# EDGAR Filing Document

**Accession Number:** 0000866700
**File Stem:** 0001145549-23-002500
**Filing Date:** 2023-1
**Character Count:** 79867
**Document Hash:** eb2985a49f1d6de3ee52abbdfa79dcb8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-002500.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001145549-23-002500

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Municipal Securities Income Trust
- **CENTRAL INDEX KEY:** 0000866700
- **IRS NUMBER:** 251695291
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06165
- **FILM NUMBER:** 23548031

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED MUNICIPAL SECURITIES INCOME TRUST
- **DATE OF NAME CHANGE:** 19991029

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MUNICIPAL SECURITIES INCOME TRUST
- **DATE OF NAME CHANGE:** 19921023

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

## Series and Classes Contracts Data

### Federated Hermes Pennsylvania Municipal Income Fund (Series ID: S000009094)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000024704 | Class A Shares       | PAMFX           |
| C000188345 | Class T Shares       |  |
| C000219237 | Institutional Shares | PAMIX           |

## Nport-Ex

Federated Hermes Pennsylvania Municipal Income Fund

Portfolio of Investments

November 30, 2022 (unaudited)

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—98.0% |  |
|  | **Pennsylvania—94.9%** |  |
| $1000000 | Allegheny County, PA Airport Authority (Pittsburgh International Airport), Airport Revenue Bonds (Series 2021A), <br> 4.000%, 1/1/2040<br>| $941929 |
| &nbsp;&nbsp; 1000000 | Allegheny County, PA Airport Authority (Pittsburgh International Airport), Airport Revenue Bonds (Series 2021A), <br> 5.000%, 1/1/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1018625 |
| &nbsp;&nbsp; 1000000 | Allegheny County, PA Airport Authority (Pittsburgh International Airport), Airport Revenue Bonds (Series 2021A), <br> 5.000%, 1/1/2056<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1013527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 530000 | Allegheny County, PA Higher Education Building Authority (Carnegie Mellon University), Revenue Bonds (Series 2019A), <br> 5.000%, 8/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 581864 |
| &nbsp;&nbsp; 2000000 | Allegheny County, PA Hospital Development Authority (Allegheny Health Network Obligated Group), Revenue Bonds <br> (Series 2018A), 5.000%, 4/1/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 860000<br><sup>1</sup> <br>| Allegheny County, PA Hospital Development Authority (UPMC Health System), Revenue Bonds (Series 2017D-2) FRNs, <br> 2.600% (SIFMA 7-day +0.700%), Mandatory Tender 5/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 836600 |
| &nbsp;&nbsp; 1000000 | Allegheny County, PA Port Authority, Special Revenue Transportation Refunding Bonds (Series 2020), 5.000%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1116037 |
| &nbsp;&nbsp; 1000000 | Allegheny County, PA Sanitation Authority, Sewer Revenue Bonds (Series 2015), 5.000%, 12/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1043099 |
| &nbsp;&nbsp; 2000000 | Allegheny County, PA Sanitation Authority, Sewer Revenue Bonds (Series 2015), 5.000%, 12/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2083883 |
| &nbsp;&nbsp; 1000000 | Allegheny County, PA, UT GO Bonds (Series C-77), 5.000%, 11/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1071038 |
| &nbsp;&nbsp; 2000000 | Allegheny County, PA, UT GO Refunding Bonds (Series C-76), 5.000%, 11/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2115425 |
| &nbsp;&nbsp; 1450000 | Bucks County, PA IDA (Pennswood Village), Revenue Bonds (Series 2018A), 5.000%, 10/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1449900 |
| &nbsp;&nbsp; 1000000 | Canon McMillan, PA School District, GO Bonds (Series 2017), (Assured Guaranty Municipal Corp. INS)/(Pennsylvania <br> School District Intercept Program GTD), 5.000%, 12/1/2041<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1060525 |
