sup> Zero coupon bond issued at a discount.

<sup>(h)</sup> Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

<sup>(i)</sup> Restricted security. The aggregate value of these securities at May 31, 2025 was $603,000, which represented less than 1% of the Fund's Net Assets.

<sup>(j)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on May 31, 2025.

<sup>(k)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended May 31, 2025. 

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**May 31, 2025**<br>| **Dividend Income** |
| Invesco Rochester High Yield Municipal ETF\* | $873372 | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $(21754) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $851618 | &nbsp;&nbsp; $27151 |

---

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

\* Effective February 24, 2025, the underlying fund's name changed.

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

<sup>(l)</sup> Security valued using significant unobservable inputs (Level 3). See Note 1.

<sup>(m)</sup> Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer's obligations but may be called upon to satisfy issuer's obligations. No concentration of any single entity was greater than 5% each. 

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

**Invesco Short Term Municipal Fund**

------

**Notes to Quarterly Schedule of Portfolio Holdings**

*May 31, 2025*

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 – Prices are determined using quoted prices in an active market for identical assets.

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Advisers, Inc.'s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of May 31, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| Municipal Obligations | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1500037178 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1500037178 |
| MuniFund Preferred Shares | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18880000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18880000 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 851618 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 851618 |
| U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14716 | &nbsp;&nbsp;&nbsp;&nbsp; 14716 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; 851618 | &nbsp;&nbsp;&nbsp;&nbsp; 1518917178 | &nbsp;&nbsp;&nbsp;&nbsp; 14716 | &nbsp;&nbsp;&nbsp;&nbsp; 1519783512 |
| **Other Investments - Assets** |  |  |  |  |
| Investments Matured | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 4905 | &nbsp;&nbsp;&nbsp;&nbsp; 4911 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $851618 | &nbsp;&nbsp;&nbsp;&nbsp; $1518917184 | &nbsp;&nbsp;&nbsp;&nbsp; $19621 | &nbsp;&nbsp;&nbsp;&nbsp; $1519788423 |

---

**Invesco Short Term Municipal Fund**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** AIM Counselor Series Trust (Invesco Counselor Series Trust)

- **b. Investment Company Act file number:** 811-09913

- **c. CIK number of Registrant:** 0001112996

- **d. LEI of Registrant:** LZYC3CZ7P12IRF1LLV60

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

  - **Street Address 1:** 11 Greenway Plaza

  - **City:** Houston

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 77046-1173

  - **Telephone number:** 800-959-4246

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

- **a. Name of Series:** Invesco Short Term Municipal Fund

- **b. EDGAR series identifier (if any):** S000064614

- **c. LEI of Series:** 549300ETHGNJGGEEV863

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $1578656445.17

**Total Liabilities:** $45451103.82

**Net Assets:** $1533205341.35

**Delayed Delivery Securities:** $40676695.10

**Cash Not Reported:** $40686604.59

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -10978.72913552 | **1-Year:** -70761.95554039 | **5-Year:** -84321.94850669 | **10-Year:** -152526.22852520 | **30-Year:** -56211.34783724

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

- **3-Month:** -802.98338839 | **1-Year:** -4153.12199446 | **5-Year:** -6979.87202664 | **10-Year:** -6336.29258765 | **30-Year:** -1413.65822590

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000209156 | -0.01%               | -0.01%               | 0.26%                |
| Class ID C000209154 | 0.01%                | 0.01%                | 0.28%                |
| Class ID C000209155 | 0.02%                | 0.02%                | 0.29%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $100721.30               | $-6147721.45                               |
| Month 2  | $-585266.38              | $-3876803.39                               |
| Month 3  | $-202378.78              | $1429385.03                                |

