# EDGAR Filing Document

**Accession Number:** 0001649227
**File Stem:** 0001752724-23-044353
**Filing Date:** 2023-2
**Character Count:** 47823
**Document Hash:** 94dddaab9b0db3f8a4dd4d47c24d7874
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-044353.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-044353

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Community Development Fund
- **CENTRAL INDEX KEY:** 0001649227
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23080
- **FILM NUMBER:** 23679333

**BUSINESS ADDRESS:**
- **STREET 1:** 6255 CHAPMAN FIELD DRIVE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33156
- **BUSINESS PHONE:** (305) 663-0100

**MAIL ADDRESS:**
- **STREET 1:** 6255 CHAPMAN FIELD DRIVE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33156

## Series and Classes Contracts Data

### THE COMMUNITY DEVELOPMENT FUND (Series ID: S000051233)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000161514 | Class A Shares | CDCDX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** THE COMMUNITY DEVELOPMENT FUND

- **b. Investment Company Act file number:** 811-23080

- **c. CIK number of Registrant:** 0001649227

- **d. LEI of Registrant:** 549300CXF3UPFLVE4L42

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

  - **Street Address 1:** 6255 CHAPMAN FIELD DRIVE

  - **City:** MIAMI

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 33156

  - **Telephone number:** 3056630100

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

- **a. Name of Series:** COMMUNITY DEVELOPMENT FUND

- **b. EDGAR series identifier (if any):** S000051233

- **c. LEI of Series:** 549300GYJMCCHY31QG05

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $113647216.46

**Total Liabilities:** $104806.42

**Net Assets:** $113542410.04

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -233.74386207 | **1-Year:** -2479.16541311 | **5-Year:** -12442.41650407 | **10-Year:** -26358.95585593 | **30-Year:** -3908.45613663

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

- **3-Month:** -79.54435626 | **1-Year:** -1733.95862489 | **5-Year:** -5218.00934376 | **10-Year:** -4026.59611351 | **30-Year:** -858.35410928

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161514 | -0.05%               | 1.85%                | -0.97%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2489.64                | $-322076.95                                |
| Month 2  | $10391.08                | $2368615.79                                |
| Month 3  | $-9078.44                | $-1631602.56                               |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Aggregate TR USD