| &nbsp;&nbsp; 1000000 | Capital Region Water, PA, Water Revenue Refunding Bonds (Series 2018), 5.000%, 7/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1094016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 500000 | Centre County, PA Hospital Authority (Mount Nittany Medical Center), Hospital Revenue Bonds (Series 2016A), <br> (United States Treasury PRF 11/15/2025@100), 5.000%, 11/15/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 533576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 500000 | Centre County, PA Hospital Authority (Mount Nittany Medical Center), Hospital Revenue Bonds (Series 2018A), <br> 5.000%, 11/15/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 500000 | Centre County, PA, UT GO Bonds (Series 2022), 5.000%, 7/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 553986 |
| &nbsp;&nbsp; 1000000 | Chartiers Valley, PA School District, UT GO Bonds (Series 2015B), (United States Treasury PRF 4/15/2025@100), <br> 5.000%, 10/15/2040<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1054615 |
| &nbsp;&nbsp; 1000000 | Chester County, PA HEFA (Main Line Health Systems), Revenue Bonds (Series 2017A), 5.000%, 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1033024 |
| &nbsp;&nbsp; 1250000 | Chester County, PA IDA (Avon Grove Charter School), Revenue Bonds (Series 2017A), (Original Issue Yield: 4.820%), <br> 4.750%, 12/15/2037<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1236391 |
| &nbsp;&nbsp; 2000000 | Clairton Municipal Authority, PA, Sewer Revenue Bonds (Series 2012B), 5.000%, 12/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2001204 |
| &nbsp;&nbsp; 3000000 | Commonwealth Financing Authority of PA (Commonwealth of Pennsylvania), Tobacco Master Settlement Payment Revenue <br> Bonds (Series 2018), (Original Issue Yield: 4.035%), (Assured Guaranty Municipal Corp. INS), 4.000%, 6/1/2039<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3006981 |
| &nbsp;&nbsp; 2000000 | Commonwealth of Pennsylvania, UT GO Bonds (2nd Series 2016), 5.000%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2162349 |
| &nbsp;&nbsp; 2000000 | Commonwealth of Pennsylvania, UT GO Refunding Bonds (Series 2019), 5.000%, 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2190368 |
| &nbsp;&nbsp; 1000000 | Commonwealth of Pennsylvania, UT GO Refunding Bonds (Series 2019), 5.000%, 7/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1130341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90000 | Cumberland County, PA Municipal Authority (Diakon Lutheran Social Ministries), Revenue Bonds (Series 2015), <br> (United States Treasury PRF 1/1/2025@100), 5.000%, 1/1/2038<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 365000 | Cumberland County, PA Municipal Authority (Diakon Lutheran Social Ministries), Revenue Bonds (Series 2015), <br> (United States Treasury PRF 1/1/2025@100), 5.000%, 1/1/2038<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 381862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 450000 | Cumberland County, PA Municipal Authority (Diakon Lutheran Social Ministries), Revenue Bonds (Series 2015), <br> 5.000%, 1/1/2038<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 453427 |
| &nbsp;&nbsp; 1000000 | Cumberland County, PA Municipal Authority (Dickinson College), Revenue Bonds (Series 2016), 5.000%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1059205 |
| &nbsp;&nbsp; 2000000 | Cumberland County, PA Municipal Authority (Penn State Health Obligated Group), Revenue Bonds (Series 2019), <br> 4.000%, 11/1/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1862007 |
| &nbsp;&nbsp; 1700000 | Delaware County, PA Authority (Haverford College), Revenue Bonds (Series 2017A), 5.000%, 10/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1790435 |
| &nbsp;&nbsp; 1000000 | Delaware County, PA Authority (Villanova University), Revenue Bonds (Series 2015), 5.000%, 8/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1036368 |
| &nbsp;&nbsp; 1250000 | Delaware County, PA Regional Water Quality Control Authority, Sewer Revenue Bonds (Series 2015), 5.000%, 5/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1295384 |
| &nbsp;&nbsp; 1750000 | Delaware River Joint Toll Bridge Commission, Revenue Bonds (Series 2017), 5.000%, 7/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1821098 |
| &nbsp;&nbsp; 1130000 | Delaware River Port Authority, Revenue Bonds (Series 2018A), 5.000%, 1/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1244130 |