**Designated Index Information**

- **Index Name:** Bloomberg Barclays Municipal 1 Yr (1-2) Index

- **Index Identifier:** 100% BB-Muni 1Y

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare) | South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare), Series 2024, RB | CUSIP: 83704HAB3<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    275000 | PA      | $283880.14    | 0.02%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denton (City of), TX                                                                                                   | Denton (City of), TX, Series 2017, RB                                                                                                   | CUSIP: 249015C48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1349116.30   | 0.09%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Health & Educational Facilities Authority (Ascension Health Credit Group)                         | Wisconsin (State of) Health & Educational Facilities Authority (Ascension Health Credit Group), Series 2016 A, Ref. RB                  | CUSIP: 97712DQV1<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1354079.97   | 0.09%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority                                                                         | Washington Metropolitan Area Transit Authority, Series 2017, RB                                                                         | CUSIP: 938782FE4<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1391797.83   | 0.09%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority                                                                                  | Illinois (State of) Finance Authority, Series 2016 A, Ref. RB                                                                           | CUSIP: 45204EHV3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2016896.80   | 0.13%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami-Dade (County of), FL Transit System                                                                              | Miami-Dade (County of), FL Transit System, Series 2015, Ref. RB                                                                         | CUSIP: 59334PFM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2210000 | PA      | $2213154.33   | 0.14%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County School District No. 411 Issaquah                                                                           | King County School District No. 411 Issaquah, Series 2017, GO Bonds                                                                     | CUSIP: 4952243S4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1056116.48   | 0.07%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Leander Independent School District                                                                                    | Leander Independent School District, Series 2025, GO Bonds                                                                              | CUSIP: 521841T22<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1344263.90   | 0.09%             | 2026-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Dormitory Authority                                                                                | New York (State of) Dormitory Authority, Series 2016 D, Ref. RB                                                                         | CUSIP: 64990E4W4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3965000 | PA      | $4074235.75   | 0.27%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Madison-Macoupin Etc Counties Community College District No. 536                                                       | Madison-Macoupin Etc Counties Community College District No. 536, Series 2015 A, Ref. GO Bonds                                          | CUSIP: 557738MX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1336627.63   | 0.09%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority (Mountain View II & III Apartments)                                              | New Mexico Mortgage Finance Authority (Mountain View II & III Apartments), Series 2023, RB                                              | CUSIP: 64719HEN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3010190.70   | 0.20%             | 2025-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (City of), NY Transitional Finance Authority                                                                  | New York (City of), NY Transitional Finance Authority, Series 2015 S-2, RB                                                              | CUSIP: 64972HWU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3004286.70   | 0.20%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of) Health & Educational Facilities Authority                                              | Massachusetts (Commonwealth of) Health & Educational Facilities Authority, Series 2007 C, RB                                            | CUSIP: 57586CXY6<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |   2155000 | PA      | $2077182.09   | 0.14%             | 2032-11-15      | Floating      | 2.87%                 | No            |                  2 | On Loan: No      |
| Kentucky (Commonwealth of) Municipal Power Agency                                                                      | Kentucky (Commonwealth of) Municipal Power Agency, Series 2015 A, Ref. RB                                                               | CUSIP: 491501DX7<br>LEI: 2549001MTI3IE05Z7959 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2006650.00   | 0.13%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp. (University of Rochester)                                                   | Monroe County Industrial Development Corp. (University of Rochester), Series 2015 A, Ref. RB                                            | CUSIP: 61075TMA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3275000 | PA      | $3278302.84   | 0.21%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp. II                                                                      | Texas Municipal Gas Acquisition & Supply Corp. II, Series 2007, RB                                                                      | CUSIP: 88255QAE9<br>LEI: 8E22IH4TQD26WYDGHB25 | Long             | DBT              | MUN               | US        |   8715000 | PA      | $8656963.33   | 0.56%             | 2027-09-15      | Floating      | 2.52%                 | No            |                  2 | On Loan: No      |
| Clark (County of), NV                                                                                                  | Clark (County of), NV, Series 2015, RB                                                                                                  | CUSIP: 181000NU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1777755.96   | 0.12%             | 2025-08-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Omaha School District                                                                                                  | Omaha School District, Series 2016, GO Bonds                                                                                            | CUSIP: 259291NH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5122776.50   | 0.33%             | 2032-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                                                                   | District of Columbia, Series 2012, RB                                                                                                   | CUSIP: 25483VKJ2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100147.26    | 0.01%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp.                                                                                     | Tobacco Settlement Financing Corp., Series 2015 A, Ref. RB                                                                              | CUSIP: 888809AY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1145912.68   | 0.07%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky (Commonwealth of) Public Energy Authority                                                                     | Kentucky (Commonwealth of) Public Energy Authority, Series 2019 A-1, RB                                                                 | CUSIP: 74440DCC6<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.33%             | 2025-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Allegheny (County of), PA Sanitary Authority                                                                           | Allegheny (County of), PA Sanitary Authority, Series 2024, Ref. RB                                                                      | CUSIP: 017357Q56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $682148.25    | 0.04%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Collinsville (City of), IL Area Recreation District                                                                    | Collinsville (City of), IL Area Recreation District, Series 2007, Ref. GO Bonds                                                         | CUSIP: 195063DF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $64992.43     | 0.00%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nuveen AMT-Free Quality Municipal Income Fund                                                                          | Nuveen AMT-Free Quality Municipal Income Fund                                                                                           | CUSIP: 670657774<br>LEI: 549300OTYQOOXS64NI63 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10000000.00  | 0.65%             | 2025-06-06      | Variable      | 2.42%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                                          | Main Street Natural Gas, Inc., Series 2021 A, RB                                                                                        | CUSIP: 56035DDH2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   5120000 | PA      | $5118801.41   | 0.33%             | 2027-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Montgomery (County of), PA Industrial Development Authority (Constellation Energy Generation, LLC)                     | Montgomery (County of), PA Industrial Development Authority (Constellation Energy Generation, LLC), Series 2023 A, Ref. RB              | CUSIP: 61361TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3037679.40   | 0.20%             | 2028-04-03      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| New York (State of) Housing Finance Agency (Green Bonds)                                                               | New York (State of) Housing Finance Agency (Green Bonds), Series 2024, RB                                                               | CUSIP: 64987JU33<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   7200000 | PA      | $7204724.64   | 0.47%             | 2029-11-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| Jamestown City School District                                                                                         | Jamestown City School District, Series 2024, GO Notes                                                                                   | CUSIP: 470592QL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1402163.28   | 0.09%             | 2025-07-18      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Board of Governors of Florida Atlantic University                                                                      | Board of Governors of Florida Atlantic University, Series 2016 A, Ref. RB                                                               | CUSIP: 341568BQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015196.90   | 0.07%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                                                     | Tennessee Energy Acquisition Corp., Series 2018, RB                                                                                     | CUSIP: 880443JE7<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |  19060000 | PA      | $19069430.89  | 1.24%             | 2025-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp. (Memorial Hermann Health System)                             | Harris County Cultural Education Facilities Finance Corp. (Memorial Hermann Health System), Series 2016, RB                             | CUSIP: 414009KN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1615786.24   | 0.11%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan (State of) Finance Authority (Trinity Health Credit Group)                                                    | Michigan (State of) Finance Authority (Trinity Health Credit Group), Series 2015, Ref. RB                                               | CUSIP: 59447P7P0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   3075000 | PA      | $3080091.59   | 0.20%             | 2029-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California (State of)                                                                                                  | California (State of), Series 2014, Ref. GO Bonds                                                                                       | CUSIP: 13063EEU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $145184.48    | 0.01%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Rockport IN                                                                                                    | City of Rockport IN, Series 2025, RB                                                                                                    | CUSIP: 773835BY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4989619.50   | 0.33%             | 2029-06-01      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| Idaho (State of) Housing & Finance Association                                                                         | Idaho (State of) Housing & Finance Association, Series 2024 A, RB                                                                       | CUSIP: 45129Y5K8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1817366.98   | 0.12%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds)                                | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2023, RB                                | CUSIP: 13013JDG8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2945000 | PA      | $3090563.10   | 0.20%             | 2030-04-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Broward (County of), FL School Board                                                                                   | Broward (County of), FL School Board, Series 2015 B, Ref. COP                                                                           | CUSIP: 115065YJ7<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   6640000 | PA      | $6652294.62   | 0.43%             | 2025-07-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fulton (County of), GA                                                                                                 | Fulton (County of), GA, Series 2013, Ref. RB                                                                                            | CUSIP: 360066NL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1612622.79   | 0.11%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL (O'Hare International Airport)                                                                   | Chicago (City of), IL (O'Hare International Airport), Series 2016 C, Ref. RB                                                            | CUSIP: 167593VV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3009588.90   | 0.20%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (KU Campus Development Corp. -Central District Development)              | Wisconsin (State of) Public Finance Authority (KU Campus Development Corp. -Central District Development), Series 2016, RB              | CUSIP: 74444YAT1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2016553.80   | 0.13%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp.                                                                                     | Tobacco Settlement Financing Corp., Series 2015 B, Ref. RB                                                                              | CUSIP: 888809BF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5385000 | PA      | $5384689.82   | 0.35%             | 2045-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| University of Arizona Board of Regents                                                                                 | University of Arizona Board of Regents, Series 2016 C, RB                                                                               | CUSIP: 04048RRB4<br>LEI: 254900BLZ1MCZ5JLK411 | Long             | DBT              | MUN               | US        |   1060000 | PA      | $1073843.28   | 0.07%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wyandotte (County of) & Kansas City (City of), KS Unified Government                                                   | Wyandotte (County of) & Kansas City (City of), KS Unified Government, Series 2016 C, RB                                                 | CUSIP: 982674MA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020707.30   | 0.07%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grant (County of), WA Public Utility District No. 2                                                                    | Grant (County of), WA Public Utility District No. 2, Series 2023 U, Ref. RB                                                             | CUSIP: 387874YX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5725000 | PA      | $5749150.34   | 0.37%             | 2026-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arizona (State of) Game & Fish Department & Commission (AGF Administration Building)                                   | Arizona (State of) Game & Fish Department & Commission (AGF Administration Building), Series 2006, RB                                   | CUSIP: 04051JAZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $105111.36    | 0.01%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami-Dade (County of), FL                                                                                             | Miami-Dade (County of), FL, Series 2014, RB                                                                                             | CUSIP: 59335LAT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1160874.87   | 0.08%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Dormitory Authority                                                                                | New York (State of) Dormitory Authority, Series 2017 A, Ref. RB                                                                         | CUSIP: 64990CVH1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1442955.65   | 0.09%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Health & Educational Facilities Authority (Mercy Alliance)                                        | Wisconsin (State of) Health & Educational Facilities Authority (Mercy Alliance), Series 2012, RB                                        | CUSIP: 97710BW57<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   3225000 | PA      | $3233563.34   | 0.21%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Travis County Public Utility Agency                                                                               | West Travis County Public Utility Agency, Series 2017, Ref. RB                                                                          | CUSIP: 95632CDK2<br>LEI: 549300O1CP7CFGPMMX97 | Long             | DBT              | MUN               | US        |     45000 | PA      | $46677.88     | 0.00%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Health & Educational Facilities Authority (Unitypoint Health)                                     | Wisconsin (State of) Health & Educational Facilities Authority (Unitypoint Health), Series 2014 A, RB                                   | CUSIP: 97670FBD2<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    980000 | PA      | $981909.53    | 0.06%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota (State of) Governmental Agency Finance Group (Flexible Term Program)                                         | Minnesota (State of) Governmental Agency Finance Group (Flexible Term Program), Series 2007 A-1, RB                                     | CUSIP: 60403PEG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10000.67     | 0.00%             | 2027-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| San Antonio Independent School District                                                                                | San Antonio Independent School District, Series 2016, Ref. GO Bonds                                                                     | CUSIP: 796269WS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1647704.40   | 0.11%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Imperial Irrigation District                                                                                           | Imperial Irrigation District, Series 2012 A, Ref. RB                                                                                    | CUSIP: 452650ES9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225338.58    | 0.01%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of North Carolina                                                                                                | State of North Carolina, Series 2025, RB                                                                                                | CUSIP: 658268EZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6340729.80   | 0.41%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan State University                                                                                              | Michigan State University, Series 2025, RB                                                                                              | CUSIP: 594712ZP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2385000 | PA      | $2559628.03   | 0.17%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia (City of), PA                                                                                             | Philadelphia (City of), PA, Fourteenth Series 2016, Ref. RB                                                                             | CUSIP: 7178238K7<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1426981.92   | 0.09%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Dormitory Authority (White Plains Hospital Obligated Group)                                        | New York (State of) Dormitory Authority (White Plains Hospital Obligated Group), Series 2024, RB                                        | CUSIP: 65000B7F9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    750000 | PA      | $787922.18    | 0.05%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tulsa County Independent School District No 4 Bixby                                                                    | Tulsa County Independent School District No 4 Bixby, Series 2025, GO Bonds                                                              | CUSIP: 899576HE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034769.70   | 0.07%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut (State of) Health & Educational Facilities Authority (Hartford Healthcare)                                 | Connecticut (State of) Health & Educational Facilities Authority (Hartford Healthcare), Series 2014 E, RB                               | CUSIP: 20774YQD2<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125138.23    | 0.01%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                                                                     | New York State Dormitory Authority, Series 2025, RB                                                                                     | CUSIP: 65000B6W3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3312316.20   | 0.22%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina                                                                                           | University of North Carolina, Series 2008 A, RB                                                                                         | CUSIP: 9147208Q3<br>LEI: 5493004DU2QADMVXVR58 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10011.47     | 0.00%             | 2028-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Toll Highway Authority                                                                             | Illinois (State of) Toll Highway Authority, Series 2016 A, Ref. RB                                                                      | CUSIP: 452252LG2<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   9115000 | PA      | $9181648.88   | 0.60%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris (County of), TX                                                                                                 | Harris (County of), TX, Series 2016 A, Ref. RB                                                                                          | CUSIP: 414005WP9<br>LEI: 549300G9BRP25M0W1S40 | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1710342.23   | 0.11%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mission Economic Development Corp. (Natgasoline)                                                                       | Mission Economic Development Corp. (Natgasoline), Series 2018, Ref. RB                                                                  | CUSIP: 605156AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998907.40    | 0.07%             | 2031-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Metropolitan Nashville Airport Authority (The)                                                                         | Metropolitan Nashville Airport Authority (The), Series 2015 B, RB                                                                       | CUSIP: 592190MN9<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1550346.43   | 0.10%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi (State of)                                                                                                 | Mississippi (State of), Series 2015 C, Ref. GO Bonds                                                                                    | CUSIP: 605581FQ5<br>LEI: 549300JRWW5RFQUB7P94 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1510187.40   | 0.10%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Economic Development Authority (Rutgers University)                                              | New Jersey (State of) Economic Development Authority (Rutgers University), Series 2013, RB                                              | CUSIP: 64577FBT1<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    130000 | PA      | $130077.04    | 0.01%             | 2025-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Aurora (City of), CO                                                                                                   | Aurora (City of), CO, Series 2024, RB                                                                                                   | CUSIP: 051595CH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504740.75   | 0.10%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Plano (City of), TX                                                                                                    | Plano (City of), TX, Series 2023, Ref. GO Bonds                                                                                         | CUSIP: 727177D61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3370000 | PA      | $3690239.98   | 0.24%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan (State of) Building Authority (Facilities Program)                                                            | Michigan (State of) Building Authority (Facilities Program), Series 2015 I, Ref. RB                                                     | CUSIP: 594615JG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2343398.90   | 0.15%             | 2030-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Garland (City of), TX                                                                                                  | Garland (City of), TX, Series 2016 B, RB                                                                                                | CUSIP: 366133LA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007396.90   | 0.07%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kendall, Kane & Will (Counties of), IL Community Unit School District No. 308                                          | Kendall, Kane & Will (Counties of), IL Community Unit School District No. 308, Series 2016, Ref. GO Bonds                               | CUSIP: 488764XF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3017389.20   | 0.20%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Health Care Facilities Authority (Providence Health & Services)                                  | Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB                                | CUSIP: 93978HFP5<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   2540000 | PA      | $2541626.87   | 0.17%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grundy Kendall & Will Counties Community High School District No. 111 (Minooka)                                        | Grundy Kendall & Will Counties Community High School District No. 111 (Minooka), Series 2025, GO Bonds                                  | CUSIP: 400424MS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $712111.86    | 0.05%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nevada (State of) (Casa Grande)                                                                                        | Nevada (State of) (Casa Grande), Series 2024, COP                                                                                       | CUSIP: 641486EG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1048339.05   | 0.07%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| USF Financing Corp.                                                                                                    | USF Financing Corp., Series 2012 A, Ref. COP                                                                                            | CUSIP: 90341UDN9<br>LEI: 549300P9Y92T23EMUI42 | Long             | DBT              | MUN               | US        |   4550000 | PA      | $4555273.91   | 0.30%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Housing & Mortgage Finance Agency                                                                | New Jersey (State of) Housing & Mortgage Finance Agency, Series 2024 B, RB                                                              | CUSIP: 6461084N7<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2618529.38   | 0.17%             | 2029-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp.                                                                                    | Maryland Economic Development Corp., Series 2025, RB                                                                                    | CUSIP: 57421HAB9<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   2155000 | PA      | $2103714.88   | 0.14%             | 2035-03-27      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne State University                                                                                                 | Wayne State University, Series 2018 A, RB                                                                                               | CUSIP: 946303ZS6<br>LEI: 549300GWQMQVAS66E613 | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2233289.36   | 0.15%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Texas Municipal Water District Water System Revenue                                                              | North Texas Municipal Water District Water System Revenue, Series 2015, RB                                                              | CUSIP: 662903PZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5015009.50   | 0.33%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Humble Independent School District                                                                                     | Humble Independent School District, Series 2015 A, Ref. GO Bonds                                                                        | CUSIP: 445047CX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9595000 | PA      | $9600398.15   | 0.63%             | 2025-06-23      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Health & Educational Facilities Authority (Forensic Science and Protective Medicine Facility)     | Wisconsin (State of) Health & Educational Facilities Authority (Forensic Science and Protective Medicine Facility), Series 2024, RB     | CUSIP: 97712JHF3<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   6770000 | PA      | $6867015.45   | 0.45%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp. (Green Bonds)                                                                  | New York City Housing Development Corp. (Green Bonds), Series 2021 F-2, RB                                                              | CUSIP: 64972EYZ6<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    885000 | PA      | $882449.78    | 0.06%             | 2025-07-01      | Variable      | 0.60%                 | No            |                  2 | On Loan: No      |