- **Index Identifier:** LBFI_1_USD_TR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Government National Mortgage Association                               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2017-135 AG                    | CUSIP: 38379R3Y7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    549456 | PA      | $479702.96    | 0.42%             | 2058-08-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2019-SB59 MORTGAGE TRUST FRESB 2019-SB59 A7F                          | CUSIP: 302970AE8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    344454 | PA      | $329709.22    | 0.29%             | 2025-12-25      | Floating      | 3.19%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K141 A2             | CUSIP: 3137H6ZM0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   4800000 | PA      | $4010942.88   | 3.53%             | 2032-02-25      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K088 A2             | CUSIP: 3137FKZZ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $963192.40    | 0.85%             | 2029-01-25      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN AS7653                                                   | CUSIP: 3138WHQF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1215667 | PA      | $1090573.57   | 0.96%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STWD MORTGAGE TRUST                                                    | STWD 2021-LIH MORTGAGE TRUST STWD 2021-LIH A                                | CUSIP: 78486EAA6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   3000000 | PA      | $2890902.90   | 2.55%             | 2036-11-15      | Floating      | 5.18%                 | Yes           |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                               | VIRGINIA ST HSG DEV AUTH VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WAY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $428233.75    | 0.38%             | 2029-11-01      | Fixed         | 2.11%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CA1158                                                   | CUSIP: 3140Q8JC0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    258244 | PA      | $239189.14    | 0.21%             | 2048-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC POOL FR WN0011                                                  | CUSIP: 3132XEAM3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    746255 | PA      | $694613.19    | 0.61%             | 2030-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2017-74 AD                     | CUSIP: 38379RYW7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    425048 | PA      | $367919.68    | 0.32%             | 2058-09-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN AS9369                                                   | CUSIP: 3138WKMT9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |         0 | PA      | $0.01         | 0.00%             | 2047-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2021-SB93 MORTGAGE TRUST FRESB 2021-SB93 A7F                          | CUSIP: 30325WAB0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    980620 | PA      | $858681.40    | 0.76%             | 2028-10-25      | Floating      | 1.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CA8444                                                   | CUSIP: 3140QGL21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1223501 | PA      | $1005985.72   | 0.89%             | 2050-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CB2830                                                   | CUSIP: 3140QNEC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1197849 | PA      | $1018998.69   | 0.90%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN AS8734                                                   | CUSIP: 3138WJV47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    586085 | PA      | $544548.95    | 0.48%             | 2047-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KSG2 A2             | CUSIP: 3137H4S84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $827921.70    | 0.73%             | 2031-11-25      | Floating      | 2.09%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KF97 AL             | CUSIP: 3137F8ZQ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    542583 | PA      | $528561.43    | 0.47%             | 2030-11-25      | Floating      | 4.36%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC GOLD POOL FG Q41874                                             | CUSIP: 3132WFCL1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1048150 | PA      | $941794.57    | 0.83%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KSG3 A2             | CUSIP: 3137H7MF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $1722267.60   | 1.52%             | 2032-05-25      | Floating      | 2.65%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP MULTIFAMILY HSG REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP        | CUSIP: 64972EC72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1287669.85   | 1.13%             | 2030-05-01      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KF141 AS            | CUSIP: 3137H8U66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   6000000 | PA      | $5929809.00   | 5.22%             | 2032-07-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K123 A2             | CUSIP: 3137F8ZV8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1500000 | PA      | $1215825.30   | 1.07%             | 2030-12-25      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association 2                             | GINNIE MAE II POOL G2 AU1835                                                | CUSIP: 36194PBC7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    399295 | PA      | $357675.45    | 0.32%             | 2046-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CA7480                                                   | CUSIP: 3140QFJ26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1102818 | PA      | $904714.22    | 0.80%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KSMC X1             | CUSIP: 3137B04Z4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1532580 | PA      | $28.51        | 0.00%             | 2023-01-25      | Floating      | 0.65%                 | No            |                  2 | On Loan: No      |