---

**1**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Pennsylvania—continued** |  |
| $250000 | Delaware River Port Authority, Revenue Bonds (Series 2018A), 5.000%, 1/1/2038 | $269516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 200000 | Delaware River Port Authority, Revenue Bonds (Series 2018A), 5.000%, 1/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 500000 | Delaware River Port Authority, Revenue Bonds (Series 2018A), 5.000%, 1/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 535364 |
| &nbsp;&nbsp; 1000000 | DuBois Hospital Authority (Penn Highlands Healthcare), Hospital Revenue Bonds (Series 2020), 4.000%, 7/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850243 |
| &nbsp;&nbsp; 1000000 | Erie, PA Water Authority, Water Revenue Bonds (Series 2016), (United States Treasury PRF 12/1/2026@100), <br> 5.000%, 12/1/2043<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1088418 |
| &nbsp;&nbsp; 2260000 | Geisinger Authority, PA Health System (Geisinger Health System), Revenue Bonds (Series 2014A), 5.000%, 6/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2281311 |
| &nbsp;&nbsp; 1500000 | Great Valley School District, PA, GO Bonds (Series 2022), (Pennsylvania School District Intercept Program GTD), <br> 4.000%, 9/1/2040<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1519401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 785000 | Lancaster County, PA Hospital Authority (Masonic Villages), Health Center Revenue Bonds (Series 2015), <br> 5.000%, 11/1/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 797248 |
| &nbsp;&nbsp; 1000000 | Lancaster County, PA Solid Waste Management Authority, Guaranteed Authority Bonds (Series 2013B), (Dauphin County, <br> PA GTD), 5.000%, 12/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1022623 |
| &nbsp;&nbsp; 1000000 | Lancaster, PA IDA (Landis Homes Retirement Community), Health Center Revenue Refunding Bonds (Series 2021), <br> 4.000%, 7/1/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 761552 |
| &nbsp;&nbsp; 1000000 | Lancaster, PA, UT GO Bonds (Series 2018), (Build America Mutual Assurance INS), 4.000%, 11/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 980412 |
| &nbsp;&nbsp; 1000000 | Lehigh County, PA General Purpose Authority (Lehigh Valley Academy Regional Charter School), Charter School Revenue <br> Bonds (Series 2022), 4.000%, 6/1/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 852688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 500000 | Luzerne County, PA IDA (Luzerne County, PA), Guaranteed Lease Revenue Bonds (Series 2017), (Assured Guaranty <br> Municipal Corp. INS), 5.000%, 12/15/2022<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500411 |
| &nbsp;&nbsp; 1000000 | Luzerne County, PA, UT GO Guaranteed Bonds (Series 2017A), (Assured Guaranty Municipal Corp. INS), <br> 5.000%, 12/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1101078 |
| &nbsp;&nbsp; 1260000 | Monroe County, PA, UT GO Bonds (Series 2021A), 4.000%, 7/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1271386 |
| &nbsp;&nbsp; 1500000 | Montgomery County, PA Higher Education & Health Authority Hospital (Thomas Jefferson University), Revenue Refunding <br> Bonds (Series 2019), 4.000%, 9/1/2049<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1323259 |
| &nbsp;&nbsp; 1000000 | Montgomery County, PA IDA (ACTS Retirement Life Communities, Inc.), Retirement Communities Revenue Bonds <br> (Series 2020C), 5.000%, 11/15/2045<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 961689 |
| &nbsp;&nbsp; 2000000 | Montgomery County, PA, UT GO Bonds (Series 2019A), 5.000%, 7/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2209239 |
| &nbsp;&nbsp; 1000000 | Montgomery County, PA, UT GO Bonds (Series 2022), 5.000%, 7/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1175850 |
| &nbsp;&nbsp; 1000000 | Mount Lebanon, PA Hospital Authority (St. Clair Memorial Hospital), Hospital Revenue Bonds (Series 2018), <br> 5.000%, 7/1/2038<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1051056 |
| &nbsp;&nbsp; 1750000 | Northampton County, PA General Purpose Authority (Lafayette College), College Refunding and Revenue Bonds <br> (Series 2017), 5.000%, 11/1/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1817161 |
| &nbsp;&nbsp; 1000000 | Northampton County, PA General Purpose Authority (St. Luke's University Health Network), Hospital Revenue Bonds <br> (Series 2018A), (Original Issue Yield: 4.090%), 4.000%, 8/15/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 923375 |
| &nbsp;&nbsp; 1000000 | Pennsylvania Economic Development Financing Authority (National Gypsum Co.), Exempt Facilities Refunding Revenue <br> Bonds (Series 2014), 5.500%, 11/1/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 989901 |
| &nbsp;&nbsp; 2000000 | Pennsylvania Economic Development Financing Authority (Pennsylvania Rapid Bridge Replacement), Tax-Exempt Private <br> Activity Revenue Bonds (Series 2015), 5.000%, 6/30/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2003861 |
| &nbsp;&nbsp; 2200000 | Pennsylvania Economic Development Financing Authority (Presbyterian Homes Obligated Group, PA), Revenue Refunding <br> Bonds (Series 2021), 4.000%, 7/1/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1812323 |
| &nbsp;&nbsp; 1500000 | Pennsylvania Economic Development Financing Authority (UPMC Health System), Revenue Bonds (Series 2014A), <br> 5.000%, 2/1/2045<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1512530 |
| &nbsp;&nbsp; 2000000 | Pennsylvania Economic Development Financing Authority, Junior Guaranteed Parking Revenue Bonds (Series 2013B-1), <br> (Dauphin County, PA GTD), 6.000%, 7/1/2053<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2048629 |
| &nbsp;&nbsp; 1950000 | Pennsylvania State Higher Education Facilities Authority (University of Pennsylvania Health System), Revenue Bonds <br> (Series 2017A), 5.000%, 8/15/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2027706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 500000 | Pennsylvania State Higher Education Facilities Authority (University of Pennsylvania), Revenue Bonds (Series 2017A), <br> 5.000%, 8/15/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525298 |
| &nbsp;&nbsp; 1000000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2015B), 5.000%, 12/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1026003 |
| &nbsp;&nbsp; 2000000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2018A), 5.000%, 12/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2071606 |
| &nbsp;&nbsp; 1000000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2019A), 5.000%, 12/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1061141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 400000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2022B), 5.000%, 12/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 449168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 500000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2022B), 5.000%, 12/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 556441 |
| &nbsp;&nbsp; 1000000 | Pennsylvania State Turnpike Commission, Turnpike Subordinate Revenue Bonds (Series 2019A), (Assured Guaranty <br> Municipal Corp. GTD), 4.000%, 12/1/2049<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 958466 |