| Clackamas & Washington Counties School District No. 3                                                                  | Clackamas & Washington Counties School District No. 3, Series 2015, Ref. GO Bonds                                                       | CUSIP: 178882MB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1250856.00   | 0.08%             | 2025-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon Health & Science University                                                                                     | Oregon Health & Science University, Series 2016 B, Ref. RB                                                                              | CUSIP: 685869EN5<br>LEI: 549300XTWOAGON8L2G98 | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1399789.21   | 0.09%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut (State of) (Transportation Infrastructure)                                                                 | Connecticut (State of) (Transportation Infrastructure), Series 2015 A, RB                                                               | CUSIP: 207758UA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3007347.90   | 0.20%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern California Tobacco Securitization Authority                                                                   | Northern California Tobacco Securitization Authority, Series 2021 B-1, Ref. RB                                                          | CUSIP: 888794BZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $547795.53    | 0.04%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Las Vegas Valley Water District                                                                                        | Las Vegas Valley Water District, Series 2016 B, Ref. GO Bonds                                                                           | CUSIP: 517845BV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2805000 | PA      | $2836608.98   | 0.19%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Infrastructure & Economic Development Bank (Brightline West Passenger Rail) (Green Bonds)        | California (State of) Infrastructure & Economic Development Bank (Brightline West Passenger Rail) (Green Bonds), Series 2025 B, Ref. RB | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1938543.40   | 0.13%             | 2035-01-01      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| Wink-Loving Independent School District                                                                                | Wink-Loving Independent School District, Series 2024, GO Bonds                                                                          | CUSIP: 974170ES7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $702345.91    | 0.05%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Muskegon Heights (City of), MI                                                                                         | Muskegon Heights (City of), MI, Series 2006, Ref. RB                                                                                    | CUSIP: 627763FE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $184781.79    | 0.01%             | 2026-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma (State of) Turnpike Authority (Senior Bonds)                                                                  | Oklahoma (State of) Turnpike Authority (Senior Bonds), Series 2025 A, RB                                                                | CUSIP: 679111D43<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1120405.10   | 0.07%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Burke (County of), GA Development Authority (The) (Georgia Power Co. Plant Vogtle)                                     | Burke (County of), GA Development Authority (The) (Georgia Power Co. Plant Vogtle), Series 2012, Ref. RB                                | CUSIP: 121342QD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4988573.50   | 0.33%             | 2025-08-19      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| California (State of)                                                                                                  | California (State of), Series 2013, Ref. GO Bonds                                                                                       | CUSIP: 13063D4X3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5008.10      | 0.00%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania (Commonwealth of) Higher Educational Facilities Authority                                                 | Pennsylvania (Commonwealth of) Higher Educational Facilities Authority, Series 2016 AT-1, RB                                            | CUSIP: 70917TNE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $386874.81    | 0.03%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana (State of) Municipal Power Agency                                                                              | Indiana (State of) Municipal Power Agency, Series 2025 A, Ref. RB                                                                       | CUSIP: 454898YC5<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011303.70   | 0.07%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio (State of) Higher Educational Facility Commission (University of Dayton 2025)                                     | Ohio (State of) Higher Educational Facility Commission (University of Dayton 2025), Series 2025, Ref. RB                                | CUSIP: 67756DV78<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    780000 | PA      | $862740.06    | 0.06%             | 2036-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kane McHenry Cook & De Kalb Counties Unit School District No. 300                                                      | Kane McHenry Cook & De Kalb Counties Unit School District No. 300, Series 2015, Ref. GO Bonds                                           | CUSIP: 484080SL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001258.90   | 0.07%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clark (County of), NV                                                                                                  | Clark (County of), NV, Series 2015 A, Ref. GO Bonds                                                                                     | CUSIP: 180848NZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2128446.33   | 0.14%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maricopa (County of), AZ Industrial Development Authority (Banner Health Obligated Group)                              | Maricopa (County of), AZ Industrial Development Authority (Banner Health Obligated Group), Series 2016, Ref. RB                         | CUSIP: 56682HBZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2205000 | PA      | $2246119.72   | 0.15%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp. (Green Bonds)                                                                  | New York City Housing Development Corp. (Green Bonds), Series 2022 B-2, RB                                                              | CUSIP: 64972E3F4<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |  12495000 | PA      | $12491836.27  | 0.81%             | 2026-12-22      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| San Jose (City of), CA                                                                                                 | San Jose (City of), CA, Series 2017 B, Ref. RB                                                                                          | CUSIP: 798136WR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3730000 | PA      | $3757469.59   | 0.25%             | 2042-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado (State of) Health Facilities Authority (Aberdeen Ridge)                                                       | Colorado (State of) Health Facilities Authority (Aberdeen Ridge), Series 2021 B, RB                                                     | CUSIP: 19648FTM6<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969749.70    | 0.06%             | 2028-05-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Osceola (County of), FL                                                                                                | Osceola (County of), FL, Series 2016 A, Ref. RB                                                                                         | CUSIP: 687909FE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004680.80   | 0.07%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport)              | New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2016, Ref. RB         | CUSIP: 650116BP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20070000 | PA      | $19995034.54  | 1.30%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas College                                                                                                         | Dallas College, Series 2022, GO Bonds                                                                                                   | CUSIP: 234685MM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3253990.68   | 0.21%             | 2035-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Camden (County of), NJ Improvement Authority (The) (County Capital Program)                                            | Camden (County of), NJ Improvement Authority (The) (County Capital Program), Series 2024, RB                                            | CUSIP: 13281RAF0<br>LEI: 549300UTQBT9ZE0QFB15 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4048136.00   | 0.26%             | 2026-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Westpark Community Facility District                                                                                   | Westpark Community Facility District, Series 2016, Ref. GO Bonds                                                                        | CUSIP: 96122EAT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $339802.63    | 0.02%             | 2025-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Health Care Facilities Authority (Multicare Health System)                                       | Washington (State of) Health Care Facilities Authority (Multicare Health System), Series 2015 B, Ref. RB                                | CUSIP: 93978HPA7<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   2505000 | PA      | $2504845.19   | 0.16%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri (State of) Health & Educational Facilities Authority (St. Anthony's Medical Center)                           | Missouri (State of) Health & Educational Facilities Authority (St. Anthony's Medical Center), Series 2015 B, Ref. RB                    | CUSIP: 60637AJW3<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   6245000 | PA      | $6248538.42   | 0.41%             | 2036-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Unified School District                                                                                     | Long Beach Unified School District, Series 2012, Ref. GO Bonds                                                                          | CUSIP: 542433NT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100360.40    | 0.01%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Health Care Facilities Authority (Providence Health & Services)                                  | Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB                                | CUSIP: 93978HGC3<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2651062.12   | 0.17%             | 2040-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Yuma (City of), AZ Industrial Development Authority (Yuma Regional Medical Center)                                     | Yuma (City of), AZ Industrial Development Authority (Yuma Regional Medical Center), Series 2024, Ref. RB                                | CUSIP: 988514CR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $544221.60    | 0.04%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp. (Green Bonds)                                                                  | New York City Housing Development Corp. (Green Bonds), Series 2022 C-3, VRD RB                                                          | CUSIP: 64972ET25<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.33%             | 2025-06-06      | Variable      | 1.93%                 | No            |                  2 | On Loan: No      |
| Illinois (State of)                                                                                                    | Illinois (State of), Series 2016, GO Bonds                                                                                              | CUSIP: 452152A43<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3510000 | PA      | $3542502.25   | 0.23%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                                                        | Indianapolis Local Public Improvement Bond Bank, Series 2015, Ref. RB                                                                   | CUSIP: 45528URV5<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3254443.73   | 0.21%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County School District No. 401 Highline                                                                           | King County School District No. 401 Highline, Series 2025, GO Bonds                                                                     | CUSIP: 495033GX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $782755.26    | 0.05%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Truckee Meadows Water Authority                                                                                        | Truckee Meadows Water Authority, Series 2016, Ref. RB                                                                                   | CUSIP: 897825GP4<br>LEI: 549300GC367BYY1WT202 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2032282.80   | 0.13%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Union High School District No 210-Phoenix                                                              | Maricopa County Union High School District No 210-Phoenix, Series 2025, GO Bonds                                                        | CUSIP: 567505SL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045154.80   | 0.07%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare) | South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare), Series 2024, RB | CUSIP: 83704HAA5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    250000 | PA      | $256433.88    | 0.02%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina (State of) Public Service Authority                                                                     | South Carolina (State of) Public Service Authority, Series 2016 A, Ref. RB                                                              | CUSIP: 837151Y29<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5047437.50   | 0.33%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wichita (City of), KS (Presbyterian Manors, Inc.)                                                                      | Wichita (City of), KS (Presbyterian Manors, Inc.), Series 2024 VIII, Ref. RB                                                            | CUSIP: 967249RL9<br>LEI: 549300Y20JVN3VP2V718 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $964764.20    | 0.06%             | 2039-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay)                                        | Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay), Series 2023 B-3, RB                                    | CUSIP: 92774NBF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1865292.84   | 0.12%             | 2029-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Oklahoma (State of) Capitol Improvement Authority (Capitol Repair)                                                     | Oklahoma (State of) Capitol Improvement Authority (Capitol Repair), Series 2018 C, RB                                                   | CUSIP: 679088GN8<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |   2320000 | PA      | $2371782.63   | 0.15%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Permanent University Fund - University of Texas System                                                                 | Permanent University Fund - University of Texas System, Series 2025, RB                                                                 | CUSIP: 915130BZ0<br>LEI: 549300GZUEUTLKVGLF98 | Long             | DBT              | MUN               | US        |   6695000 | PA      | $7561889.35   | 0.49%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Weld County School District No. Re-1                                                                                   | Weld County School District No. Re-1, Series 2017, GO Bonds                                                                             | CUSIP: 949238DA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1534344.00   | 0.10%             | 2031-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Rosalind Franklin University)                                                   | Illinois (State of) Finance Authority (Rosalind Franklin University), Series 2017, Ref. RB                                              | CUSIP: 45204EUT3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    425000 | PA      | $437146.08    | 0.03%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare) | South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare), Series 2024, RB | CUSIP: 83704HAC1<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    250000 | PA      | $259051.93    | 0.02%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami-Dade (County of), FL Expressway Authority                                                                        | Miami-Dade (County of), FL Expressway Authority, Series 2010 A, RB                                                                      | CUSIP: 59334KFW3<br>LEI: 549300NSQPQSO55VM780 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9999598.00   | 0.65%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Honolulu HI                                                                                           | City & County of Honolulu HI, Series 2015, GO Bonds                                                                                     | CUSIP: 438670Z20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1756860.00   | 0.11%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Peninsula Corridor Joint Powers Board                                                                                  | Peninsula Corridor Joint Powers Board, Series 2019 A, Ref. RB                                                                           | CUSIP: 707120CQ2<br>LEI: 549300EWZ3063STMF882 | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1293043.71   | 0.08%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Texas Regional Mobility Authority                                                                              | Central Texas Regional Mobility Authority, Series 2021 C, RB                                                                            | CUSIP: 155498LY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5700000 | PA      | $5756704.74   | 0.38%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Municipal Power Agency                                                                                         | Florida Municipal Power Agency, Series 2016, RB                                                                                         | CUSIP: 342816H99<br>LEI: 549300M3I10QJUPNU131 | Long             | DBT              | MUN               | US        |   2385000 | PA      | $2436901.65   | 0.16%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (KU Campus Development Corp. -Central District Development)              | Wisconsin (State of) Public Finance Authority (KU Campus Development Corp. -Central District Development), Series 2016, RB              | CUSIP: 74444YAQ7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   4315000 | PA      | $4356757.98   | 0.28%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas (City of), TX                                                                                                   | Dallas (City of), TX, Series 2021, Ref. RB                                                                                              | CUSIP: 235286AD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1334279.67   | 0.09%             | 2025-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Health Care Facilities Financing Authority (Inspira Health Obligated Group)                      | New Jersey (State of) Health Care Facilities Financing Authority (Inspira Health Obligated Group), Series 2016, Ref. RB                 | CUSIP: 645790BD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5100000 | PA      | $5164911.27   | 0.34%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dayton (City of), OH (James M. Cox)                                                                                    | Dayton (City of), OH (James M. Cox), Series 2014 A, Ref. RB                                                                             | CUSIP: 239835HE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1335748.80   | 0.09%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District (The) (No. 5)                                                                           | Black Belt Energy Gas District (The) (No. 5), Series 2020 A-1, RB                                                                       | CUSIP: 09182RBE0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5008444.50   | 0.33%             | 2026-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana (State of) Municipal Power Agency                                                                              | Indiana (State of) Municipal Power Agency, Series 2016 C, Ref. RB                                                                       | CUSIP: 454898UP0<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007902.10   | 0.07%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                                                                     | Greater Orlando Aviation Authority, Series 2016 B, RB                                                                                   | CUSIP: 392275CW1<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |    210000 | PA      | $215703.89    | 0.01%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| L'Anse Creuse Public Schools                                                                                           | L'Anse Creuse Public Schools, Series 2025 I, GO Bonds                                                                                   | CUSIP: 516228TB9<br>LEI: 549300L3W88HP5QUMY54 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1118008.70   | 0.07%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne (County of), MI Airport Authority (Detroit Michigan Wayne County Airport)                                        | Wayne (County of), MI Airport Authority (Detroit Michigan Wayne County Airport), Series 2015 D, RB                                      | CUSIP: 944514SP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1704591.87   | 0.11%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nassau County Local Economic Assistance Corp. (Catholic Health Services of Long Island Obligated Group)                | Nassau County Local Economic Assistance Corp. (Catholic Health Services of Long Island Obligated Group), Series 2014, RB                | CUSIP: 63166LCX7<br>LEI: 549300FCI13UFG0Y6Y37 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500371.10   | 0.10%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Calhoun (County of), TX Navigation Industrial Development Authority (Max Midstream Texas LLC)                          | Calhoun (County of), TX Navigation Industrial Development Authority (Max Midstream Texas LLC), Series 2021, RN                          | CUSIP: 129729AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2105040.96   | 0.14%             | 2026-07-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| South Carolina (State of) Public Service Authority                                                                     | South Carolina (State of) Public Service Authority, Series 2016 A, Ref. RB                                                              | CUSIP: 837151PK9<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1885000 | PA      | $1901150.11   | 0.12%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of) Electric Power Authority                                                                 | Puerto Rico (Commonwealth of) Electric Power Authority, Series 2008 WW, RB                                                              | CUSIP: 74526QVL3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    500000 | PA      | $490141.05    | 0.03%             | 2033-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Denver City & County School District No. 1                                                                             | Denver City & County School District No. 1, Series 2025 A, GO Bonds                                                                     | CUSIP: 249174YW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1699842.30   | 0.11%             | 2036-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Central Florida Expressway Authority                                                                                   | Central Florida Expressway Authority, Series 2017, Ref. RB                                                                              | CUSIP: 153476CZ7<br>LEI: 549300JL23Z3Z64M6K65 | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1563978.19   | 0.10%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami (City of) & Dade (County of), FL School Board (The)                                                              | Miami (City of) & Dade (County of), FL School Board (The), Series 2015 D, Ref. COP                                                      | CUSIP: 59333MU60<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2237807.06   | 0.15%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Florida Expressway Authority                                                                                   | Central Florida Expressway Authority, Series 2016 B, Ref. RB                                                                            | CUSIP: 153476BN5<br>LEI: 549300JL23Z3Z64M6K65 | Long             | DBT              | MUN               | US        |   3005000 | PA      | $3070915.28   | 0.20%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas (City of), TX (Dallas, Denton, Collin and Rockwall Counties)                                                    | Dallas (City of), TX (Dallas, Denton, Collin and Rockwall Counties), Series 2016 A, Ref. RB                                             | CUSIP: 23542JBA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012158.00   | 0.07%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEA Water & Sewer System                                                                                               | JEA Water & Sewer System, Series 2025 A, Ref. RB                                                                                        | CUSIP: 46615SFR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1812091.68   | 0.12%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Phoenix Civic Improvement Corp.                                                                                        | Phoenix Civic Improvement Corp., Series 2016, Ref. RB                                                                                   | CUSIP: 71883PKR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1521021.90   | 0.10%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Regional Transportation Authority                                                                  | Illinois (State of) Regional Transportation Authority, Series 2004 A, RB                                                                | CUSIP: 759911ZR4<br>LEI: 549300FOIPI62F5YFO59 | Long             | DBT              | MUN               | US        |   2930000 | PA      | $2930000.00   | 0.19%             | 2025-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Philadelphia (City of), PA                                                                                             | Philadelphia (City of), PA, Fourteenth Series 2016, Ref. RB                                                                             | CUSIP: 7178238J0<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   3270000 | PA      | $3334305.20   | 0.22%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California (State of)                                                                                                  | California (State of), Series 2012, Ref. GO Bonds                                                                                       | CUSIP: 13063DW61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10014.69     | 0.00%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Phoenix Civic Improvement Corp.                                                                                        | Phoenix Civic Improvement Corp., Series 2017, Ref. RB                                                                                   | CUSIP: 71883RPN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5145000 | PA      | $5200211.51   | 0.34%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DuPage County Forest Preserve District                                                                                 | DuPage County Forest Preserve District, Series 2025, GO Bonds                                                                           | CUSIP: 262651VG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027394.40   | 0.07%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado (State of) Regional Transportation District (Fastracks)                                                       | Colorado (State of) Regional Transportation District (Fastracks), Series 2017 A, RB                                                     | CUSIP: 759136UA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010109.10   | 0.07%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westerville City School District                                                                                       | Westerville City School District, Series 2018, COP                                                                                      | CUSIP: 960030AX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2505934.73   | 0.16%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Advocate Health Care Network)                                                   | Illinois (State of) Finance Authority (Advocate Health Care Network), Series 2014, Ref. RB                                              | CUSIP: 45203HD74<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1506327.86   | 0.10%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEA Electric System                                                                                                    | JEA Electric System, Series 2017 B, Ref. RB                                                                                             | CUSIP: 46613SGM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4126512.80   | 0.27%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St. Paul (City of), MN Housing & Redevelopment Authority (St. Paul City School)                                        | St. Paul (City of), MN Housing & Redevelopment Authority (St. Paul City School), Series 2016 A, Ref. RB                                 | CUSIP: 852297BS8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    175000 | PA      | $176330.11    | 0.01%             | 2026-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| West Virginia (State of) Hospital Finance Authority (West Virginia University Health System Obligated Group)           | West Virginia (State of) Hospital Finance Authority (West Virginia University Health System Obligated Group), Series 2017, RB           | CUSIP: 956622N34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1118690.32   | 0.07%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State University                                                                                            | Washington State University, Series 2025, Ref. RB                                                                                       | CUSIP: 940094FQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2490000 | PA      | $2801017.93   | 0.18%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Dormitory Authority                                                                                | New York (State of) Dormitory Authority, Series 2015 B, RB                                                                              | CUSIP: 64990AEA9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   5370000 | PA      | $5390898.97   | 0.35%             | 2032-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Horace (City of), ND                                                                                                   | Horace (City of), ND, Series 2024 C, Ref. GO Bonds                                                                                      | CUSIP: 440365JL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $646418.71    | 0.04%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough (County of), FL Aviation Authority (Tampa International Airport)                                          | Hillsborough (County of), FL Aviation Authority (Tampa International Airport), Series 2018 F, RB                                        | CUSIP: 432308K52<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1315913.72   | 0.09%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clark (County of), NV Water Reclamation District                                                                       | Clark (County of), NV Water Reclamation District, Series 2015, Ref. GO Bonds                                                            | CUSIP: 181070DW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2002115.60   | 0.13%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District (The)                                                                                   | Black Belt Energy Gas District (The), Series 2024 A, RB                                                                                 | CUSIP: 09182TDL8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1671398.83   | 0.11%             | 2032-09-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co.                                                                                             | Philadelphia Gas Works Co., Series 2015, RB                                                                                             | CUSIP: 7178237H5<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1173191.99   | 0.08%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Fort Bend TX Toll Road Revenue                                                                               | County of Fort Bend TX Toll Road Revenue, Series 2025, RB                                                                               | CUSIP: 346817EX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1052340.00   | 0.07%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania (Commonwealth of)                                                                                         | Pennsylvania (Commonwealth of), First Series 2015, GO Bonds                                                                             | CUSIP: 70914PXB3<br>LEI: 549300WICSGUHKHF1T85 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1602064.96   | 0.10%             | 2028-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami-Dade (County of), FL Expressway Authority                                                                        | Miami-Dade (County of), FL Expressway Authority, Series 2016 A, Ref. RB                                                                 | CUSIP: 593338AW6<br>LEI: 549300NSQPQSO55VM780 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2025520.00   | 0.13%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan (State of) Building Authority (Facilities Program)                                                            | Michigan (State of) Building Authority (Facilities Program), Series 2015 I, Ref. RB                                                     | CUSIP: 594615JH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1573360.23   | 0.10%             | 2031-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Lutheran Communities Obligated Group)                                           | Illinois (State of) Finance Authority (Lutheran Communities Obligated Group), Series 2019 A, Ref. RB                                    | CUSIP: 45204E5Y0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    460000 | PA      | $308200.00    | 0.02%             | 2026-11-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Broward (County of), FL School Board                                                                                   | Broward (County of), FL School Board, Series 2015 A, Ref. COP                                                                           | CUSIP: 115065XQ2<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4007406.40   | 0.26%             | 2025-07-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                                                         | Tender Option Bond Trust Receipts/Certificates, Series 2022, VRD RB                                                                     | CUSIP: 88035ESJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.33%             | 2025-07-01      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Weld County School District No. RE-7 Platte Valley                                                                     | Weld County School District No. RE-7 Platte Valley, Series 2024, GO Bonds                                                               | CUSIP: 949306GH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1751882.07   | 0.11%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Housing Development Agency (Social Bonds)                                                                    | Tennessee Housing Development Agency (Social Bonds), Series 2022, RB                                                                    | CUSIP: 88046KCG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3115000 | PA      | $3250718.37   | 0.21%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                                                                     | Greater Orlando Aviation Authority, Series 2016 B, RB                                                                                   | CUSIP: 392275DQ3<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   2165000 | PA      | $2183790.47   | 0.14%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wink-Loving Independent School District                                                                                | Wink-Loving Independent School District, Series 2024, GO Bonds                                                                          | CUSIP: 974170EP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501809.00    | 0.03%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of North Carolina                                                                                                | State of North Carolina, Series 2025, RB                                                                                                | CUSIP: 658268EY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10368957.00  | 0.68%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough (County of), FL Industrial Development Authority (Baycare Health System)                                  | Hillsborough (County of), FL Industrial Development Authority (Baycare Health System), Series 2024 C, Ref. RB                           | CUSIP: 43233KAH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6699293.40   | 0.44%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL Transit Authority                                                                                | Chicago (City of), IL Transit Authority, Series 2024 A, Ref. RB                                                                         | CUSIP: 16772PEE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1640802.00   | 0.11%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan (State of) Building Authority (Facilities Program)                                                            | Michigan (State of) Building Authority (Facilities Program), Series 2016 I, Ref. RB                                                     | CUSIP: 594615FN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1276905.25   | 0.08%             | 2032-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Elmhurst Park District                                                                                                 | Elmhurst Park District, Series 2025, GO Bonds                                                                                           | CUSIP: 289443JH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $966632.10    | 0.06%             | 2036-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jefferson County Capital Projects Corp.                                                                                | Jefferson County Capital Projects Corp., Series 2007 A, Ref. RB                                                                         | CUSIP: 473020LY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25027.17     | 0.00%             | 2028-06-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Western Michigan University                                                                                            | Western Michigan University, Series 2015 A, Ref. RB                                                                                     | CUSIP: 958638VH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1701186.43   | 0.11%             | 2025-06-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion)                                        | Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion), Series 2024, Ref. RB                                   | CUSIP: 340618DL8<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986404.70    | 0.06%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri (State of) Joint Municipal Electric Utility Commission (Prairie State)                                        | Missouri (State of) Joint Municipal Electric Utility Commission (Prairie State), Series 2015 A, Ref. RB                                 | CUSIP: 606092JC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3500000.00   | 0.23%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pima (County of), AZ Industrial Development Authority (Paideia Academies (The))                                        | Pima (County of), AZ Industrial Development Authority (Paideia Academies (The)), Series 2019, RB                                        | CUSIP: 72177MRW9<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    155000 | PA      | $149648.72    | 0.01%             | 2029-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| California (State of) Health Facilities Financing Authority                                                            | California (State of) Health Facilities Financing Authority, Series 2024 A, RB                                                          | CUSIP: 13032UJ82<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1853885.37   | 0.12%             | 2027-11-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Orlando (City of), FL Utilities Commission                                                                             | Orlando (City of), FL Utilities Commission, Series 2025 A, RB                                                                           | CUSIP: 686507MT8<br>LEI: 549300EJR7JVMRXL5D66 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1106457.90   | 0.07%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon (State of) (Article XI-Q State)                                                                                 | Oregon (State of) (Article XI-Q State), Series 2016, Ref. GO Bonds                                                                      | CUSIP: 68609BSR9<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   2885000 | PA      | $2927736.95   | 0.19%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue)              | Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue), Series 2018, Ref. RB         | CUSIP: 01728A3T1<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   3800000 | PA      | $3916497.74   | 0.26%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut (State of) Health & Educational Facilities Authority (Hartford Healthcare)                                 | Connecticut (State of) Health & Educational Facilities Authority (Hartford Healthcare), Series 2014 E, RB                               | CUSIP: 20774YQF7<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1268653.95   | 0.08%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans (City of), LA Aviation Board (Consolidated Rental Car)                                                     | New Orleans (City of), LA Aviation Board (Consolidated Rental Car), Series 2018, Ref. RB                                                | CUSIP: 64763XAX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1464593.47   | 0.10%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Elmhurst Park District                                                                                                 | Elmhurst Park District, Series 2025, GO Bonds                                                                                           | CUSIP: 289443HX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257734.35    | 0.02%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sun Devil Energy Center LLC (Arizona State University)                                                                 | Sun Devil Energy Center LLC (Arizona State University), Series 2008, Ref. RB                                                            | CUSIP: 866690AT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100125.89    | 0.01%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Columbus (City of), OH                                                                                                 | Columbus (City of), OH, Series 2015, Ref. RB                                                                                            | CUSIP: 199561GS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1600785.27   | 0.10%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Uchicago Medicine)                                                              | Illinois (State of) Finance Authority (Uchicago Medicine), Series 2022 B-2, RB                                                          | CUSIP: 45204FTD7<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   9850000 | PA      | $10172989.38  | 0.66%             | 2027-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota (State of) Higher Education Facilities Authority (University of St. Thomas)                                  | Minnesota (State of) Higher Education Facilities Authority (University of St. Thomas), Series 2017 A, Ref. RB                           | CUSIP: 60416H7Y4<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1448223.70   | 0.09%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                                                                          | Kentucky State Property & Building Commission, Series 2025, RB                                                                          | CUSIP: 49151F4X5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1110950.70   | 0.07%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| School Board of Miami-Dade County (The)                                                                                | School Board of Miami-Dade County (The), Series 2025, COP                                                                               | CUSIP: 59333MW84<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5259956.50   | 0.34%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania (Commonwealth of) Housing Finance Agency (Social Bonds)                                                   | Pennsylvania (Commonwealth of) Housing Finance Agency (Social Bonds), Series 2024-145A, RB                                              | CUSIP: 70879QWN9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1604354.52   | 0.10%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Oregon Health & Science University                                                                                     | Oregon Health & Science University, Series 2016 B, Ref. RB                                                                              | CUSIP: 685869EQ8<br>LEI: 549300XTWOAGON8L2G98 | Long             | DBT              | MUN               | US        |   3270000 | PA      | $3301637.90   | 0.22%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cassville School District No. R-IV                                                                                     | Cassville School District No. R-IV, Series 2023, GO Bonds                                                                               | CUSIP: 148349EA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2274372.91   | 0.15%             | 2039-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp. (Andrews Terrace Community)                                                 | Monroe County Industrial Development Corp. (Andrews Terrace Community), Series 2024, RB                                                 | CUSIP: 61075NAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5180557.50   | 0.34%             | 2027-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| St. Johns (County of), FL Housing Finance Authority (Oaks at St. John)                                                 | St. Johns (County of), FL Housing Finance Authority (Oaks at St. John), Series 2023 B, RB                                               | CUSIP: 79039AAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5970460.20   | 0.39%             | 2026-12-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Health Care Facilities Authority (Providence Health & Services)                                  | Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB                                | CUSIP: 93978HFQ3<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   2415000 | PA      | $2420173.41   | 0.16%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware State Economic Development Authority                                                                          | Delaware State Economic Development Authority, Series 2020, RB                                                                          | CUSIP: 246387SV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4185161.58   | 0.27%             | 2025-10-01      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| Connecticut (State of) Health & Educational Facilities Authority (Hartford Healthcare)                                 | Connecticut (State of) Health & Educational Facilities Authority (Hartford Healthcare), Series 2014 E, RB                               | CUSIP: 20774YQE0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003123.60   | 0.07%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Health & Educational Building Corp.                                                                       | Rhode Island Health & Educational Building Corp., Series 2017 G, RB                                                                     | CUSIP: 762196QC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2520000 | PA      | $2549026.12   | 0.17%             | 2039-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester (County of), PA Health & Education Facilities Authority (Main Line Health System)                              | Chester (County of), PA Health & Education Facilities Authority (Main Line Health System), Series 2017 A, Ref. RB                       | CUSIP: 16557HDX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2025000 | PA      | $2070206.30   | 0.14%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of) Electric Power Authority                                                                 | Puerto Rico (Commonwealth of) Electric Power Authority, Series 2005 RR, RB                                                              | CUSIP: 74526QDG4<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1505106.70   | 0.10%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Saltillo Public Improvement District                                                                                   | Saltillo Public Improvement District, Series 2018, Ref. RB                                                                              | CUSIP: 79576AAH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $160379.14    | 0.01%             | 2025-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky (Commonwealth of) Turnpike Authority (Revitalization)                                                         | Kentucky (Commonwealth of) Turnpike Authority (Revitalization), Series 2016, RB                                                         | CUSIP: 491552L78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1740675.09   | 0.11%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lewisville Independent School District                                                                                 | Lewisville Independent School District, Series 2025, GO Bonds                                                                           | CUSIP: 52882PHC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2088927.40   | 0.14%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority                                                                         | Washington Metropolitan Area Transit Authority, Series 2017 B, RB                                                                       | CUSIP: 938782FT1<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3763098.38   | 0.25%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa (State of) Tobacco Settlement Authority                                                                           | Iowa (State of) Tobacco Settlement Authority, Series 2021 B-1, Ref. RB                                                                  | CUSIP: 888805CH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $905000.00    | 0.06%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisville (City of) & Jefferson (County of), KY Metropolitan Government (Norton Healthcare, Inc.)                     | Louisville (City of) & Jefferson (County of), KY Metropolitan Government (Norton Healthcare, Inc.), Series 2016 A, Ref. RB              | CUSIP: 54659LBQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2660000 | PA      | $2695454.34   | 0.18%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Harris (County of), TX Regional Water Authority                                                                  | North Harris (County of), TX Regional Water Authority, Series 2013, Ref. RB                                                             | CUSIP: 65956NDL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $205225.56    | 0.01%             | 2030-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky (Commonwealth of) Economic Development Finance Authority (Next Generation Kentucky Information Highway)       | Kentucky (Commonwealth of) Economic Development Finance Authority (Next Generation Kentucky Information Highway), Series 2015 A, RB     | CUSIP: 49126PER7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $425357.09    | 0.03%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Elmhurst Park District                                                                                                 | Elmhurst Park District, Series 2025, GO Bonds                                                                                           | CUSIP: 289443JG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $446423.44    | 0.03%             | 2035-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA                                                                                                | City of Philadelphia PA, Series 2015, GO Bonds                                                                                          | CUSIP: 717813SJ9<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4008481.20   | 0.26%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                                                                  | Metropolitan Transportation Authority, Series 2015 F, Ref. RB                                                                           | CUSIP: 59261AAL1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    525000 | PA      | $527974.39    | 0.03%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of) Electric Power Authority                                                                 | Puerto Rico (Commonwealth of) Electric Power Authority, Series 2005 RR, RB                                                              | CUSIP: 74526QDF6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   3905000 | PA      | $3905159.32   | 0.25%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chandler (City of), AZ Industrial Development Authority (Intel Corp.)                                                  | Chandler (City of), AZ Industrial Development Authority (Intel Corp.), Series 2022-1, RB                                                | CUSIP: 158862CA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10188805.00  | 0.66%             | 2027-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Honolulu (City & County of), HI                                                                                        | Honolulu (City & County of), HI, Series 2023, RB                                                                                        | CUSIP: 438697BQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2160209.55   | 0.14%             | 2026-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| St. Paul (City of), MN Housing & Redevelopment Authority (Healthpartners Obligated Group)                              | St. Paul (City of), MN Housing & Redevelopment Authority (Healthpartners Obligated Group), Series 2015 A, Ref. RB                       | CUSIP: 792905DG3<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1897435.45   | 0.12%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp. (Brightline Florida Passenger Rail)                                                  | Florida Development Finance Corp. (Brightline Florida Passenger Rail), Series 2024, Ref. RB                                             | CUSIP: 340618DN4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2880629.10   | 0.19%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland (State of) Health & Higher Educational Facilities Authority (MedStar Health)                                  | Maryland (State of) Health & Higher Educational Facilities Authority (MedStar Health), Series 2013 B, RB                                | CUSIP: 574218PA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200517.36    | 0.01%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp. (Baylor Scott & White Health)                               | Tarrant County Cultural Education Facilities Finance Corp. (Baylor Scott & White Health), Series 2016, Ref. RB                          | CUSIP: 87638QPJ2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1033381.69   | 0.07%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Northwest (Columbia Generating Station)                                                                         | Energy Northwest (Columbia Generating Station), Series 2015 C, Ref. RB                                                                  | CUSIP: 29270CP41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1387007.42   | 0.09%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Toll Highway Authority                                                                             | Illinois (State of) Toll Highway Authority, Series 2015 A, RB                                                                           | CUSIP: 452252KQ1<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   4700000 | PA      | $4700664.11   | 0.31%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency, Inc. (Gardens Apartements)                                                                       | Capital Trust Agency, Inc. (Gardens Apartements), Series 2015 A, RB                                                                     | CUSIP: 14052TCX0<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    115000 | PA      | $114761.40    | 0.01%             | 2025-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL Transit Authority                                                                                | Chicago (City of), IL Transit Authority, Series 2024 A, Ref. RB                                                                         | CUSIP: 16772PDT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2019361.60   | 0.13%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                                                                   | State of Connecticut, Series 2025, GO Bonds                                                                                             | CUSIP: 20772KZS1<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2030909.20   | 0.13%             | 2026-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Cincinnati (Port of), OH Development Authority (IPS Cincinnati LLC)                                            | Greater Cincinnati (Port of), OH Development Authority (IPS Cincinnati LLC), Series 2021, RB                                            | CUSIP: 73421LAA9<br>LEI: 549300IK2RCZBY62ST97 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1477837.65   | 0.10%             | 2026-06-15      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| Phoenix Civic Improvement Corp.                                                                                        | Phoenix Civic Improvement Corp., Series 2014 B, Ref. RB                                                                                 | CUSIP: 71883RNK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2565000 | PA      | $2568127.25   | 0.17%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand (County of), UT School District Local Building Authority                                                         | Grand (County of), UT School District Local Building Authority, Series 2019, RB                                                         | CUSIP: 385375AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1381037.82   | 0.09%             | 2030-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                                                                 | North Carolina Medical Care Commission, Series 2025, RB                                                                                 | CUSIP: 65820YTV8<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    680000 | PA      | $680595.20    | 0.04%             | 2029-01-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Michigan (State of) Housing Development Authority (Social Bonds)                                                       | Michigan (State of) Housing Development Authority (Social Bonds), Series 2024 A, RB                                                     | CUSIP: 594654WT8<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   3805000 | PA      | $4087358.40   | 0.27%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Lower Colorado River Authority (LCRA Transmission Services Corp.)                                                      | Lower Colorado River Authority (LCRA Transmission Services Corp.), Series 2025, Ref. RB                                                 | CUSIP: 54811BP21<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018128.20   | 0.07%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Oklahoma (The)                                                                                           | University of Oklahoma (The), Series 2014 C, Ref. RB                                                                                    | CUSIP: 91476PKR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250237.43    | 0.02%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Arizona Board of Regents                                                                                 | University of Arizona Board of Regents, Series 2022 B, RB                                                                               | CUSIP: 040664GJ7<br>LEI: 254900BLZ1MCZ5JLK411 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1377674.74   | 0.09%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEFA, Inc.                                                                                                             | PEFA, Inc., Series 2019, RB                                                                                                             | CUSIP: 70556CAB0<br>LEI: 549300RSE249DJNRHY07 | Long             | DBT              | MUN               | US        |  19695000 | PA      | $19913074.86  | 1.30%             | 2026-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana (State of) Finance Authority                                                                                   | Indiana (State of) Finance Authority, Series 2016, Ref. RB                                                                              | CUSIP: 45506DA39<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1309964.29   | 0.09%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisville (City of) & Jefferson (County of), KY Metropolitan Government (Norton Healthcare, Inc.)                     | Louisville (City of) & Jefferson (County of), KY Metropolitan Government (Norton Healthcare, Inc.), Series 2016 A, Ref. RB              | CUSIP: 54659LBP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2835000 | PA      | $2877085.01   | 0.19%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Houston                                                                                                  | University of Houston, Series 2017 A, Ref. RB                                                                                           | CUSIP: 914302CL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5050056.50   | 0.33%             | 2034-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp. (Teco Project)                                               | Harris County Cultural Education Facilities Finance Corp. (Teco Project), Series 2017, Ref. RB                                          | CUSIP: 41401PCQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3675000 | PA      | $3770843.27   | 0.25%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut (State of)                                                                                                 | Connecticut (State of), Series 2016 E, GO Bonds                                                                                         | CUSIP: 20772J4N9<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   3280000 | PA      | $3338947.83   | 0.22%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon (State of)                                                                                                      | Oregon (State of), Series 2020 J, Ref. VRD GO Bonds                                                                                     | CUSIP: 68609TXF0<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.04%             | 2039-06-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| City of Garland TX Electric Utility System Revenue                                                                     | City of Garland TX Electric Utility System Revenue, Series 2016, RB                                                                     | CUSIP: 366133KZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008601.50   | 0.07%             | 2033-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Illinois                                                                                                 | University of Illinois, Series 2008 A, Ref. COP                                                                                         | CUSIP: 914325CW3<br>LEI: 549300VD8PPC4Q5HK850 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1021686.77   | 0.07%             | 2026-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kentucky (Commonwealth of) Economic Development Finance Authority (Next Generation Kentucky Information Highway)       | Kentucky (Commonwealth of) Economic Development Finance Authority (Next Generation Kentucky Information Highway), Series 2015 A, RB     | CUSIP: 49126PEU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001050.70   | 0.07%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Houston (City of), TX Convention & Entertainment Facilities Department                                                 | Houston (City of), TX Convention & Entertainment Facilities Department, Series 2001 B, RB                                               | CUSIP: 44237NDL3<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   4650000 | PA      | $4609510.59   | 0.30%             | 2025-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Iowa (State of) Finance Authority (Unitypoint Health)                                                                  | Iowa (State of) Finance Authority (Unitypoint Health), Series 2014 C, RB                                                                | CUSIP: 462466EY5<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    810000 | PA      | $811532.93    | 0.05%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                                               | Public Finance Authority, Series 2015, RB                                                                                               | CUSIP: 74442EAX8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6004842.60   | 0.39%             | 2025-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Arizona (State of) Industrial Development Authority (Social Bonds)                                                     | Arizona (State of) Industrial Development Authority (Social Bonds), Series 2023, RB                                                     | CUSIP: 04052FDU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1563616.65   | 0.10%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Housing Finance Agency (Green Bonds)                                                               | New York (State of) Housing Finance Agency (Green Bonds), Series 2023 E-2, RB                                                           | CUSIP: 64987JP47<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   4380000 | PA      | $4395953.71   | 0.29%             | 2028-05-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| University of Arizona Board of Regents                                                                                 | University of Arizona Board of Regents, Series 2015 D, RB                                                                               | CUSIP: 04048RNP7<br>LEI: 254900BLZ1MCZ5JLK411 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1451164.79   | 0.09%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Kansas Department of Transportation                                                                           | State of Kansas Department of Transportation, Series 2025, RB                                                                           | CUSIP: 485424TN5<br>LEI: 5493001635XK841MIO47 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7451909.50   | 0.49%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                                                                         | Central Puget Sound Regional Transit Authority, Series 1999, RB                                                                         | CUSIP: 155048BB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $942434.04    | 0.06%             | 2028-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| El Paso (City of), TX                                                                                                  | El Paso (City of), TX, Series 2016, GO Bonds                                                                                            | CUSIP: 283734C82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2134142.22   | 0.14%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Rush University Medical Center)                                                 | Illinois (State of) Finance Authority (Rush University Medical Center), Series 2015 A, Ref. RB                                          | CUSIP: 45203HP63<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   3980000 | PA      | $3979904.88   | 0.26%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Portage Public Schools                                                                                                 | Portage Public Schools, Series 2025, GO Bonds                                                                                           | CUSIP: 735779PE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012103.60   | 0.07%             | 2025-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SCAGO Educational Facilities Corp. for Pickens School District                                                         | SCAGO Educational Facilities Corp. for Pickens School District, Series 2015, Ref. RB                                                    | CUSIP: 80585TCE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1801789.20   | 0.12%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority                                                                         | Washington Metropolitan Area Transit Authority, Series 2017 B, RB                                                                       | CUSIP: 938782FQ7<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1424414.46   | 0.09%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Housing Development Authority (Green Bonds)                                                        | Illinois (State of) Housing Development Authority (Green Bonds), Series 2024 E, Ref. VRD RB                                             | CUSIP: 45202BSH0<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3500000.00   | 0.23%             | 2025-06-06      | Variable      | 1.99%                 | No            |                  2 | On Loan: No      |
| New York (State of) Dormitory Authority (White Plains Hospital Obligated Group)                                        | New York (State of) Dormitory Authority (White Plains Hospital Obligated Group), Series 2024, RB                                        | CUSIP: 65000B7H5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061089.20   | 0.07%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Discovery Clean Water Alliance                                                                                         | Discovery Clean Water Alliance, Series 2022, RB                                                                                         | CUSIP: 25472TAT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1221534.33   | 0.08%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Power Generation Agency (Whelan Energy Center Unit 2)                                                           | Public Power Generation Agency (Whelan Energy Center Unit 2), Series 2016, Ref. RB                                                      | CUSIP: 744434ED9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2980000 | PA      | $3032604.45   | 0.20%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (Thomas Jefferson University)                   | Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (Thomas Jefferson University), Series 2015 B, VRD RB             | CUSIP: 70917SNX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10095000 | PA      | $10095000.00  | 0.66%             | 2025-06-06      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority                                                                                            | Great Lakes Water Authority, Series 2016 C, Ref. RB                                                                                     | CUSIP: 39081JAM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1584020.57   | 0.10%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Douglas NE                                                                                                   | County of Douglas NE, Series 2025, RB                                                                                                   | CUSIP: 259226DB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039593.70   | 0.07%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire (State of) Business Finance Authority (Social Certificates)                                              | New Hampshire (State of) Business Finance Authority (Social Certificates), Series 2024-3, Revenue Ctfs.                                 | CUSIP: 63607WAW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4974913 | PA      | $4388278.07   | 0.29%             | 2041-10-20      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                                                                   | State of Connecticut, Series 2025, GO Bonds                                                                                             | CUSIP: 20772KZT9<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   3125000 | PA      | $3237445.31   | 0.21%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Housing Finance Corp.                                                                                          | Florida Housing Finance Corp., Series 2024 3, RB                                                                                        | CUSIP: 34074M4Y4<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1785490.90   | 0.12%             | 2055-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of) Development Finance Agency                                                             | Massachusetts (Commonwealth of) Development Finance Agency, Series 2015 F, Ref. RB                                                      | CUSIP: 57584XFT3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1600836.16   | 0.10%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Leander Independent School District                                                                                    | Leander Independent School District, Series 2015 A, Ref. GO Bonds                                                                       | CUSIP: 521841GZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3010829.10   | 0.20%             | 2025-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Houston                                                                                                  | University of Houston, Series 2017 A, Ref. RB                                                                                           | CUSIP: 914302CK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2275000 | PA      | $2298883.86   | 0.15%             | 2033-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lee (County of), FL Industrial Development Authority (Shell Point Obligated Group)                                     | Lee (County of), FL Industrial Development Authority (Shell Point Obligated Group), Series 2024 B-3, RB                                 | CUSIP: 52349EET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1155706.05   | 0.08%             | 2029-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| East Side Union High School District                                                                                   | East Side Union High School District, Series 2025, GO Bonds                                                                             | CUSIP: 275282TB7<br>LEI: 549300FHNKBG2V8ZLG85 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4198630.80   | 0.27%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire (State of) Health and Education Facilities Authority                                                     | New Hampshire (State of) Health and Education Facilities Authority, Series 2016, Ref. RB                                                | CUSIP: 64461XAE5<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4059462.80   | 0.26%             | 2031-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Howell Mountain Elementary School District (Election of 2005)                                                          | Howell Mountain Elementary School District (Election of 2005), Series 2007, GO Bonds                                                    | CUSIP: 44315MBM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $478853.86    | 0.03%             | 2027-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Unified School District No. 69 Paradise Valley                                                         | Maricopa County Unified School District No. 69 Paradise Valley, Series 2025 A, GO Bonds                                                 | CUSIP: 567373R80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023440.40   | 0.07%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Columbus City School District (Construction and Improvement)                                                           | Columbus City School District (Construction and Improvement), Series 2016 A, Ref. GO Bonds                                              | CUSIP: 1995073W2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6260000 | PA      | $6350171.54   | 0.41%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hawaii (State of)                                                                                                      | Hawaii (State of), Series 2016 FG, GO Bonds                                                                                             | CUSIP: 419792LM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2890000 | PA      | $2957191.34   | 0.19%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Business Finance Corp. (Northrop Grumman Corp.)                                                            | Mississippi Business Finance Corp. (Northrop Grumman Corp.), Series 2006, RB                                                            | CUSIP: 60528AAA2<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25000.45     | 0.00%             | 2028-12-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Michigan (State of) Building Authority (Facilities Program)                                                            | Michigan (State of) Building Authority (Facilities Program), Series 2020, Ref. VRD RB                                                   | CUSIP: 594615HB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3100000.00   | 0.20%             | 2025-06-06      | Variable      | 2.07%                 | No            |                  2 | On Loan: No      |
| Clark County School District                                                                                           | Clark County School District, Series 2021, GO Bonds                                                                                     | CUSIP: 181059U95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2040196.40   | 0.13%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lewisville Independent School District                                                                                 | Lewisville Independent School District, Series 2025, GO Bonds                                                                           | CUSIP: 52882PHD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2393381.48   | 0.16%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grundy Kendall & Will Counties Community High School District No. 111 (Minooka)                                        | Grundy Kendall & Will Counties Community High School District No. 111 (Minooka), Series 2025, GO Bonds                                  | CUSIP: 400424MJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $205878.70    | 0.01%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Boerne Independent School District                                                                                     | Boerne Independent School District, Series 2022, GO Bonds                                                                               | CUSIP: 097067NM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2490000 | PA      | $2527963.04   | 0.16%             | 2027-12-01      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| Clark County School District                                                                                           | Clark County School District, Series 2015 D, GO Bonds                                                                                   | CUSIP: 181059UB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1769512.62   | 0.12%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Williamson (County of), TX Industrial Development Board                                                                | Williamson (County of), TX Industrial Development Board, Series 2023, RB                                                                | CUSIP: 969878AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4125000 | PA      | $4223059.50   | 0.28%             | 2027-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Duke Energy Progress)                                                   | Wisconsin (State of) Public Finance Authority (Duke Energy Progress), Series 2022, Ref. RB                                              | CUSIP: 74447HAB4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1727455.42   | 0.11%             | 2026-10-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| Pennsylvania (Commonwealth of) Turnpike Commission                                                                     | Pennsylvania (Commonwealth of) Turnpike Commission, Series 2023 B, VRD Ref. RB                                                          | CUSIP: 709225JD9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   6650000 | PA      | $6650000.00   | 0.43%             | 2025-06-06      | Variable      | 1.95%                 | No            |                  2 | On Loan: No      |
| Lovejoy Independent School District                                                                                    | Lovejoy Independent School District, Series 2016, Ref. GO Bonds                                                                         | CUSIP: 547160TJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2665000 | PA      | $2694277.42   | 0.18%             | 2033-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia (Children's Hospital Obligated Group)                                                             | District of Columbia (Children's Hospital Obligated Group), Series 2015, Ref. RB                                                        | CUSIP: 254764JW4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007300.40   | 0.07%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania (Commonwealth of) Turnpike Commission                                                                     | Pennsylvania (Commonwealth of) Turnpike Commission, Series 2016 A, Ref. RB                                                              | CUSIP: 709224RE1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   9990000 | PA      | $10223571.20  | 0.67%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Elk Grove Village (Village of), IL                                                                                     | Elk Grove Village (Village of), IL, Series 2017, GO Bonds                                                                               | CUSIP: 287299LR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021735.20   | 0.07%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gloucester (County of), NJ Improvement Authority (The)                                                                 | Gloucester (County of), NJ Improvement Authority (The), Series 2015 B, Ref. RB                                                          | CUSIP: 37970PGJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003054.00   | 0.13%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Garden City (City of), MI                                                                                              | Garden City (City of), MI, Series 2024, GO Bonds                                                                                        | CUSIP: 365118UM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1202114.67   | 0.08%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa (State of) Higher Education Loan Authority (Grinnell College)                                                     | Iowa (State of) Higher Education Loan Authority (Grinnell College), Series 2014, Ref. RB                                                | CUSIP: 4624602L9<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1675675.03   | 0.11%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                                                            | Connecticut State Health & Educational Facilities Authority, Series 2025, RB                                                            | CUSIP: 20775DZS4<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5431090.00   | 0.35%             | 2030-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris & Montgomery (Counties of), TX Municipal Utility District No. 386                                               | Harris & Montgomery (Counties of), TX Municipal Utility District No. 386, Series 2014, GO Bonds                                         | CUSIP: 41456PEN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $620222.89    | 0.04%             | 2030-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                                                                          | Kentucky State Property & Building Commission, Series 2016, RB                                                                          | CUSIP: 49151FMN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1968072.99   | 0.13%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Chicago Fire Protection District                                                                                  | West Chicago Fire Protection District, Series 2008, GO Bonds                                                                            | CUSIP: 952075AX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15012.93     | 0.00%             | 2029-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Cincinnati Classical Academy)                                           | Wisconsin (State of) Public Finance Authority (Cincinnati Classical Academy), Series 2024, RB                                           | CUSIP: 74443DLA7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1051969.00   | 0.07%             | 2035-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California (State of) Health Facilities Financing Authority (Sutter Health)                                            | California (State of) Health Facilities Financing Authority (Sutter Health), Series 2017 A, Ref. RB                                     | CUSIP: 13032UNQ7<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1337262.36   | 0.09%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Dormitory Authority (White Plains Hospital Obligated Group)                                        | New York (State of) Dormitory Authority (White Plains Hospital Obligated Group), Series 2024, RB                                        | CUSIP: 65000B7K8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1166182.27   | 0.08%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Municipal Finance Authority (Waste Management, Inc.)                                             | California (State of) Municipal Finance Authority (Waste Management, Inc.), Series 2022 A, RB                                           | CUSIP: 13048RAL1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4999942.50   | 0.33%             | 2025-10-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of) Development Finance Agency                                                             | Massachusetts (Commonwealth of) Development Finance Agency, Series 2015, Ref. RB                                                        | CUSIP: 57584XFS5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3735000 | PA      | $3738063.82   | 0.24%             | 2033-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina (State of) Public Service Authority                                                                     | South Carolina (State of) Public Service Authority, Series 2016 A, Ref. RB                                                              | CUSIP: 837151QA0<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3006643.50   | 0.20%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima (The)                                                           | Industrial Development Authority of the County of Pima (The), Series 2015, RB                                                           | CUSIP: 72177PBG4<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   4820000 | PA      | $4885640.69   | 0.32%             | 2025-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Kelso (City of), WA Housing Authority (Chinook & Columbia Apartments)                                                  | Kelso (City of), WA Housing Authority (Chinook & Columbia Apartments), Series 1998, RB                                                  | CUSIP: 488269AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10000.18     | 0.00%             | 2028-03-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| South Central Connecticut Regional Water Authority                                                                     | South Central Connecticut Regional Water Authority, Twenty Ninth Series 2014, Ref. RB                                                   | CUSIP: 837227W37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500711.15    | 0.03%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Turnpike Authority                                                                                               | Maine Turnpike Authority, Series 2025, RB                                                                                               | CUSIP: 560543CF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1781397.91   | 0.12%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare) | South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare), Series 2024, RB | CUSIP: 83704HAD9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    250000 | PA      | $259798.78    | 0.02%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                                                         | Tender Option Bond Trust Receipts/Certificates, Series 2023, VRD RB                                                                     | CUSIP: 88035FS84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11530000 | PA      | $11530000.00  | 0.75%             | 2031-05-01      | Variable      | 3.22%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Housing Development Authority                                                                      | Illinois (State of) Housing Development Authority, Series 2005, RB                                                                      | CUSIP: 45203FAM8<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5005.26      | 0.00%             | 2025-09-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Columbus (City of) & Franklin (County of), OH Finance Authority (Easton)                                               | Columbus (City of) & Franklin (County of), OH Finance Authority (Easton), Series 2023, RB                                               | CUSIP: 19910XAA4<br>LEI: 549300NX3ODQN2ETOO82 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3060673.20   | 0.20%             | 2027-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Merrillville (Town of), IN (Belvedere Housing)                                                                         | Merrillville (Town of), IN (Belvedere Housing), Series 2016, RB                                                                         | CUSIP: 590250AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99038.15     | 0.01%             | 2026-04-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL Transit Authority                                                                                | Chicago (City of), IL Transit Authority, Series 2024 A, Ref. RB                                                                         | CUSIP: 16772PED4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1654986.00   | 0.11%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado (State of) Regional Transportation District (Fastracks)                                                       | Colorado (State of) Regional Transportation District (Fastracks), Series 2016 A, RB                                                     | CUSIP: 759136TG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2715000 | PA      | $2732808.77   | 0.18%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida (State of) Municipal Loan Council (Shingle Creek Transit & Utility Community Development District)             | Florida (State of) Municipal Loan Council (Shingle Creek Transit & Utility Community Development District), Series 2024, RB             | CUSIP: 34281UAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $230756.75    | 0.02%             | 2031-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of)                                                                                          | Puerto Rico (Commonwealth of), Series 2021 A-1, GO Bonds                                                                                | CUSIP: 74514L3F2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   3660356 | PA      | $3662957.78   | 0.24%             | 2025-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp. (University of Rochester)                                                   | Monroe County Industrial Development Corp. (University of Rochester), Series 2015 A, Ref. RB                                            | CUSIP: 61075TMC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001836.40   | 0.13%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gulf Coast Authority (Bayport Area System)                                                                             | Gulf Coast Authority (Bayport Area System), Series 2015, RB                                                                             | CUSIP: 401905FG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1417612.03   | 0.09%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washoe (County of), NV (Sierra Pacific Power Corp.)                                                                    | Washoe (County of), NV (Sierra Pacific Power Corp.), Series 2016, Ref. RB                                                               | CUSIP: 940865BJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1495649.85   | 0.10%             | 2029-10-01      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| Columbus Regional Airport Authority (John Glenn Columbus International Airport)                                        | Columbus Regional Airport Authority (John Glenn Columbus International Airport), Series 2025, Ref. RB                                   | CUSIP: 199546DL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $943576.93    | 0.06%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morrow (Port of), OR (Bonneville Cooperation Project No. 4)                                                            | Morrow (Port of), OR (Bonneville Cooperation Project No. 4), Series 2024 A, GO Bonds                                                    | CUSIP: 73473RFG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3004476.00   | 0.20%             | 2026-10-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport)              | New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2016, Ref. RB         | CUSIP: 650116BN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6030000 | PA      | $6029945.73   | 0.39%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Larimer County School District No. R-1 Poudre                                                                          | Larimer County School District No. R-1 Poudre, Series 2018, GO Bonds                                                                    | CUSIP: 517138YE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2660000 | PA      | $2711714.92   | 0.18%             | 2040-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pecos Barstow Toyah Independent School District                                                                        | Pecos Barstow Toyah Independent School District, Series 2023, GO Bonds                                                                  | CUSIP: 705227HQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1885000 | PA      | $1893691.55   | 0.12%             | 2040-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan (State of) Finance Authority (Beaumont Health Credit Group)                                                   | Michigan (State of) Finance Authority (Beaumont Health Credit Group), Series 2022, Ref. RB                                              | CUSIP: 59447T3R2<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2133902.40   | 0.14%             | 2036-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tallahassee (City of), FL                                                                                              | Tallahassee (City of), FL, Series 2017, Ref. RB                                                                                         | CUSIP: 874476JQ8<br>LEI: 549300MPY4HDPK8B1G15 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1231911.08   | 0.08%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Waltham (City of), MA                                                                                                  | Waltham (City of), MA, Series 2008, GO Bonds                                                                                            | CUSIP: 933254ZX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15012.22     | 0.00%             | 2027-09-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Health & Educational Facilities Authority (Unitypoint Health)                                     | Wisconsin (State of) Health & Educational Facilities Authority (Unitypoint Health), Series 2014 A, RB                                   | CUSIP: 97670FBE0<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1477826.84   | 0.10%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport)              | New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2020, Ref. RB         | CUSIP: 650116CV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8135000 | PA      | $8311317.18   | 0.54%             | 2031-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Cook (County of), IL                                                                                                   | Cook (County of), IL, Series 2016 A, Ref. GO Bonds                                                                                      | CUSIP: 213185KK6<br>LEI: 5493004UMR7OX4YITE10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021315.50   | 0.07%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida (State of) Municipal Power Agency                                                                              | Florida (State of) Municipal Power Agency, Series 2015, RB                                                                              | CUSIP: 342816G58<br>LEI: 549300M3I10QJUPNU131 | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1938778.41   | 0.13%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Dakota (State of) Housing Finance Agency                                                                         | North Dakota (State of) Housing Finance Agency, Series 2015, VRD RB                                                                     | CUSIP: 658909JV9<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   6540000 | PA      | $6540000.00   | 0.43%             | 2025-06-06      | Variable      | 1.95%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Housing & Economic Development Authority                                                          | Wisconsin (State of) Housing & Economic Development Authority, Series 2023 E, RB                                                        | CUSIP: 9769044P4<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4411900.24   | 0.29%             | 2027-05-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Jackson County Consolidated School District No. 4                                                                      | Jackson County Consolidated School District No. 4, Series 2022, GO Bonds                                                                | CUSIP: 467484SA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3005000 | PA      | $3047297.78   | 0.20%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Transportation Trust Fund Authority                                                              | New Jersey (State of) Transportation Trust Fund Authority, Series 2018 A, Ref. RN                                                       | CUSIP: 6461363L3<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5081496.50   | 0.33%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky (Commonwealth of) Public Energy Authority                                                                     | Kentucky (Commonwealth of) Public Energy Authority, Series 2025 A, Ref. RB                                                              | CUSIP: 74440DFN9<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3672068.40   | 0.24%             | 2029-12-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Rockford (City of), IL (Waterworks System Alternative Revenue Source)                                                  | Rockford (City of), IL (Waterworks System Alternative Revenue Source), Series 2010, GO Bonds                                            | CUSIP: 77316QTU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $140056.97    | 0.01%             | 2025-12-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Nebraska (State of) Municipal Energy Agency                                                                            | Nebraska (State of) Municipal Energy Agency, Series 2022 A, Ref. RB                                                                     | CUSIP: 625914KL9<br>LEI: N31S7V1JSNSIMBEEGT03 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1269259.00   | 0.08%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County School District                                                                                      | Palm Beach County School District, Series 2025, COP                                                                                     | CUSIP: 696550M25<br>LEI: 549300J36FX8PM8L7086 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1346905.13   | 0.09%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Rosalind Franklin University)                                                   | Illinois (State of) Finance Authority (Rosalind Franklin University), Series 2017, Ref. RB                                              | CUSIP: 45204EUU0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513784.05    | 0.03%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York & New Jersey (States of) Port Authority                                                                       | New York & New Jersey (States of) Port Authority, One Hundred Ninety Third Series 2015, Ref. RB                                         | CUSIP: 73358WYH1<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2380000 | PA      | $2384703.36   | 0.16%             | 2032-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Health Care Facilities Authority                                                                 | Washington (State of) Health Care Facilities Authority, Series 2015 B, Ref. RB                                                          | CUSIP: 93978HME2<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1746995.41   | 0.11%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cook (County of), IL                                                                                                   | Cook (County of), IL, Series 2018, Ref. GO Bonds                                                                                        | CUSIP: 213185LH2<br>LEI: 5493004UMR7OX4YITE10 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1167004.02   | 0.08%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sunshine Skyway Bridge                                                                                                 | Sunshine Skyway Bridge, Series 2019 A, RB                                                                                               | CUSIP: 34161HAF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1777529.02   | 0.12%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of) Electric Power Authority                                                                 | Puerto Rico (Commonwealth of) Electric Power Authority, Series 2005 RR, RB                                                              | CUSIP: 74526QUF7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100004.08    | 0.01%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Heights (City of), MO (Westport Plaza Redevelopment)                                                          | Maryland Heights (City of), MO (Westport Plaza Redevelopment), Series 2020, RB                                                          | CUSIP: 57407CAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $849614.94    | 0.06%             | 2038-11-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Highland Park Independent School District                                                                              | Highland Park Independent School District, Series 2018, GO Bonds                                                                        | CUSIP: 430686QN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1164433.40   | 0.08%             | 2026-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Energy Northwest (Columbia Generating Station)                                                                         | Energy Northwest (Columbia Generating Station), Series 2015, Ref. RB                                                                    | CUSIP: 29270CP33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2265000 | PA      | $2268282.89   | 0.15%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia (Children's Hospital Obligated Group)                                                             | District of Columbia (Children's Hospital Obligated Group), Series 2015, Ref. RB                                                        | CUSIP: 254764KC6<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   3190000 | PA      | $3192334.76   | 0.21%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington (County of), PA Redevelopment Authority (Victory Centre)                                                    | Washington (County of), PA Redevelopment Authority (Victory Centre), Series 2018, Ref. RB                                               | CUSIP: 938618AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $786027.88    | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana (State of) Finance Authority (CWA Authority)                                                                   | Indiana (State of) Finance Authority (CWA Authority), Series 2014 A, RB                                                                 | CUSIP: 45505MCX2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1752669.98   | 0.11%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Municipal Electric Agency                                                                          | Illinois (State of) Municipal Electric Agency, Series 2015 A, Ref. RB                                                                   | CUSIP: 452024JA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3900000 | PA      | $3901999.14   | 0.25%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Broward (County of), FL                                                                                                | Broward (County of), FL, Series 2015 A, Ref. RB                                                                                         | CUSIP: 115117LD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3895000 | PA      | $3918525.02   | 0.26%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Duval County Public Schools                                                                                            | Duval County Public Schools, Series 2025, COP                                                                                           | CUSIP: 267169HN3<br>LEI: 254900RS6MO5WEO2WC42 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1321285.25   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ann Arbor School District                                                                                              | Ann Arbor School District, Series 2025, GO Bonds                                                                                        | CUSIP: 035519YW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2885000 | PA      | $3098854.95   | 0.20%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas (City of), TX Independent School District                                                                       | Dallas (City of), TX Independent School District, Series 2025 A-1, GO Bonds                                                             | CUSIP: 235308Q30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3560000 | PA      | $3597110.51   | 0.23%             | 2026-02-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (City of), NY                                                                                                 | New York (City of), NY, Series 2012, VRD GO Bonds                                                                                       | CUSIP: 64966QWQ9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |  12885000 | PA      | $12885000.00  | 0.84%             | 2025-06-06      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| Alaska (State of) International Airports System                                                                        | Alaska (State of) International Airports System, Series 2025 A, Ref. RB                                                                 | CUSIP: 011842UU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $523650.10    | 0.03%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York & New Jersey (States of) Port Authority                                                                       | New York & New Jersey (States of) Port Authority, One Hundred Seventy Fifth Series 2012, RB                                             | CUSIP: 73358WJN5<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    470000 | PA      | $470369.23    | 0.03%             | 2026-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Rosalind Franklin University)                                                   | Illinois (State of) Finance Authority (Rosalind Franklin University), Series 2017, Ref. RB                                              | CUSIP: 45204EUV8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    325000 | PA      | $333194.49    | 0.02%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Horace (City of), ND                                                                                                   | Horace (City of), ND, Series 2024 C, Ref. GO Bonds                                                                                      | CUSIP: 440365JJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $580527.75    | 0.04%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Health Care Facilities Financing Authority (Hackensack Meridian Health Obligated Group)          | New Jersey (State of) Health Care Facilities Financing Authority (Hackensack Meridian Health Obligated Group), Series 2017, Ref. RB     | CUSIP: 645790JW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $834995.21    | 0.05%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Northwest                                                                                                       | Energy Northwest, Series 2025, RB                                                                                                       | CUSIP: 29270C6W0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5225774.00   | 0.34%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Horace (City of), ND                                                                                                   | Horace (City of), ND, Series 2024 C, Ref. GO Bonds                                                                                      | CUSIP: 440365JH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $545640.52    | 0.04%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Horace (City of), ND                                                                                                   | Horace (City of), ND, Series 2024 C, Ref. GO Bonds                                                                                      | CUSIP: 440365JK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $614160.32    | 0.04%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Turnpike Authority                                                                               | New Jersey (State of) Turnpike Authority, Series 2014 A, RB                                                                             | CUSIP: 6461394W2<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   3090000 | PA      | $3094860.57   | 0.20%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (City of), NY Transitional Finance Authority                                                                  | New York (City of), NY Transitional Finance Authority, Series 2016, RB                                                                  | CUSIP: 64971WL73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3940000 | PA      | $3987348.16   | 0.26%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami (City of) & Dade (County of), FL School Board (The)                                                              | Miami (City of) & Dade (County of), FL School Board (The), Series 2016 A, Ref. COP                                                      | CUSIP: 59333MQ81<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |   3295000 | PA      | $3334893.55   | 0.22%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Plains Energy Project                                                                                          | Central Plains Energy Project, Series 2019, Ref. RB                                                                                     | CUSIP: 154872AT2<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   3380000 | PA      | $3380958.23   | 0.22%             | 2025-08-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of) Development Finance Agency (Emerson College)                                           | Massachusetts (Commonwealth of) Development Finance Agency (Emerson College), Series 2025, Ref. RB                                      | CUSIP: 57585BDE5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1124517.53   | 0.07%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester (County of), PA Industrial Development Authority (Renaissance Academy Charter School)                          | Chester (County of), PA Industrial Development Authority (Renaissance Academy Charter School), Series 2024, Ref. RB                     | CUSIP: 165588FR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $734120.03    | 0.05%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Invesco Rochester High Yield Municipal ETF                                                                             | Invesco Rochester High Yield Municipal ETF                                                                                              | CUSIP: 46090A747<br>LEI: 5493006RURMGCZH0OI34 | Long             | EC               | RF                | US        |     17000 | NS      | $851618.40    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaii (State of)                                                                                                      | Hawaii (State of), Series 2014 EO, GO Bonds                                                                                             | CUSIP: 419792H66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1880000 | PA      | $1882202.80   | 0.12%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cook (County of), IL                                                                                                   | Cook (County of), IL, Series 2016 A, Ref. GO Bonds                                                                                      | CUSIP: 213185KL4<br>LEI: 5493004UMR7OX4YITE10 | Long             | DBT              | MUN               | US        |   4950000 | PA      | $5049165.83   | 0.33%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                                                                                          | North Texas Tollway Authority, Series 2016 A, Ref. RB                                                                                   | CUSIP: 66285WSK3<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009533.40   | 0.07%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Health Care Facilities Financing Authority (RWJ Barnabas Health Obligated Group)                 | New Jersey (State of) Health Care Facilities Financing Authority (RWJ Barnabas Health Obligated Group), Series 2016 A, Ref. RB          | CUSIP: 645790FK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9110000 | PA      | $9258860.13   | 0.60%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County School District                                                                                      | Palm Beach County School District, Series 2015 C, Ref. COP                                                                              | CUSIP: 696550A85<br>LEI: 549300J36FX8PM8L7086 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002994.10   | 0.07%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Northwest                                                                                                       | Energy Northwest, Series 2015, RB                                                                                                       | CUSIP: 29270CP66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1296876.97   | 0.08%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Utility Debt Securitization Authority                                                              | New York (State of) Utility Debt Securitization Authority, Series 2015, Ref. RB                                                         | CUSIP: 91802RBN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8635000 | PA      | $8686260.81   | 0.57%             | 2033-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare) | South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare), Series 2024, RB | CUSIP: 83704HAE7<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    280000 | PA      | $291249.76    | 0.02%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Housing Finance Agency (Social Certificates)                                                     | California (State of) Housing Finance Agency (Social Certificates), Series 2023-1, RB                                                   | CUSIP: 13033DAL9<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   2457156 | PA      | $2436145.55   | 0.16%             | 2036-09-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Collinsville (City of), IL Area Recreation District                                                                    | Collinsville (City of), IL Area Recreation District, Series 2004, GO Bonds                                                              | CUSIP: 195063CQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $450410.18    | 0.03%             | 2026-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| University of Washington                                                                                               | University of Washington, Series 2015 B, Ref. RB                                                                                        | CUSIP: 91523NNR3<br>LEI: T8YS5W0N70BYCTHPA429 | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1010000.00   | 0.07%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Housing Finance Agency (Green Bonds)                                                               | New York (State of) Housing Finance Agency (Green Bonds), Series 2023 E-2, RB                                                           | CUSIP: 64987JP54<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4000962.40   | 0.26%             | 2027-05-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Missouri (State of) Health & Educational Facilities Authority (St. Luke's Health System, Inc.)                         | Missouri (State of) Health & Educational Facilities Authority (St. Luke's Health System, Inc.), Series 2016, Ref. RB                    | CUSIP: 60637AKU5<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1230756.73   | 0.08%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                                                         | New Jersey Transportation Trust Fund Authority, Series 2024, RB                                                                         | CUSIP: 64613CEN4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079495.70   | 0.07%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cuyahoga (County of), OH (Shaker Square)                                                                               | Cuyahoga (County of), OH (Shaker Square), Series 2010 D, Ref. RB                                                                        | CUSIP: 232263GF4<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |    145000 | PA      | $145191.07    | 0.01%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Florida Expressway Authority                                                                                   | Central Florida Expressway Authority, Series 2017, Ref. RB                                                                              | CUSIP: 153476DA1<br>LEI: 549300JL23Z3Z64M6K65 | Long             | DBT              | MUN               | US        |   2020000 | PA      | $2043224.95   | 0.13%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester (County of), PA Industrial Development Authority (Renaissance Academy Charter School)                          | Chester (County of), PA Industrial Development Authority (Renaissance Academy Charter School), Series 2024, Ref. RB                     | CUSIP: 165588FQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $364773.96    | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant (County of), TX Regional Water District                                                                        | Tarrant (County of), TX Regional Water District, Series 2015, Ref. RB                                                                   | CUSIP: 876443LK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1056428.58   | 0.07%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire (State of) Business Finance Authority (Social Certificates)                                              | New Hampshire (State of) Business Finance Authority (Social Certificates), Series 2024-1A, RB                                           | CUSIP: 63607WAQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3907946 | PA      | $3624467.46   | 0.24%             | 2041-07-20      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Denver (City & County of), CO                                                                                          | Denver (City & County of), CO, Series 2016 A, Ref. RB                                                                                   | CUSIP: 249182JZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1808119.43   | 0.12%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                                                     | South Carolina Jobs-Economic Development Authority, Series 2025, RB                                                                     | CUSIP: 83703EMV4<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   3140000 | PA      | $3311484.19   | 0.22%             | 2030-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority (Green Bonds)                                                                    | Metropolitan Transportation Authority (Green Bonds), Series 2017 C-1, Ref. RB                                                           | CUSIP: 59261APW1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    605000 | PA      | $620664.36    | 0.04%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                               | Massachusetts Development Finance Agency, Series 2025, RB                                                                               | CUSIP: 57585BJJ8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1889119.80   | 0.12%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.)                                      | Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.), Series 2018 A, RB                                    | CUSIP: 74442PFS9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    660000 | PA      | $669109.98    | 0.04%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana (State of) Housing & Community Development Authority (Social Bonds)                                            | Indiana (State of) Housing & Community Development Authority (Social Bonds), Series 2023 A-1, RB                                        | CUSIP: 45505TB83<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   2740000 | PA      | $2884737.21   | 0.19%             | 2053-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| University of Kansas Hospital Authority (KU Health System)                                                             | University of Kansas Hospital Authority (KU Health System), Series 2015, Ref. RB                                                        | CUSIP: 914367DB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1937076.35   | 0.13%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans (City of), LA Aviation Board (Consolidated Rental Car)                                                     | New Orleans (City of), LA Aviation Board (Consolidated Rental Car), Series 2018, Ref. RB                                                | CUSIP: 64763XAW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1274818.50   | 0.08%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County School District                                                                                      | Palm Beach County School District, Series 2015 D, Ref. COP                                                                              | CUSIP: 696550ZZ8<br>LEI: 549300J36FX8PM8L7086 | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1414221.68   | 0.09%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Renown Regional Medical Center)                                         | Wisconsin (State of) Public Finance Authority (Renown Regional Medical Center), Series 2015 A, Ref. RB                                  | CUSIP: 74442CAS3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3295000 | PA      | $3296151.93   | 0.21%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Scioto (County of), OH (Southern Ohio Medical Center)                                                                  | Scioto (County of), OH (Southern Ohio Medical Center), Series 2016, Ref. RB                                                             | CUSIP: 808878GX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2550000 | PA      | $2568985.77   | 0.17%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kane Cook & DuPage Counties School District No. U-46 Elgin                                                             | Kane Cook & DuPage Counties School District No. U-46 Elgin, Series 2025, GO Bonds                                                       | CUSIP: 483836WK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1214304.02   | 0.08%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEA Electric System                                                                                                    | JEA Electric System, Series 2017 B, Ref. RB                                                                                             | CUSIP: 46613SGL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3410000 | PA      | $3526651.67   | 0.23%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Seattle (Port of), WA                                                                                                  | Seattle (Port of), WA, Series 2017, GO Bonds                                                                                            | CUSIP: 735371QA7<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4073250.80   | 0.27%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon Health & Science University                                                                                     | Oregon Health & Science University, Series 2016 B, Ref. RB                                                                              | CUSIP: 685869EL9<br>LEI: 549300XTWOAGON8L2G98 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1288816.79   | 0.08%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pecos Barstow Toyah Independent School District                                                                        | Pecos Barstow Toyah Independent School District, Series 2023, GO Bonds                                                                  | CUSIP: 705227HN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1358647.43   | 0.09%             | 2038-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| College Park (City of), GA (Atlanta International Airport)                                                             | College Park (City of), GA (Atlanta International Airport), Series 2006 B, RB                                                           | CUSIP: 194315BD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10007.73     | 0.00%             | 2026-01-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Washoe (County of), NV (Sierra Pacific Power Corp.)                                                                    | Washoe (County of), NV (Sierra Pacific Power Corp.), Series 2016, Ref. RB                                                               | CUSIP: 940865BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4995414.00   | 0.33%             | 2029-10-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Transportation Trust Fund Authority                                                              | New Jersey (State of) Transportation Trust Fund Authority, Series 2018 A, Ref. RN                                                       | CUSIP: 6461363N9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2340000 | PA      | $2375165.99   | 0.15%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rib Floater Trust                                                                                                      | Rib Floater Trust, Series 2022-047, VRD RB                                                                                              | CUSIP: 76252PXW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10000000.00  | 0.65%             | 2045-12-01      | Variable      | 3.08%                 | No            |                  2 | On Loan: No      |