| United States of America                                               | US TREASURY N/B 2.250000% 12/31/2023                                        | CUSIP: 912828V23<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |    900000 | PA      | $877992.19    | 0.77%             | 2023-12-31      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST                                 | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2022-3 SDART 2022-3 A2               | CUSIP: 80285UAC5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    728565 | PA      | $725517.30    | 0.64%             | 2025-03-17      | Fixed         | 2.76%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KF95 AL             | CUSIP: 3137F84M2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |         0 | PA      | $0.01         | 0.00%             | 2030-11-25      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2020-SB71 MORTGAGE TRUST FRESB 2020-SB71 A10H                         | CUSIP: 30313KAE4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    836862 | PA      | $731794.38    | 0.64%             | 2039-12-25      | Floating      | 2.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN AS7647                                                   | CUSIP: 3138WHP97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    699582 | PA      | $628793.13    | 0.55%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2018-SB57 MORTGAGE TRUST FRESB 2018-SB57 A10H                         | CUSIP: 30308LAE9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1252926 | PA      | $1195795.88   | 1.05%             | 2038-08-25      | Floating      | 3.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K028 A2             | CUSIP: 3137B2HN3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   9038604 | PA      | $9010380.52   | 7.94%             | 2023-02-25      | Fixed         | 3.11%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY HSG REV                                   | MASSACHUSETTS ST HSG FIN AGY H MASSACHUSETTS HOUSING FINANCE AGENCY         | CUSIP: 57587GCS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $79041.23     | 0.07%             | 2024-12-01      | Fixed         | 1.18%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KG06 A2             | CUSIP: 3137H4C65<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1200000 | PA      | $971430.24    | 0.86%             | 2031-10-25      | Fixed         | 1.78%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTICLASS CERTIFICATES SERIES 2021-P0 FHMR 2021-P009 A1        | CUSIP: 3137H13U8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    455262 | PA      | $389642.65    | 0.34%             | 2031-01-25      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| SMALL BUSINESS ADMINISTRATION GTD                                      | UNITED STATES SMALL BUSINESS ADMINISTRATION SBAP 2022-25F 1                 | CUSIP: 83162CP72<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    161896 | PA      | $154589.72    | 0.14%             | 2047-06-01      | Fixed         | 4.01%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CB2317                                                   | CUSIP: 3140QMSF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1433029 | PA      | $1170131.00   | 1.03%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY HSG REV                                   | MASSACHUSETTS ST HSG FIN AGY H MASSACHUSETTS HOUSING FINANCE AGENCY         | CUSIP: 57587A6H6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $59103.46     | 0.05%             | 2023-06-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                                           | BX COMMERCIAL MORTGAGE TRUST 2022-AHP BX 2022-AHP AS                        | CUSIP: 05610FAB3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2000000 | PA      | $1907059.00   | 1.68%             | 2039-01-17      | Floating      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                               | US 10YR ULTRA FUT MAR23 FINANCIAL COMMODITY FUTURE.                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -53 | NC      | $-6268906.25  | -5.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CB0268                                                   | CUSIP: 3140QKJN9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   3253238 | PA      | $2660541.17   | 2.34%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY REV                                    | NEW JERSEY ST HSG & MTGE FIN A NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY | CUSIP: 64613ADP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $896933.74    | 0.79%             | 2023-04-01      | Fixed         | 1.06%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY HSG REV                                   | MASSACHUSETTS ST HSG FIN AGY H MASSACHUSETTS HOUSING FINANCE AGENCY         | CUSIP: 57587GCU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $63258.52     | 0.06%             | 2025-12-01      | Fixed         | 1.33%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTICLASS CERTIFICATES SERIES 2015-P0 FHMR 2022-P013 A2        | CUSIP: 3137H74G5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1850000 | PA      | $1611024.96   | 1.42%             | 2032-02-25      | Floating      | 2.76%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2019-SB68 MORTGAGE TRUST FRESB 2019-SB68 A10F                         | CUSIP: 30298WAH0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1607767 | PA      | $1447323.83   | 1.27%             | 2029-09-25      | Floating      | 2.42%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN AN5657                                                   | CUSIP: 3138LJJB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    354675 | PA      | $324498.27    | 0.29%             | 2032-07-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CA1985                                                   | CUSIP: 3140Q9F32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    241434 | PA      | $231054.30    | 0.20%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2020-SB80 MORTGAGE TRUST FRESB 2020-SB80 A5H                          | CUSIP: 30316XAG8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1808385 | PA      | $1649687.92   | 1.45%             | 2040-09-25      | Floating      | 0.83%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K135 AM             | CUSIP: 3137H4R44<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   5500000 | PA      | $4455293.70   | 3.92%             | 2031-10-25      | Floating      | 1.91%                 | No            |                  2 | On Loan: No      |
| United States of America                                               | US 5YR NOTE (CBT) MAR23 FINANCIAL COMMODITY FUTURE.                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -50 | NC      | $-5396484.38  | -4.75%            |  |  |  | No            |                  1 | On Loan: No      |