---

**2**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Pennsylvania—continued** |  |
| $2500000 | Pennsylvania State Turnpike Commission, Turnpike Subordinate Revenue Bonds (Series 2021A), 4.000%, 12/1/2046 | $2381954 |
| &nbsp;&nbsp; 1970000 | Pennsylvania State University, Revenue Bonds (Series 2017A), 5.000%, 9/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2114811 |
| &nbsp;&nbsp; 1000000 | Pennsylvania State University, Revenue Bonds (Series 2018), 5.000%, 9/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1093832 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA Airport System, Airport Revenue and Refunding Bonds (Series 2017A), 5.000%, 7/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1026351 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA Airport System, Airport Revenue Refunding Bonds (Series 2020A), 4.000%, 7/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 966797 |
| &nbsp;&nbsp; 2000000 | Philadelphia, PA Airport System, Refunding Revenue Bonds (Series 2017B), 5.000%, 7/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020429 |
| &nbsp;&nbsp; 1040000 | Philadelphia, PA Authority for Industrial Development (Children's Hospital of Philadelphia), Hospital Revenue Bonds <br> (Series 2014A), (United States Treasury PRF 7/1/2024@100), 5.000%, 7/1/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1076397 |
| &nbsp;&nbsp; 1210000 | Philadelphia, PA Authority for Industrial Development (New Foundations Charter School), Revenue Bonds (Series 2012), <br> (United States Treasury PRF 12/15/2022@100), 6.625%, 12/15/2041<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1211771 |
| &nbsp;&nbsp; 1295000 | Philadelphia, PA Authority for Industrial Development (PresbyHomes Germantown/Morrisville), Senior Living Revenue <br> Bonds (Series 2005A), 5.625%, 7/1/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1321323 |
| &nbsp;&nbsp; 2000000 | Philadelphia, PA Gas Works, 1998 General Ordinance-Fifteenth Series Revenue Refunding Bonds, 5.000%, 8/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2079970 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA School District, LT GO Bonds (Series 2018B), (Pennsylvania School District Intercept Program GTD), <br> 5.000%, 9/1/2043<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050680 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA Water & Wastewater System, Revenue Bonds (Series 2019B), 5.000%, 11/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1045683 |
| &nbsp;&nbsp; 1010000 | Philadelphia, PA Water & Wastewater System, Revenue Bonds (Series 2020A), 5.000%, 11/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1092837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 500000 | Philadelphia, PA, GO Bonds (Series 2019B), 5.000%, 2/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 531364 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA, GO Bonds (Series 2021A), 5.000%, 5/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1109201 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA, UT GO Bonds (Series 2017A), 5.000%, 8/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1069247 |
| &nbsp;&nbsp; 1000000 | Pittsburgh & Allegheny County, PA Sports & Exhibition Authority, Hotel Room Excise Tax Revenue Refunding Bonds <br> (2022A), (Assured Guaranty Municipal Corp. INS), 5.000%, 2/1/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1090749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 655000 | Pittsburgh & Allegheny County, PA Sports & Exhibition Authority, Parking System Revenue Bonds (Series 2017), <br> 5.000%, 12/15/2037<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 698044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 390000 | Pittsburgh, PA Public Parking Authority, Parking System Revenue Refunding Bonds (Series 2015A), (United States Treasury <br> PRF 6/1/2025@100), 5.000%, 12/1/2025<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 610000 | Pittsburgh, PA Public Parking Authority, Parking System Revenue Refunding Bonds (Series 2015A), 5.000%, 12/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635244 |
| &nbsp;&nbsp; 1500000 | Pittsburgh, PA Water & Sewer Authority, Water and Sewer System First Lien Revenue Bonds (Series 2019A), (Assured <br> Guaranty Municipal Corp. INS), 5.000%, 9/1/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1590584 |
| &nbsp;&nbsp; 1000000 | Scranton, PA School District, GO Bonds (Series 2017E), (Build America Mutual Assurance INS), 5.000%, 12/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1074542 |
| &nbsp;&nbsp; 1750000 | St. Mary Hospital Authority, PA (Trinity Healthcare Credit Group), Revenue Refunding Bonds (Remarket 1/9/18), <br> 5.000%, 11/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1912674 |
| &nbsp;&nbsp; 1000000 | Swarthmore Borough Authority, PA (Swarthmore College), Revenue Bonds (Series 2018), 5.000%, 9/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1079750 |
| &nbsp;&nbsp; 1000000 | Union County, PA Higher Educational Facilities Financing Authority (Bucknell University), University Revenue Bonds <br> (Series 2015B), 5.000%, 4/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1037862 |
| &nbsp;&nbsp; 1000000 | West View, PA Municipal Authority Water Revenue, Revenue Bonds (Series 2014), (United States Treasury PRF <br> 11/15/2024@100), 5.000%, 11/15/2039<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1044713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 740000 | Westmoreland County, PA Municipal Authority, Municipal Service Revenue Bonds (Series 2016), (Build America Mutual <br> Assurance INS), 5.000%, 8/15/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 761488 |
| &nbsp;&nbsp; 1685000 | Wilkes-Barre, PA Finance Authority (University of Scranton), Revenue Bonds (Series 2015A), 5.000%, 11/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1750645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 825000 | Wilkes-Barre, PA Finance Authority (University of Scranton), Revenue Bonds (Series 2015A), 5.000%, 11/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 854219 |
| &nbsp;&nbsp; 1895000 | York County, PA, UT GO Bonds (Series 2013), (United States Treasury PRF 6/1/2023@100), 5.000%, 6/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1918697 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 121506958 |
|  | **Puerto Rico—2.5%** |  |
| &nbsp;&nbsp; 1000000 | Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 4.000%, 7/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 833143 |
| &nbsp;&nbsp; 1000000 | Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A), (Original Issue Yield: 5.154%), <br> 5.000%, 7/1/2058<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 500000 | Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A-1), 4.750%, 7/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 455602 |
| &nbsp;&nbsp; 1000000 | Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A-2), 4.784%, 7/1/2058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 911607 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3146663 |