| Albuquerque Municipal School District No. 12                                                                           | Albuquerque Municipal School District No. 12, Series 2017, GO Bonds                                                                     | CUSIP: 013595UV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2575000 | PA      | $2624835.26   | 0.17%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut (State of) Housing Finance Authority (Green Bonds)                                                         | Connecticut (State of) Housing Finance Authority (Green Bonds), Series 2024, RB                                                         | CUSIP: 20775HZ97<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500562.05   | 0.10%             | 2027-05-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Martins Ferry (City of), OH                                                                                            | Martins Ferry (City of), OH, Series 2024, GO Notes                                                                                      | CUSIP: 573462EK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1203771.96   | 0.08%             | 2025-12-16      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Oklahoma (State of) Development Finance Authority (Sommerset)                                                          | Oklahoma (State of) Development Finance Authority (Sommerset), Series 2015, RB                                                          | CUSIP: 678908X82<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |    420000 | PA      | $419853.25    | 0.03%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Housing Development Authority (6900 Crandon)                                                       | Illinois (State of) Housing Development Authority (6900 Crandon), Series 2023, RB                                                       | CUSIP: 45203LEL3<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   4570000 | PA      | $4618325.01   | 0.30%             | 2026-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Pasadena (City of), CA                                                                                                 | Pasadena (City of), CA, Series 2015 A, Ref. COP                                                                                         | CUSIP: 702204NQ7<br>LEI: 5493007ZF3ZMBUWLWB58 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000970.00   | 0.07%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gretna Public Schools                                                                                                  | Gretna Public Schools, Series 2022 B, GO Bonds                                                                                          | CUSIP: 803770XB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007632.00   | 0.07%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority (Green Bonds)                                                                    | Metropolitan Transportation Authority (Green Bonds), Series 2016 A2, Ref. RB                                                            | CUSIP: 59261ADQ7<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    145000 | PA      | $145440.08    | 0.01%             | 2025-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Honolulu (City & County of), HI                                                                                        | Honolulu (City & County of), HI, Series 2016 A, RB                                                                                      | CUSIP: 438701J39<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012212.00   | 0.07%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St. Charles (County of), MO Public Water Supply District No. 2                                                         | St. Charles (County of), MO Public Water Supply District No. 2, Series 2016, Ref. COP                                                   | CUSIP: 78764YDG9<br>LEI: 54930038VJHZW7PR1R14 | Long             | DBT              | MUN               | US        |   2255000 | PA      | $2268338.55   | 0.15%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Health Care Facilities Authority (Providence Health & Services)                                  | Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB                                | CUSIP: 93978HFN0<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125072.11    | 0.01%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough (County of), FL School Board (Master Lease Program)                                                       | Hillsborough (County of), FL School Board (Master Lease Program), Series 2015 A, Ref. COP                                               | CUSIP: 43232VSY8<br>LEI: 549300E7JND1K3JLOI29 | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2332828.15   | 0.15%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lubbock (City of), TX                                                                                                  | Lubbock (City of), TX, Series 2025, RB                                                                                                  | CUSIP: 549233HM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1289658.30   | 0.08%             | 2036-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Urban Development Corp.                                                                                 | New York State Urban Development Corp., Series 2015 A, Ref. RB                                                                          | CUSIP: 650035R26<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   4235000 | PA      | $4251846.83   | 0.28%             | 2032-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina (State of) Public Service Authority                                                                     | South Carolina (State of) Public Service Authority, Series 2025 B, Ref. RB                                                              | CUSIP: 8371515X3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028948.80   | 0.07%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York & New Jersey (States of) Port Authority                                                                       | New York & New Jersey (States of) Port Authority, One Hundred Seventy Fifth Series 2012, RB                                             | CUSIP: 73358WJM7<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    480000 | PA      | $480689.62    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St. John the Baptist (Parish of), LA (Marathon Oil Corp.)                                                              | St. John the Baptist (Parish of), LA (Marathon Oil Corp.), Series 2017, Ref. RB                                                         | CUSIP: 79020FBB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4901939.50   | 0.32%             | 2028-07-03      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| Colorado (State of) Regional Transportation District (Fastracks)                                                       | Colorado (State of) Regional Transportation District (Fastracks), Series 2017 A, RB                                                     | CUSIP: 759136UD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2940000 | PA      | $2964496.37   | 0.19%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                                                     | Tennessee Energy Acquisition Corp., Series 2006 C, RB                                                                                   | CUSIP: 880443EE2<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1860167.21   | 0.12%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Baldwin (County of), AL Public Building Authority (DHR)                                                                | Baldwin (County of), AL Public Building Authority (DHR), Series 2007 A, Revenue Wts.                                                    | CUSIP: 057864AV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10005.57     | 0.00%             | 2028-06-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Development Finance Authority (CITGO Petroleum Corp.)                                              | Illinois (State of) Development Finance Authority (CITGO Petroleum Corp.), Series 2002, RB                                              | CUSIP: 451916AH3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    560000 | PA      | $560580.55    | 0.04%             | 2032-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Springfield Public Building Corp.                                                                                      | Springfield Public Building Corp., Series 2000 A, RB                                                                                    | CUSIP: 851010FY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60000.00     | 0.00%             | 2025-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Lake (County of), FL School Board                                                                                      | Lake (County of), FL School Board, Series 2015 B, Ref. COP                                                                              | CUSIP: 50825JLW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2002196.00   | 0.13%             | 2025-06-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fort Smith (City of), AR                                                                                               | Fort Smith (City of), AR, Series 2015, Ref. RB                                                                                          | CUSIP: 348815MG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1134616.39   | 0.07%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Unified School District                                                                                     | Long Beach Unified School District, Series 2012, Ref. GO Bonds                                                                          | CUSIP: 542433NZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $777861.07    | 0.05%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Health & Educational Facilities Authority (Aspirus, Inc. Obligated Group)                         | Wisconsin (State of) Health & Educational Facilities Authority (Aspirus, Inc. Obligated Group), Series 2013, RB                         | CUSIP: 97710B7S5<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100216.10    | 0.01%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Auburn University                                                                                                      | Auburn University, Series 2015 A, Ref. RB                                                                                               | CUSIP: 050589LQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.07%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority                                                                                            | Great Lakes Water Authority, Series 2016 D, Ref. RB                                                                                     | CUSIP: 39081JBE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5049246.50   | 0.33%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina (State of) Municipal Power Agency No. 1 (Catawba)                                                       | North Carolina (State of) Municipal Power Agency No. 1 (Catawba), Series 2015 A, Ref. RB                                                | CUSIP: 658203X41<br>LEI: 549300N3Q65G1ODRFX75 | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1622563.64   | 0.11%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Friendswood Independent School District                                                                                | Friendswood Independent School District, Series 2024, GO Notes                                                                          | CUSIP: 358586PT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1522140.00   | 0.10%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mueller Local Government Corp.                                                                                         | Mueller Local Government Corp., Series 2009, RB                                                                                         | CUSIP: 624757BF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30019.11     | 0.00%             | 2029-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Northern California Energy Authority                                                                                   | Northern California Energy Authority, Series 2024, Ref. RB                                                                              | CUSIP: 664840AL9<br>LEI: 5493001ZIJGWU7HYLH34 | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3762483.84   | 0.25%             | 2030-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland (State of) Health & Higher Educational Facilities Authority (Medstar Health, Inc.)                            | Maryland (State of) Health & Higher Educational Facilities Authority (Medstar Health, Inc.), Series 2015, Ref. RB                       | CUSIP: 574218UZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6840000 | PA      | $6843138.88   | 0.45%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Austin Independent School District                                                                                     | Austin Independent School District, Series 2017, GO Bonds                                                                               | CUSIP: 052430PR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1178856.26   | 0.08%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Housing Finance Corp. (Social Bonds)                                                                           | Florida Housing Finance Corp. (Social Bonds), Series 2022-3, RB                                                                         | CUSIP: 34074MD99<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4173141.60   | 0.27%             | 2054-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ohio (State of) Higher Educational Facility Commission (University of Dayton)                                          | Ohio (State of) Higher Educational Facility Commission (University of Dayton), Series 2018, Ref. RB                                     | CUSIP: 67756DQV1<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2048873.40   | 0.13%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bristol Warren Regional School District                                                                                | Bristol Warren Regional School District, Series 2025, GO Notes                                                                          | CUSIP: 110377DP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12400000 | PA      | $12628161.24  | 0.82%             | 2026-06-04      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Health Facilities Financing Authority (Sutter Health)                                            | California (State of) Health Facilities Financing Authority (Sutter Health), Series 2018 A, RB                                          | CUSIP: 13032URF7<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1696293.89   | 0.11%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri (State of) Health & Educational Facilities Authority (St. Louis University)                                   | Missouri (State of) Health & Educational Facilities Authority (St. Louis University), Series 2015 A, RB                                 | CUSIP: 60636AMM2<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4512588.30   | 0.29%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Piedmont Municipal Power Agency                                                                                        | Piedmont Municipal Power Agency, Series 2021 C, Ref. RB                                                                                 | CUSIP: 720175ZQ4<br>LEI: 549300C7VOBGIG4OD375 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4070363.20   | 0.27%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Portland (City of), ME                                                                                                 | Portland (City of), ME, Series 2016, Ref. RB                                                                                            | CUSIP: 736564DP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005133.50   | 0.07%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Health & Educational Facilities Authority (Aspirus, Inc. Obligated Group)                         | Wisconsin (State of) Health & Educational Facilities Authority (Aspirus, Inc. Obligated Group), Series 2013, RB                         | CUSIP: 97710B7T3<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    800000 | PA      | $801656.96    | 0.05%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Kansas Hospital Authority (KU Health System)                                                             | University of Kansas Hospital Authority (KU Health System), Series 2015, Ref. RB                                                        | CUSIP: 914367DM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004176.60   | 0.13%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland (State of) Health & Higher Educational Facilities Authority                                                   | Maryland (State of) Health & Higher Educational Facilities Authority, Series 2017, Ref. RB                                              | CUSIP: 5742182Y8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3044774.40   | 0.20%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Calplant I, LLC                                                                                                        | Calplant I, LLC                                                                                                                         | CUSIP: 13136CAN3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $14716.19     | 0.00%             | 2025-07-01      | Fixed         | 15.00%                | No            |                  3 | On Loan: No      |
| Denver City & County School District No. 1                                                                             | Denver City & County School District No. 1, Series 2025 A, GO Bonds                                                                     | CUSIP: 249174YT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032364.40   | 0.07%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gainesville (City of), FL                                                                                              | Gainesville (City of), FL, Series 2017 A, RB                                                                                            | CUSIP: 362848UD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1322534.22   | 0.09%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Truckee Meadows Water Authority                                                                                        | Truckee Meadows Water Authority, Series 2016, Ref. RB                                                                                   | CUSIP: 897825GN9<br>LEI: 549300GC367BYY1WT202 | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2821862.54   | 0.18%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Adams & Arapahoe Joint School District No. 28J Aurora                                                                  | Adams & Arapahoe Joint School District No. 28J Aurora, Series 2017 A, Ref. GO Bonds                                                     | CUSIP: 0054823C6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2760632.01   | 0.18%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona (State of) Industrial Development Authority (Unity at West Glendale)                                           | Arizona (State of) Industrial Development Authority (Unity at West Glendale), Series 2024, RB                                           | CUSIP: 04062PCA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1116093.99   | 0.07%             | 2026-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania (Commonwealth of) Higher Educational Facilities Authority                                                 | Pennsylvania (Commonwealth of) Higher Educational Facilities Authority, Series 2016 AT-1, RB                                            | CUSIP: 70917TNS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1965000 | PA      | $1998628.81   | 0.13%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utica Community Schools                                                                                                | Utica Community Schools, Series 2016, Ref. GO Bonds                                                                                     | CUSIP: 917661Q37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2024164.32   | 0.13%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Prairie Independent School District                                                                              | Grand Prairie Independent School District, Series 2011, Ref. GO Bonds                                                                   | CUSIP: 3861548G6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $675317.12    | 0.04%             | 2026-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Missouri (State of) Joint Municipal Electric Utility Commission (Prairie State)                                        | Missouri (State of) Joint Municipal Electric Utility Commission (Prairie State), Series 2015 A, Ref. RB                                 | CUSIP: 606092HY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2600000.00   | 0.17%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jackson County Consolidated School District No. 4                                                                      | Jackson County Consolidated School District No. 4, Series 2022, GO Bonds                                                                | CUSIP: 467484RZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1855618.39   | 0.12%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority                                                                             | Metropolitan Washington Airports Authority, Series 2010 D, VRD RB                                                                       | CUSIP: 592647JN2<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10000000.00  | 0.65%             | 2025-06-06      | Variable      | 1.98%                 | No            |                  2 | On Loan: No      |
| Broward (County of), FL                                                                                                | Broward (County of), FL, Series 2013 B, RB                                                                                              | CUSIP: 114894UB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $260390.49    | 0.02%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Transportation Trust Fund Authority                                                              | New Jersey (State of) Transportation Trust Fund Authority, Series 2016 A-1, RN                                                          | CUSIP: 6461362C4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1160196.70   | 0.08%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Winnebago-Boone Etc Counties Community College District No 511 Rock Valley Clg                                         | Winnebago-Boone Etc Counties Community College District No 511 Rock Valley Clg                                                          | CUSIP: 974433JH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1439600.26   | 0.09%             | 2035-01-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Salt River Project Agricultural Improvement & Power District                                                           | Salt River Project Agricultural Improvement & Power District, Series 2015 A, Ref. RB                                                    | CUSIP: 79574CAP8<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |   5060000 | PA      | $5060000.00   | 0.33%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Housing Finance Agency (Social Certificates)                                                     | California (State of) Housing Finance Agency (Social Certificates), Series 2021-2A, Revenue Ctfs.                                       | CUSIP: 13033DAG0<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   3798332 | PA      | $3751348.51   | 0.24%             | 2035-03-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Leander Independent School District                                                                                    | Leander Independent School District, Series 2025, GO Bonds                                                                              | CUSIP: 521841P34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $769042.88    | 0.05%             | 2026-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                                          | Main Street Natural Gas, Inc., Series 2019 C, RB                                                                                        | CUSIP: 56035DCR1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7015731.10   | 0.46%             | 2026-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Health & Educational Facilities Authority (Hospital Sisters Services, Inc.)                       | Wisconsin (State of) Health & Educational Facilities Authority (Hospital Sisters Services, Inc.), Series 2014, Ref. RB                  | CUSIP: 97712DHN9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1801642.14   | 0.12%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Economic Development Authority                                                                   | New Jersey (State of) Economic Development Authority, Series 2004 A, RB                                                                 | CUSIP: 64577BH80<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    820000 | PA      | $821317.41    | 0.05%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Washington (State of)                                                                                                  | Washington (State of), Series 2016 C, GO Bonds                                                                                          | CUSIP: 93974DVF2<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   2760000 | PA      | $2786668.78   | 0.18%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana (State of)                                                                                                   | Louisiana (State of), Series 2022 A, Ref. RB                                                                                            | CUSIP: 546475VU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3075000 | PA      | $3067763.60   | 0.20%             | 2026-05-01      | Floating      | 3.51%                 | No            |                  2 | On Loan: No      |
| Mobile (City of), AL Industrial Development Board (Alabama Power Co. Barry Plant)                                      | Mobile (City of), AL Industrial Development Board (Alabama Power Co. Barry Plant), Series 2008, RB                                      | CUSIP: 607167DX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3499830.25   | 0.23%             | 2026-03-12      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of)                                                                                                   | Wisconsin (State of), Series 2017 A, RB                                                                                                 | CUSIP: 97709TBC9<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1110000.00   | 0.07%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Haven (City of), CT                                                                                                | New Haven (City of), CT, Series 2024, Ref. GO Bonds                                                                                     | CUSIP: 645021DH6<br>LEI: 549300U4OHEAZ124LQ06 | Long             | DBT              | MUN               | US        |    760000 | PA      | $762073.43    | 0.05%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Broward (County of), FL School Board                                                                                   | Broward (County of), FL School Board, Series 2016 A, Ref. COP                                                                           | CUSIP: 115065ZC1<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   4135000 | PA      | $4201304.31   | 0.27%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Public Works Board (California Community Colleges)                                               | California (State of) Public Works Board (California Community Colleges), Series 2005 E, RB                                             | CUSIP: 130684XV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $170219.81    | 0.01%             | 2026-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                                                                 | Ohio Air Quality Development Authority, Series 2009, RB                                                                                 | CUSIP: 677525WD5<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   4610000 | PA      | $4560520.41   | 0.30%             | 2026-02-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Minnesota State Colleges And Universities Foundation                                                                   | Minnesota State Colleges And Universities Foundation, Series 2013 A, RB                                                                 | CUSIP: 60414FMQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000481.40   | 0.07%             | 2025-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DeKalb (County of), GA Housing Authority (Park at 500)                                                                 | DeKalb (County of), GA Housing Authority (Park at 500), Series 2024, RB                                                                 | CUSIP: 240471PE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3173102.08   | 0.21%             | 2034-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Elmhurst Park District                                                                                                 | Elmhurst Park District, Series 2025, GO Bonds                                                                                           | CUSIP: 289443HW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $828317.92    | 0.05%             | 2025-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Albuquerque Municipal School District No. 12                                                                           | Albuquerque Municipal School District No. 12, Series 2017, GO Bonds                                                                     | CUSIP: 013595UX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1730557.33   | 0.11%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Valley Center (City of), KS                                                                                            | Valley Center (City of), KS, Series 2023-1, GO Notes                                                                                    | CUSIP: 919443XF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4820000 | PA      | $4821226.69   | 0.31%             | 2025-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp. (Basis Texas Charter Schools, Inc.)                                           | Arlington Higher Education Finance Corp. (Basis Texas Charter Schools, Inc.), Series 2021, RB                                           | CUSIP: 0418063B4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1093908.64   | 0.07%             | 2026-06-15      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Lee County School Board (The)                                                                                          | Lee County School Board (The), Series 2016, COP                                                                                         | CUSIP: 523494PW6<br>LEI: 54930014H67DITNA1Q29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017860.10   | 0.07%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Atlanta (City of), GA                                                                                                  | Atlanta (City of), GA, Series 2015, Ref. RB                                                                                             | CUSIP: 047870NE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3460000 | PA      | $3470572.03   | 0.23%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                                                                   | District of Columbia, Series 2023 A, GO Bonds                                                                                           | CUSIP: 25476FZV3<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3256046.40   | 0.21%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nassau County Tobacco Settlement Corp.                                                                                 | Nassau County Tobacco Settlement Corp., Series 2006 A-2, RB                                                                             | CUSIP: 63166MBZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2413642 | PA      | $2373849.49   | 0.15%             | 2026-06-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District (The) (No. 4)                                                                           | Black Belt Energy Gas District (The) (No. 4), Series 2019 A-1, RB                                                                       | CUSIP: 09182RAR2<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  20675000 | PA      | $20678461.00  | 1.35%             | 2025-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Lewisville Independent School District                                                                                 | Lewisville Independent School District, Series 2016 B, Ref. GO Bonds                                                                    | CUSIP: 5288287Z3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003618.00   | 0.07%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kansas City (City of), MO Industrial Development Authority (Ward Parkway Center Community Improvement District)        | Kansas City (City of), MO Industrial Development Authority (Ward Parkway Center Community Improvement District), Series 2016 A, Ref. RB | CUSIP: 48503VAG7<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99349.96     | 0.01%             | 2026-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Albuquerque Municipal School District No. 12                                                                           | Albuquerque Municipal School District No. 12, Series 2017, GO Bonds                                                                     | CUSIP: 013595UY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2910000 | PA      | $2959636.74   | 0.19%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Brown (County of), WI Water Authority                                                                          | Central Brown (County of), WI Water Authority, Series 2024 A, Ref. RB                                                                   | CUSIP: 152708CS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1491602.71   | 0.10%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority (The) (Atrium Health)                                                         | Charlotte-Mecklenburg Hospital Authority (The) (Atrium Health), Series 2018 E, RB                                                       | CUSIP: 160853VG9<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4935736.50   | 0.32%             | 2025-10-31      | Variable      | 0.80%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                                                                     | Board of Regents of the University of Texas System, Series 2025 A, RB                                                                   | CUSIP: 91514AMS1<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2564472.50   | 0.17%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of)                                                                                                  | Washington (State of), Series 2015 A-1, GO Bonds                                                                                        | CUSIP: 93974DSL3<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10029941.00  | 0.65%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Detroit (City of), MI                                                                                                  | Detroit (City of), MI, Series 2006, Ref. RB                                                                                             | CUSIP: 251237W66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7825000 | PA      | $7727484.07   | 0.50%             | 2032-07-01      | Floating      | 3.65%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Housing & Mortgage Finance Agency (Social Bonds)                                                 | New Jersey (State of) Housing & Mortgage Finance Agency (Social Bonds), Series 2022 I, RB                                               | CUSIP: 64613AGE6<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   2480000 | PA      | $2554755.88   | 0.17%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Phoenix Civic Improvement Corp.                                                                                        | Phoenix Civic Improvement Corp., Series 2015 A, RB                                                                                      | CUSIP: 71883MKA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1252692.25   | 0.08%             | 2025-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand River Dam Authority                                                                                              | Grand River Dam Authority, Series 2023, RB                                                                                              | CUSIP: 386442ZD2<br>LEI: 549300XGK5KWQHON4Q79 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1939937.22   | 0.13%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Will County Community Unit School District No. 201-U Crete-Monee                                                       | Will County Community Unit School District No. 201-U Crete-Monee, Series 2005, GO Bonds                                                 | CUSIP: 969003UD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1729915.61   | 0.11%             | 2025-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Conroe Independent School District                                                                                     | Conroe Independent School District, Series 2016 A, Ref. GO Bonds                                                                        | CUSIP: 208418A45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7810000 | PA      | $7925823.86   | 0.52%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL (O'Hare International Airport)                                                                   | Chicago (City of), IL (O'Hare International Airport), Series 2016 B, Ref. RB                                                            | CUSIP: 167593UW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6205000 | PA      | $6244401.75   | 0.41%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona (State of) Industrial Development Authority                                                                    | Arizona (State of) Industrial Development Authority, Series 2024, RB                                                                    | CUSIP: 04062PCC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020830.50   | 0.07%             | 2026-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Tulsa Municipal Airport Trust Trustees/OK                                                                              | Tulsa Municipal Airport Trust Trustees/OK, Series 2025, RB                                                                              | CUSIP: 899661EM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094191.80   | 0.07%             | 2035-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Garland (City of), TX                                                                                                  | Garland (City of), TX, Series 2016 B, RB                                                                                                | CUSIP: 366133KX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010692.70   | 0.07%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Carle Foundation (The))                                                         | Illinois (State of) Finance Authority (Carle Foundation (The)), Series 2016 A, Ref. RB                                                  | CUSIP: 45204EPM4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   4300000 | PA      | $4336657.50   | 0.28%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan (State of) Finance Authority (Trinity Health Credit Group)                                                    | Michigan (State of) Finance Authority (Trinity Health Credit Group), Series 2015, Ref. RB                                               | CUSIP: 59447P7W5<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2245000 | PA      | $2248900.46   | 0.15%             | 2028-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Broward (County of), FL School Board                                                                                   | Broward (County of), FL School Board, Series 2015 A, Ref. COP                                                                           | CUSIP: 115065XT6<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003703.20   | 0.13%             | 2025-07-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rio Blanco County School District No. Re-1 Meeker                                                                      | Rio Blanco County School District No. Re-1 Meeker, Series 2014, Ref. GO Bonds                                                           | CUSIP: 767000CW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1686242.35   | 0.11%             | 2025-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                                                                          | Kentucky State Property & Building Commission, Series 2025, RB                                                                          | CUSIP: 49151F4M9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014912.30   | 0.07%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                                               | Public Finance Authority, Series 2016, RB                                                                                               | CUSIP: 74444YAN4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2375000 | PA      | $2400439.81   | 0.16%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida (State of) Board of Governors (University of North Florida)                                                    | Florida (State of) Board of Governors (University of North Florida), Series 2023 A, RB                                                  | CUSIP: 34157XAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1278723.76   | 0.08%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Phoenix Civic Improvement Corp.                                                                                        | Phoenix Civic Improvement Corp., Series 2015 B, Ref. RB                                                                                 | CUSIP: 71883MKF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1840000 | PA      | $1843962.99   | 0.12%             | 2025-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority                                                                         | Washington Metropolitan Area Transit Authority, Series 2017 B, RB                                                                       | CUSIP: 938782FL8<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1145532.99   | 0.07%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                                           | Massachusetts Port Authority, Series 2016, RB                                                                                           | CUSIP: 575896RB3<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001465.90   | 0.07%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa (State of) Finance Authority (Unitypoint Health)                                                                  | Iowa (State of) Finance Authority (Unitypoint Health), Series 2014 C, RB                                                                | CUSIP: 462466EZ2<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   3405000 | PA      | $3411574.03   | 0.22%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Kansas Hospital Authority (KU Health System)                                                             | University of Kansas Hospital Authority (KU Health System), Series 2015, Ref. RB                                                        | CUSIP: 914367DD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2765000 | PA      | $2773411.41   | 0.18%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                                          | Main Street Natural Gas, Inc., Series 2021 C, RB                                                                                        | CUSIP: 56035DCV2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1102236.96   | 0.07%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Miami (City of) & Dade (County of), FL School Board (The)                                                              | Miami (City of) & Dade (County of), FL School Board (The), Series 2025, Ref. COP                                                        | CUSIP: 59333MW68<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3048470.10   | 0.20%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                                                                 | Ohio Air Quality Development Authority, Series 2009, RB                                                                                 | CUSIP: 677525WC7<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1424544.34   | 0.09%             | 2026-02-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax Revenue                                                                                | District of Columbia Income Tax Revenue, Series 2025, RB                                                                                | CUSIP: 25477GXT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3124410.30   | 0.20%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St. Vrain Valley School District Re-1J (Boulder, Larimer & Weld Counties and the City and County of Broomfield)        | St. Vrain Valley School District Re-1J (Boulder, Larimer & Weld Counties and the City and County of Broomfield), Series 2024, GO Bonds  | CUSIP: 101565K73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010944.40   | 0.07%             | 2025-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Oklahoma (The)                                                                                           | University of Oklahoma (The), Series 2014 C, Ref. RB                                                                                    | CUSIP: 91476PKP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500506.55    | 0.03%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland (State of) Health & Higher Educational Facilities Authority (MedStar Health)                                  | Maryland (State of) Health & Higher Educational Facilities Authority (MedStar Health), Series 2017 A, RB                                | CUSIP: 5742182P7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1850239.69   | 0.12%             | 2042-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Lutheran Communities Obligated Group)                                           | Illinois (State of) Finance Authority (Lutheran Communities Obligated Group), Series 2019 A, Ref. RB                                    | CUSIP: 45204E5X2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    440000 | PA      | $294800.00    | 0.02%             | 2025-11-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Denton (City of), TX                                                                                                   | Denton (City of), TX, Series 2017, RB                                                                                                   | CUSIP: 249015C97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3240000 | PA      | $3280990.21   | 0.21%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pima (County of), AZ Industrial Development Authority (Excalibur Charter School (The))                                 | Pima (County of), AZ Industrial Development Authority (Excalibur Charter School (The)), Series 2016, Ref. RB                            | CUSIP: 72177MRJ8<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50021.94     | 0.00%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North East Independent School District                                                                                 | North East Independent School District, Series 2015, Ref. GO Bonds                                                                      | CUSIP: 659155HB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2355000 | PA      | $2361675.48   | 0.15%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allegheny (County of), PA Higher Education Building Authority (Robert Morris University)                               | Allegheny (County of), PA Higher Education Building Authority (Robert Morris University), Series 2017, RB                               | CUSIP: 01728RMR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $204514.19    | 0.01%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Karegnondi Water Authority (Karegnondi Water Pipeline)                                                                 | Karegnondi Water Authority (Karegnondi Water Pipeline), Series 2024, Ref. RB                                                            | CUSIP: 48563UCB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008109.20   | 0.07%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                                          | Main Street Natural Gas, Inc., Series 2022 C, RB                                                                                        | CUSIP: 56035DDP4<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4970477.00   | 0.32%             | 2027-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Dallas (City of), TX                                                                                                   | Dallas (City of), TX, Series 2015 A, Ref. RB                                                                                            | CUSIP: 2354166T6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3835000 | PA      | $3850793.68   | 0.25%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Scioto (County of), OH (Southern Ohio Medical Center)                                                                  | Scioto (County of), OH (Southern Ohio Medical Center), Series 2016, Ref. RB                                                             | CUSIP: 808878GY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2517928.00   | 0.16%             | 2033-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand (County of), UT School District Local Building Authority                                                         | Grand (County of), UT School District Local Building Authority, Series 2019, RB                                                         | CUSIP: 385375AT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2040000 | PA      | $2050169.40   | 0.13%             | 2038-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lamar Consolidated Independent School District                                                                         | Lamar Consolidated Independent School District, Series 2018, GO Bonds                                                                   | CUSIP: 513174XP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006684.30   | 0.07%             | 2043-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas (State of) Water Development Board (State Water Implementation Fund)                                             | Texas (State of) Water Development Board (State Water Implementation Fund), Series 2015 A, RB                                           | CUSIP: 882854WS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2875000 | PA      | $2890092.03   | 0.19%             | 2031-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Farmington (City of), NM (Public Service Co. of New Mexico San Juan)                                                   | Farmington (City of), NM (Public Service Co. of New Mexico San Juan), Series 2010, Ref. RB                                              | CUSIP: 311450GC8<br>LEI: 5493000GWMTI2L4AZA61 | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3728077.82   | 0.24%             | 2028-06-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Florence & Darlington (Counties of), SC Commission for Technical Education                                             | Florence & Darlington (Counties of), SC Commission for Technical Education, Series 2014, Ref. RB                                        | CUSIP: 340168BK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $620919.40    | 0.04%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Power Generation Agency                                                                                         | Public Power Generation Agency, Series 2024, RB                                                                                         | CUSIP: 744434EX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011303.70   | 0.07%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Health Care Facilities Authority (Providence Health & Services)                                  | Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB                                | CUSIP: 93978HFR1<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    165000 | PA      | $165302.15    | 0.01%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hamilton (County of), OH                                                                                               | Hamilton (County of), OH, Series 2016 A, Ref. RB                                                                                        | CUSIP: 407287ME8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3430000 | PA      | $3509545.82   | 0.23%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority (The) (Carolinas Health Care Systems)                                         | Charlotte-Mecklenburg Hospital Authority (The) (Carolinas Health Care Systems), Series 2013 A, Ref. RB                                  | CUSIP: 160853RP4<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    230000 | PA      | $230316.78    | 0.02%             | 2026-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alamo Community College District                                                                                       | Alamo Community College District, Series 2007, GO Bonds                                                                                 | CUSIP: 011415KX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $590305.74    | 0.04%             | 2033-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Energy Northwest (Columbia Generating Station)                                                                         | Energy Northwest (Columbia Generating Station), Series 2015 A, Ref. RB                                                                  | CUSIP: 29270CJ48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1276847.99   | 0.08%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Carroll GA                                                                                                   | County of Carroll GA, Series 2021, GO Bonds                                                                                             | CUSIP: 144753BA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1274043.63   | 0.08%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| East Carolina University                                                                                               | East Carolina University, Series 2016 A, RB                                                                                             | CUSIP: 271371XE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1043272.68   | 0.07%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of)                                                                                                    | Illinois (State of), Series 2016, GO Bonds                                                                                              | CUSIP: 452152L82<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2014379.00   | 0.13%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCAGO Educational Facilities Corp. for Pickens School District                                                         | SCAGO Educational Facilities Corp. for Pickens School District, Series 2015, Ref. RB                                                    | CUSIP: 80585TCG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1191052.08   | 0.08%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Atlanta (City of), GA Urban Residential Finance Authority (GE Tower Apartments)                                        | Atlanta (City of), GA Urban Residential Finance Authority (GE Tower Apartments), Series 2023 B, RB                                      | CUSIP: 04785VBN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 0.20%             | 2025-06-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Austin (City of), TX                                                                                                   | Austin (City of), TX, Series 2015 A, Ref. RB                                                                                            | CUSIP: 052414PL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5600000 | PA      | $5628748.16   | 0.37%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority (The) (Carolinas Health Care Systems)                                         | Charlotte-Mecklenburg Hospital Authority (The) (Carolinas Health Care Systems), Series 2016, Ref. RB                                    | CUSIP: 160853SR9<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1512987.90   | 0.10%             | 2034-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nuveen AMT-Free Quality Municipal Income Fund                                                                          | Nuveen AMT-Free Quality Municipal Income Fund                                                                                           | CUSIP: 670657774<br>LEI: 549300OTYQOOXS64NI63 | Long             | DBT              | MUN               | US        |   8880000 | PA      | $8880000.00   | 0.58%             | 2025-06-06      | Variable      | 2.42%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp. (Gas)                                                                               | Tennessee Energy Acquisition Corp. (Gas), Series 2023 A-1, Ref. RB                                                                      | CUSIP: 880443JF4<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   7415000 | PA      | $7594154.56   | 0.50%             | 2028-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| RiverSouth Authority                                                                                                   | RiverSouth Authority, Series 2007 A, RB                                                                                                 | CUSIP: 769318CC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400053.56    | 0.03%             | 2027-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Collinsville (City of), IL Area Recreation District                                                                    | Collinsville (City of), IL Area Recreation District, Series 2004, GO Bonds                                                              | CUSIP: 195063CP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $350315.28    | 0.02%             | 2025-12-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Boise State University                                                                                                 | Boise State University, Series 2016 A, Ref. RB                                                                                          | CUSIP: 097464ZE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2024129.40   | 0.13%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maricopa (County of), AZ Industrial Development Authority (Banner Health Obligated Group)                              | Maricopa (County of), AZ Industrial Development Authority (Banner Health Obligated Group), Series 2016, Ref. RB                         | CUSIP: 56682HBY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4935000 | PA      | $5034515.76   | 0.33%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Dormitory Authority (White Plains Hospital Obligated Group)                                        | New York (State of) Dormitory Authority (White Plains Hospital Obligated Group), Series 2024, RB                                        | CUSIP: 65000B7G7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    750000 | PA      | $792577.73    | 0.05%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                                                             | Michigan Finance Authority, Series 2015, RB                                                                                             | CUSIP: 59447TAU7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1340606.62   | 0.09%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL (O'Hare International Airport)                                                                   | Chicago (City of), IL (O'Hare International Airport), Series 2024 B, RB                                                                 | CUSIP: 1675934U3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1097195.70   | 0.07%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District (The) (No. 7)                                                                           | Black Belt Energy Gas District (The) (No. 7), Series 2021, RB                                                                           | CUSIP: 09182TAM9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   8820000 | PA      | $8812546.22   | 0.57%             | 2026-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado (State of) Department of Transportation                                                                       | Colorado (State of) Department of Transportation, Series 2016, COP                                                                      | CUSIP: 19645TAS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1346655.19   | 0.09%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Unified School District                                                                                     | Long Beach Unified School District, Series 2012, Ref. GO Bonds                                                                          | CUSIP: 542433NQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $676035.05    | 0.04%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lewis (County of), WA Public Utility District No. 1                                                                    | Lewis (County of), WA Public Utility District No. 1, Series 2013, Ref. RB                                                               | CUSIP: 527839DS0<br>LEI: 549300GUJWR2C89RVS54 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5020299.50   | 0.33%             | 2032-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Miami-Dade (County of), FL                                                                                             | Miami-Dade (County of), FL, Series 2015 B, Ref. GO Bonds                                                                                | CUSIP: 59333FPK0<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1107531.56   | 0.07%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp. (Green Bonds)                                                            | Rhode Island Housing & Mortgage Finance Corp. (Green Bonds), Series 2024 1-A, RB                                                        | CUSIP: 76221SEX5<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3006487.50   | 0.20%             | 2027-10-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| DeKalb (County of), GA Development Authority (The Globe Academy, Inc.)                                                 | DeKalb (County of), GA Development Authority (The Globe Academy, Inc.), Series 2024 A, RB                                               | CUSIP: 240463JZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $657911.90    | 0.04%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dallas (City of), TX                                                                                                   | Dallas (City of), TX, Series 2017, RB                                                                                                   | CUSIP: 23542JFM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1807603.97   | 0.12%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pinal County Electric District No. 3                                                                                   | Pinal County Electric District No. 3, Series 2016, Ref. RB                                                                              | CUSIP: 722021CF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1113919.40   | 0.07%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern Tobacco Securitization Corp.                                                                                  | Northern Tobacco Securitization Corp., Series 2021 B-1, Ref. RB                                                                         | CUSIP: 66585VCA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $904905.88    | 0.06%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sun Devil Energy Center LLC (Arizona State University)                                                                 | Sun Devil Energy Center LLC (Arizona State University), Series 2008, Ref. RB                                                            | CUSIP: 866690AW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $155179.15    | 0.01%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ames (City of), IA (Mary Greely Medical Center)                                                                        | Ames (City of), IA (Mary Greely Medical Center), Series 2016, Ref. RB                                                                   | CUSIP: 030850FH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4430000 | PA      | $4476320.52   | 0.29%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DeSoto Independent School District                                                                                     | DeSoto Independent School District, Series 2015 B, Ref. GO Bonds                                                                        | CUSIP: 241722BT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005927.80   | 0.13%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of)                                                                                                  | Washington (State of), Series 2016 B, GO Bonds                                                                                          | CUSIP: 93974DZR2<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1228598.12   | 0.08%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Dormitory Authority (New York University)                                                          | New York (State of) Dormitory Authority (New York University), Series 2015 A, Ref. RB                                                   | CUSIP: 64990BFL2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2640000 | PA      | $2641860.94   | 0.17%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of)                                                                                                    | Illinois (State of), Series 2019 A, GO Bonds                                                                                            | CUSIP: 4521525F4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2935000 | PA      | $3004710.07   | 0.20%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire (State of) Business Finance Authority (Social Bonds)                                                     | New Hampshire (State of) Business Finance Authority (Social Bonds), Series 2022-2A, RB                                                  | CUSIP: 63607WAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5232172 | PA      | $4924663.15   | 0.32%             | 2036-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** AIM Counselor Series Trust (Invesco Counselor Series Trust)

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Principal Financial Officer and Treasurer