| UBS-BARCLAYS COMMERCIAL MORTGAGE TRUST                                 | UBS-BARCLAYS COMMERCIAL MORTGAGE TRUST 2013-C6 UBSBB 2013-C6 A4             | CUSIP: 90349GBF1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1664931 | PA      | $1652655.98   | 1.46%             | 2046-04-10      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2020-SB76 MORTGAGE TRUST FRESB 2020-SB76 A5H                          | CUSIP: 30315EAB2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1291627 | PA      | $1194411.86   | 1.05%             | 2040-04-25      | Floating      | 1.03%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KF136 AS            | CUSIP: 3137H7M26<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $979474.30    | 0.86%             | 2032-04-25      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KJ29 A2             | CUSIP: 3137FTRB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2100000 | PA      | $1864876.65   | 1.64%             | 2027-11-25      | Fixed         | 1.41%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KSG1 A2             | CUSIP: 3137FXLX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2770000 | PA      | $2246775.25   | 1.98%             | 2030-09-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| NAVIENT PRIVATE EDUCATION LOAN TRUST                                   | NAVIENT PRIVATE EDUCATION LOAN TRUST 2014-A NAVSL 2014-AA A2A               | CUSIP: 63939CAB3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    203939 | PA      | $203761.63    | 0.18%             | 2029-02-15      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2021-SB84 MORTGAGE TRUST FRESB 2021-SB84 A10F                         | CUSIP: 30320WAP4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1806446 | PA      | $1510551.75   | 1.33%             | 2031-01-25      | Floating      | 1.49%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                               | VIRGINIA ST HSG DEV AUTH VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WBB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $402230.50    | 0.35%             | 2032-11-01      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN AM5197                                                   | CUSIP: 3138L5X39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1366563 | PA      | $1346953.68   | 1.19%             | 2030-01-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2020-SB77 MORTGAGE TRUST FRESB 2020-SB77 A7H                          | CUSIP: 30316AAG8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2923444 | PA      | $2488282.27   | 2.19%             | 2040-06-25      | Floating      | 1.12%                 | No            |                  2 | On Loan: No      |
| CARMAX AUTO OWNER TRUST                                                | CARMAX AUTO OWNER TRUST 2022-1 CARMX 2022-1 A2                              | CUSIP: 14317CAB8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1125338 | PA      | $1110838.31   | 0.98%             | 2025-02-18      | Fixed         | 0.91%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC POOL FR WA3207                                                  | CUSIP: 3132WWYD8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |         0 | PA      | $0.04         | 0.00%             | 2030-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN AN6185                                                   | CUSIP: 3138LJ2T6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1252714 | PA      | $1214334.56   | 1.07%             | 2024-07-01      | Fixed         | 2.93%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN AS8262                                                   | CUSIP: 3138WJFC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    565531 | PA      | $505205.13    | 0.44%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                               | US 2YR NOTE (CBT) MAR23 FINANCIAL COMMODITY FUTURE.                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -38 | NC      | $-7792968.75  | -6.86%            |  |  |  | No            |                  1 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2018-SB56 MORTGAGE TRUST FRESB 2018-SB56 A5H                          | CUSIP: 302966AH9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    324535 | PA      | $319075.48    | 0.28%             | 2038-09-25      | Floating      | 3.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K-1514 A2           | CUSIP: 3137FQJZ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2300000 | PA      | $1933001.42   | 1.70%             | 2034-10-25      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2020-SB71 MORTGAGE TRUST FRESB 2020-SB71 A10F                         | CUSIP: 30313KAD6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1441607 | PA      | $1266684.94   | 1.12%             | 2029-12-25      | Floating      | 2.21%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY HSG REV                                   | MASSACHUSETTS ST HSG FIN AGY H MASSACHUSETTS HOUSING FINANCE AGENCY         | CUSIP: 57587A6J2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $28993.01     | 0.03%             | 2023-12-01      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY HSG REV                                   | MASSACHUSETTS ST HSG FIN AGY H MASSACHUSETTS HOUSING FINANCE AGENCY         | CUSIP: 57587GCR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $104041.48    | 0.09%             | 2024-06-01      | Fixed         | 1.08%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC POOL FR WA0500                                                  | CUSIP: 3132WRRK1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2374910 | PA      | $2015606.65   | 1.78%             | 2047-03-01      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-183 AC                    | CUSIP: 38381D7X2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1466810 | PA      | $1199144.88   | 1.06%             | 2063-01-16      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CA4927                                                   | CUSIP: 3140QCPM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    455481 | PA      | $404956.06    | 0.36%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CB1441                                                   | CUSIP: 3140QLS72<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   4988264 | PA      | $4073121.84   | 3.59%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CB2739                                                   | CUSIP: 3140QNBH4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1060546 | PA      | $902430.29    | 0.79%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                               | US 10YR NOTE (CBT)MAR23 FINANCIAL COMMODITY FUTURE.                