---

**3**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Virgin Islands—0.6%** |  |
| $750000 | Matching Fund Special Purpose Securitization Corporation, VI, Matching Fund Securitization Bonds (Series 2022A), <br> 5.000%, 10/1/2032<br>| $771496 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL MUNICIPAL BONDS<br> (IDENTIFIED COST $130,937,878)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 125425117 |
| <sup>1</sup> <br>| SHORT-TERM MUNICIPALS—1.5% |  |
|  | **Pennsylvania—1.5%** |  |
| &nbsp;&nbsp; 1200000 | Delaware County, PA IDA (United Parcel Service, Inc.), (Series 2015) Daily VRDNs, (United Parcel Service, Inc. GTD), <br> 1.100%, 12/1/2022<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 400000 | Philadelphia, PA, (Series 2009B) Weekly VRDNs, (Barclays Bank PLC LOC), 1.870%, 12/1/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 350000 | Southcentral PA, General Authority (Wellspan Health Obligated Group), (Series 2019E) Daily VRDNs, (U.S. Bank, N.A. LIQ), <br> 1.070%, 12/1/2022<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SHORT-TERM MUNICIPALS<br> (IDENTIFIED COST $1,950,000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1950000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT IN SECURITIES—99.5%<br> (IDENTIFIED COST $132,887,878)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 127375117 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OTHER ASSETS AND LIABILITIES - NET—0.5%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 624925 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL NET ASSETS—100% | $128000042 |

---

Securities that are subject to the federal alternative minimum tax (AMT) represent 6.8% of the Fund's portfolio as calculated based upon total market value.

The average notional value of short futures contracts held by the Fund throughout the period was $753,125. This is based on amounts held as of each month-end throughout the three-month fiscal period.

*Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.*

*Assets, other than investments in securities, less liabilities.*

Note: The categories of investments are shown as a percentage of total net assets at November 30, 2022.

**Investment Valuation**

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

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

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

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

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

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

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

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

**4**

------

**Fair Valuation Procedures**

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

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

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

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

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

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

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

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

As of November 30, 2022, all investments of the Fund utilized Level 2 inputs in valuing the Fund's assets carried at fair value.

The following acronym(s) are used throughout this portfolio:

---

| | |
|:---|:---|
| FRN | —Floating Rates Notes |
| GO | —General Obligation |
| GTD | —Guaranteed |
| HEFA | —Health and Education Facilities Authority |
| IDA | —Industrial Development Authority |
| INS | —Insured |
| LIQ | —Liquidity Agreement |
| LOC | —Letter of Credit |
| LT | —Limited Tax |
| PRF | —Pre-refunded |
| SIFMA | —Securities Industry and Financial Markets Association |
| UT | —Unlimited Tax |
| VRDNs | —Variable Rate Demand Notes |

---

**5**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-06165

- **c. CIK number of Registrant:** 0000866700

- **d. LEI of Registrant:** 254900RAQHES8ITD1U55

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

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

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

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

  - **Telephone number:** 8003417400

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

- **a. Name of Series:** Federated Hermes Pennsylvania Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000009094

- **c. LEI of Series:** ZPBNK4GWWRBOLYCCE807

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $129285245.06

**Total Liabilities:** $1083649.40

**Net Assets:** $128201595.66

**Delayed Delivery Securities:** $982113.00

**Cash Not Reported:** $301.81

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -140.715819500000 | **1-Year:** -5276.038544700000 | **5-Year:** -25435.296233700000 | **10-Year:** -28311.570925700000 | **30-Year:** -7781.343382800000

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

- **3-Month:** -5.196860600000 | **1-Year:** -192.141629200000 | **5-Year:** -850.893150300000 | **10-Year:** -2101.467575100000 | **30-Year:** -797.884834300000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000024704 | -3.50%               | -0.93%               | 4.21%                |
| Class ID C000219237 | -3.58%               | -0.80%               | 4.23%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-4871066.01                               |
| Month 2  | $-684913.55              | $-863336.02                                |
| Month 3  | $0.00                    | $5060642.71                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| WILKES-BARRE PA FIN AUTH REVEN | WILKES-BARRE FINANCE AUTHORITY                                   | CUSIP: 968254BR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1750645.24   | 1.37%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH   | Cumberland County Municipal Authority                            | CUSIP: 230614SL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $453426.71    | 0.35%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEISINGER PA AUTH HLTH SYS REV | GEISINGER AUTHORITY                                              | CUSIP: 368497HK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2260000 | PA      | $2281310.67   | 1.78%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE RIVER PORT AUTH PA &  | Delaware River Port Authority                                    | CUSIP: 246352HC5<br>LEI: 549300OBM31KJO8JR048 | Long             | DBT              | MUN               | US        |    200000 | PA      | $214909.16    | 0.17%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOUNT LEBANON PA HOSP AUTH     | Mount Lebanon Hospital Authority                                 | CUSIP: 621820DF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051056.30   | 0.82%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA | PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY             | CUSIP: 70917SS79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2027705.55   | 1.58%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE RIVER PORT AUTH PA &  | Delaware River Port Authority                                    | CUSIP: 246352HB7<br>LEI: 549300OBM31KJO8JR048 | Long             | DBT              | MUN               | US        |    250000 | PA      | $269515.58    | 0.21%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH   | Cumberland County Municipal Authority                            | CUSIP: 230614RZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $381861.83    | 0.30%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                 | CUSIP: 709225GC4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    400000 | PA      | $449167.68    | 0.35%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUBOIS PA HOSP AUTH            | DuBois Hospital Authority                                        | CUSIP: 263804CJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $850243.40    | 0.66%             | 2050-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SCRANTON PA SCH DIST           | SCRANTON SCHOOL DISTRICT/PA                                      | CUSIP: 810827XH3<br>LEI: 549300SDNGI3OKNOUW62 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074542.40   | 0.84%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA            | CUSIP: 61360PCM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $961689.40    | 0.75%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA REGL WTR QUAL | DELAWARE COUNTY REGIONAL WATER QUALITY CONTROL AUTHORITY         | CUSIP: 246045MN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1295384.25   | 1.01%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA SOL WST MGMT | LANCASTER COUNTY SOLID WASTE MANAGEMENT AUTHORITY                | CUSIP: 514059AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022623.40   | 0.80%             | 2033-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA INDL DEV AUTH     | Lancaster Industrial Development Authority                       | CUSIP: 51434NAS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $761552.30    | 0.59%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY PA                 | County of Monroe PA                                              | CUSIP: 610767UE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1271385.86   | 0.99%             | 2036-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA GAS WKS REVENU | Philadelphia Gas Works Co                                        | CUSIP: 71783MAY1<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2079970.20   | 1.62%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUT | Allegheny County Hospital Development Authority                  | CUSIP: 01728A5V4<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |    860000 | PA      | $836600.00    | 0.65%             | 2047-11-15      | Variable      | 2.60%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT                | CUSIP: 717824AL0<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1321322.82   | 1.03%             | 2035-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                | City of Philadelphia PA                                          | CUSIP: 717813LJ6<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.31%             | 2031-08-01      | Variable      | 1.87%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH  | CHESTER CO INDL DEV-A                                            | CUSIP: 165588DP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1236390.63   | 0.96%             | 2037-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY            | CUSIP: 70869PHR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1512530.40   | 1.18%             | 2045-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | PENNSYLVANIA TURNPIKE COMMISSION                                 | CUSIP: 709224KX6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026002.80   | 0.80%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA AUTH          | DELAWARE COUNTY AUTHORITY                                        | CUSIP: 245913LV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036368.40   | 0.81%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR | Allegheny County Airport Authority                               | CUSIP: 01728LFF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $941929.20    | 0.73%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHARTIERS VLY PA SCH DIST      | CHARTIERS VALLEY SCHOOL DISTRICT                                 | CUSIP: 161398JB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054614.60   | 0.82%             | 2040-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRE CNTY PA HOSP AUTH       | CENTRE COUNTY HOSPITAL AUTHORITY                                 | CUSIP: 156273HD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510771.95    | 0.40%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                 | CUSIP: 709225GD2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    500000 | PA      | $556440.90    | 0.43%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA              | ALLEGHENY CNTY-C7 5 11/43                                        | CUSIP: 01728VUF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071037.70   | 0.84%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH & ALLEGHENY CNTY PA | PITTSBURGH & ALLEG 5 2/35                                        | CUSIP: 724791BY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090748.90   | 0.85%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURPOS | NORTHAMPTON CO AUTH                                              | CUSIP: 66353RCF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $923374.80    | 0.72%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL REGION WTR PA WTR REVE | CAPITAL REGION WATER                                             | CUSIP: 14045AAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094016.30   | 0.85%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT VLY PA SCH DIST CHESTERC | Great Valley School District                                     | CUSIP: 391358NL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1519401.15   | 1.19%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                 | CUSIP: 709224P60<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $958465.90    | 