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -45 | NC      | $-5053359.38  | -4.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN AS9360                                                   | CUSIP: 3138WKMJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    409315 | PA      | $382344.15    | 0.34%             | 2047-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP        | CUSIP: 64966WHA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $938841.60    | 0.83%             | 2027-01-01      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K145 A1             | CUSIP: 3137H7PH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1832620 | PA      | $1657480.38   | 1.46%             | 2055-06-25      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN AS7476                                                   | CUSIP: 3138WHJW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    369941 | PA      | $332834.40    | 0.29%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2020-SB71 MORTGAGE TRUST FRESB 2020-SB71 A5H                          | CUSIP: 30313KAA2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1038470 | PA      | $984848.05    | 0.87%             | 2039-11-25      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| WESTLAKE AUTOMOBILE RECEIVABLES TRUST                                  | WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2021-1 WLAKE 2021-1A A2A              | CUSIP: 96043FAB9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    183507 | PA      | $182997.93    | 0.16%             | 2024-10-15      | Fixed         | 0.39%                 | Yes           |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                               | VIRGINIA ST HSG DEV AUTH VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WBA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $404903.95    | 0.36%             | 2031-11-01      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN BT0120                                                   | CUSIP: 3140LND20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1254798 | PA      | $1025117.75   | 0.90%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY HSG REV                                   | MASSACHUSETTS ST HSG FIN AGY H MASSACHUSETTS HOUSING FINANCE AGENCY         | CUSIP: 57587GCT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $73157.22     | 0.06%             | 2025-06-01      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN BC0962                                                   | CUSIP: 3140EVB89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    505138 | PA      | $453868.23    | 0.40%             | 2046-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CB2738                                                   | CUSIP: 3140QNBG6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   5042825 | PA      | $4283827.74   | 3.77%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP MULTIFAMILY HSG REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP        | CUSIP: 64972EC80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $334625.41    | 0.29%             | 2030-11-01      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN CA7479                                                   | CUSIP: 3140QFJZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    763380 | PA      | $624685.31    | 0.55%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC POOL FR RA5346                                                  | CUSIP: 3133KL5F0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1122898 | PA      | $921162.14    | 0.81%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2020-SB79 MORTGAGE TRUST FRESB 2020-SB79 A7H                          | CUSIP: 30316VAD9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |         0 | PA      | $0.01         | 0.00%             | 2040-07-25      | Floating      | 0.99%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC POOL FR RA1853                                                  | CUSIP: 3133KHBW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    804700 | PA      | $713419.40    | 0.63%             | 2049-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                                   | FRESB 2021-SB93 MORTGAGE TRUST FRESB 2021-SB93 A5H                          | CUSIP: 30325WAA2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    982886 | PA      | $889546.97    | 0.78%             | 2041-09-25      | Floating      | 1.50%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                         | MICHIGAN ST HSG DEV AUTH SF MT MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY | CUSIP: 594654PF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $454219.20    | 0.40%             | 2025-06-01      | Fixed         | 0.96%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                                           | BX COMMERCIAL MORTGAGE TRUST 2022-AHP BX 2022-AHP B                         | CUSIP: 05610FAC1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   3000000 | PA      | $2840710.50   | 2.50%             | 2039-01-17      | Floating      | 6.18%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K092 A1             | CUSIP: 3137FLYU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3036405 | PA      | $2916067.94   | 2.57%             | 2028-10-25      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association 2                             | GINNIE MAE II POOL G2 AU1762                                                | CUSIP: 36194N5X3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    344927 | PA      | $321679.88    | 0.28%             | 2046-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN AS7484                                                   | CUSIP: 3138WHJ60<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    470409 | PA      | $422708.91    | 0.37%             | 2046-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fidelity Colchester Street Trust: Government Portfolio; Class I Shares | FIDELITY GOVERNMENT MONEY MARKET CLASS I (FIGXX)                            | CUSIP: 316175108<br>LEI: N/A                  | Long             | STIV             |  | US        |   2489412 | PA      | $2489411.78   | 2.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | FREDDIE MAC MULTICLASS CERTIFICATES SERIES 2021-P0 FHMR 2021-P009 A2        | CUSIP: 3137H13V6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $830128.30    | 0.73%             | 2031-01-25      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-31

**Name of Applicant:** THE COMMUNITY DEVELOPMENT FUND

**Signature:** Ken Thomas

**Name of Signer:** Ken Thomas

**Title:** President