0.75%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH   | Pittsburgh Water & Sewer Authority                               | CUSIP: 725304VA4<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1590583.65   | 1.24%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ERIE PA WTR AUTH WTR REVENUE   | ERIE CITY WATER AUTHORITY                                        | CUSIP: 295542MW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1088417.90   | 0.85%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLAIRTON PA MUNI AUTH SWR REVE | CLAIRTON MUNICIPAL AUTHORITY                                     | CUSIP: 179630CU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001204.40   | 1.56%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REVENUE   | City of Philadelphia PA Airport Revenue                          | CUSIP: 717817TP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026351.10   | 0.80%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA PUBLIC PKG AUTH  | Public Parking Authority Of Pittsburgh                           | CUSIP: 725259MW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $635243.75    | 0.50%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LUZERNE CNTY PA                | COUNTY OF LUZERNE PA                                             | CUSIP: 550697WB8<br>LEI: 5493001Z1Y4QDISEER29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1101077.80   | 0.86%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YORK CNTY PA                   | COUNTY OF YORK PA                                                | CUSIP: 986370JV7<br>LEI: 549300PBUZSC8WBS4164 | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1918697.16   | 1.50%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                 | CUSIP: 709224K57<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2071606.00   | 1.62%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SWARTHMORE BORO PA AUTH        | SWARTHMORE BOROUGH AUTHORITY                                     | CUSIP: 870000MZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079749.70   | 0.84%             | 2048-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA             | County of Montgomery PA                                          | CUSIP: 613580AV1<br>LEI: 549300H278P9DGB7L217 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2209238.60   | 1.72%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                | City of Philadelphia PA                                          | CUSIP: 717813YV5<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1109201.00   | 0.87%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIEW PA MUNI AUTH WTR REV | WEST VIEW MUNICIPAL AUTHORITY WATER REVENUE                      | CUSIP: 956432RH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044713.30   | 0.81%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTMORELAND CNTY PA MUNI AUTH | Westmoreland County Municipal Authority                          | CUSIP: 961017QS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $761488.12    | 0.59%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH   | CUMBERLAND COUNTY MUNICIPAL AUTHORITY                            | CUSIP: 230614JZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059204.80   | 0.83%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE RIVER PORT AUTH PA &  | Delaware River Port Authority                                    | CUSIP: 246352HD3<br>LEI: 549300OBM31KJO8JR048 | Long             | DBT              | MUN               | US        |    500000 | PA      | $535363.50    | 0.42%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA INDL DEV AUTH | Delaware County Industrial Development Authority/PA              | CUSIP: 245903AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1200000.00   | 0.94%             | 2045-09-01      | Variable      | 0.90%                 | No            |                  2 | On Loan: No      |
| CMWLTH FING AUTH PA TOBACCO MA | COMMONWEALTH FINANCING AUTHORITY                                 | CUSIP: 20282EAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3006980.70   | 2.35%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                      | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $833142.90    | 0.65%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST UNIV           | PENNSYLVANIA ST UN 5 9/35                                        | CUSIP: 709235B38<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1093832.30   | 0.85%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHCENTRL PA GEN AUTH REVENU | General Authority of Southcentral Pennsylvania                   | CUSIP: 84129NML0<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |    350000 | PA      | $350000.00    | 0.27%             | 2035-06-01      | Variable      | 0.93%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HGR EDU BLDG | Allegheny County Higher Education Building Authority             | CUSIP: 01728RMX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $581863.73    | 0.45%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH & ALLEGHENY CNTY PA | SPORTS & EXHIBITION AUTHORITY OF PITTSBURGH AND ALLEGHENY COUNTY | CUSIP: 724792BP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $698043.85    | 0.54%             | 2037-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA PUBLIC PKG AUTH  | Public Parking Authority Of Pittsburgh                           | CUSIP: 725259MQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $411415.45    | 0.32%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REVENUE   | City of Philadelphia PA Airport Revenue                          | CUSIP: 717817VE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $966796.60    | 0.75%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CANON MCMILLAN PA SCH DIST     | CANON MCMILLAN SCHOOL DISTRICT                                   | CUSIP: 138010YC1<br>LEI: 549300TSKWVTE3ZD5Z12 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1060524.60   | 0.83%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST       | SCHOOL DISTRICT OF PHILADELPHIA/THE                              | CUSIP: 717883VH2<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050680.50   | 0.82%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST UNIV           | PENNSYLVANIA STATE UNIVERSITY                                    | CUSIP: 709235YX7<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   1970000 | PA      | $2114811.35   | 1.65%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRE CNTY PA                 | County of Centre PA                                              | CUSIP: 156267MD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $553986.05    | 0.43%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUT | ALLEGHENY HOSP DEV-A                                             | CUSIP: 01728A4A1<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2024273.80   | 1.58%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURPOS | Northampton County General Purpose Authority                     | CUSIP: 66353LDK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1817160.80   | 1.42%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA | Pennsylvania Higher Educational Facilities Authority             | CUSIP: 70917SD59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $525298.25    | 0.41%             | 2046-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                | Commonwealth of Pennsylvania                                     | CUSIP: 70914PQ47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1130340.80   | 0.88%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA                   | LANCASTER                                                        | CUSIP: 514282XX5<br>LEI: 549300BGOEKNNN4HPE68 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $980412.20    | 0.76%             | 2043-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR | Allegheny County Airport Authority                               | CUSIP: 01728LFK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013527.10   | 0.79%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH   | Cumberland County Municipal Authority                            | CUSIP: 230614PC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1862006.80   | 1.45%             | 2044-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA              | COUNTY OF ALLEGHENY PA                                           | CUSIP: 01728VTH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2115424.60   | 1.65%             | 2041-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR | Allegheny County Airport Authority                               | CUSIP: 01728LFJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018624.90   | 0.79%             | 2051-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WSTWTR R | City of Philadelphia PA Water & Wastewater Revenue               | CUSIP: 717893N56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045683.40   | 0.82%             | 2049-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA HLTH & EDU FAC | CHESTER COUNTY HEALTH & EDUCATION FACILITIES AUTHORITY           | CUSIP: 16557HEC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033023.80   | 0.81%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                 | CUSIP: 709224S83<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061140.90   | 0.83%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                | CITY OF PHILADELPHIA PA                                          | CUSIP: 717813VS5<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069247.20   | 0.83%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA AUTH          | DELAWARE COUNTY AUTHORITY                                        | CUSIP: 246003NF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1790435.24   | 1.40%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNION CNTY PA HGR EDUCTNL FACS | UNION COUNTY HIGHER EDUCATIONAL FACILITIES FINANCING AUTHORITY   | CUSIP: 906459FT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037862.40   | 0.81%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRE CNTY PA HOSP AUTH       | CENTRE COUNTY HOSPITAL AUTHORITY                                 | CUSIP: 156273FH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $533575.85    | 0.42%             | 2046-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT                | CUSIP: 7178188A9<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1211770.96   | 0.95%             | 2041-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WSTWTR R | City of Philadelphia PA Water & Wastewater Revenue               | CUSIP: 717893Q38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1092837.27   | 0.85%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT                | CUSIP: 717901AP7<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1076397.09   | 0.84%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEHIGH CNTY PA GEN PURPOSE AUT | Lehigh County General Purpose Authority                          | CUSIP: 52480EAL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $852688.20    | 0.67%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA SAN AUTH     | ALLEGHENY COUNTY SANITARY AUTHORITY                              | CUSIP: 017357A87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2083882.80   | 1.63%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE RIVER PORT AUTH PA &  | Delaware River Port Authority                                    | CUSIP: 246352GW2<br>LEI: 549300OBM31KJO8JR048 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1244130.00   | 0.97%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                | COMMONWEALTH OF PENNSYLVANIA                                     | CUSIP: 70914PE24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2162349.40   | 1.69%             | 2026-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue           | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $946310.70    | 0.74%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                 | CUSIP: 709225BC9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2381954.00   | 1.86%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH   | Cumberland County Municipal Authority                            | CUSIP: 230614QR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $94157.71     | 0.07%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue           | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $911607.30    | 0.71%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                | City of Philadelphia PA                                          | CUSIP: 717813XN4<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    500000 | PA      | $531363.85    | 0.41%             | 2038-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE RIVER PA JT TOLL BRID | DELAWARE RIVER JOINT TOLL BRIDGE COMMISSION                      | CUSIP: 246343LJ4<br>LEI: 549300N6IGAQMI0JLE23 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1821097.95   | 1.42%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATCHING FUND SPL PURPOSE SECU | Matching Fund Special Purpose Securitization Corp                | CUSIP: 57665NAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $771495.75    | 0.60%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA PORT AUTH    | Port Authority of Allegheny County                               | CUSIP: 017343DV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1116036.70   | 0.87%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILKES-BARRE PA FIN AUTH REVEN | WILKES-BARRE FINANCE AUTHORITY                                   | CUSIP: 968254BS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $854218.61    | 0.67%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY            | CUSIP: 70870ECC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2048629.00   | 1.60%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                | Commonwealth of Pennsylvania                                     | CUSIP: 70914PQ21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2190367.80   | 1.71%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY            | CUSIP: 70869PHX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003861.40   | 1.56%             | 2042-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | LANCASTER COUNTY HOSPITAL AUTHORITY/PA                           | CUSIP: 514045F40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $797247.96    | 0.62%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH    | BUCKS CNTY PA IND 5 10/37                                        | CUSIP: 118612MV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1449899.81   | 1.13%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT MARY HOSP AUTH PA HLTH S | St Mary Hospital Authority                                       | CUSIP: 85230MDP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1912674.05   | 1.49%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue           | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $455602.20    | 0.36%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H | Montgomery County Higher Education & Health Authority            | CUSIP: 613603B40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1323259.05   | 1.03%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA SAN AUTH     | ALLEGHENY COUNTY SANITARY AUTHORITY                              | CUSIP: 017357A79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043099.10   | 0.81%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REVENUE   | CITY OF PHILADELPHIA PA AIRPORT REVENUE                          | CUSIP: 717817UM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2020428.80   | 1.58%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA             | County of Montgomery PA                                          | CUSIP: 613580ER6<br>LEI: 549300H278P9DGB7L217 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1175850.30   | 0.92%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FINGA | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY            | CUSIP: 708686DZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $989901.50    | 0.77%             | 2044-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority            | CUSIP: 70869PNK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $1812323.48   | 1.41%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LUZERNE CNTY PA INDL DEV AUTH  | LUZERNE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                  | CUSIP: 55072RBB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500410.60    | 0.39%             | 2022-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-24

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

**Signature:** Stephen Van Meter

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

**Title:** Chief Compliance Officer