# EDGAR Filing Document

**Accession Number:** 0001804196
**File Stem:** 0001410368-25-010177
**Filing Date:** 2025-9
**Character Count:** 144799
**Document Hash:** 4b5e72bea4d76cae3b7ea16909019424
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-010177.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0001410368-25-010177

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250924

**DATE AS OF CHANGE**: 20250924

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock ETF Trust II
- **CENTRAL INDEX KEY:** 0001804196

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23511
- **FILM NUMBER:** 251338645

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800 882 0052

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

## Series and Classes Contracts Data

### iShares Short Duration High Yield Muni Active ETF (Series ID: S000068548)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000219258 | iShares Short Duration High Yield Muni Active ETF |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock ETF Trust II

- **b. Investment Company Act file number:** 811-23511

- **c. CIK number of Registrant:** 0001804196

- **d. LEI of Registrant:** 549300PLJCTZLQ2LE832

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

  - **Street Address 1:** 100 BELLEVUE PARKWAY

  - **City:** WILMINGTON

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

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

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

- **a. Name of Series:** iShares Short Duration High Yield Muni Active ETF

- **b. EDGAR series identifier (if any):** S000068548

- **c. LEI of Series:** 5493005TMJR1Y0YIG732

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

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

- **b. Date as of which information is reported:** 2025-07-31

**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:** $369806030.12

**Total Liabilities:** $3073465.91

**Net Assets:** $366732564.21

**Delayed Delivery Securities:** $50000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2863.19000000 | **1-Year:** 8524.42000000 | **5-Year:** 12074.81000000 | **10-Year:** 18945.31000000 | **30-Year:** 13227.93000000

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

- **3-Month:** 33.07000000 | **1-Year:** 4457.10000000 | **5-Year:** 42831.52000000 | **10-Year:** 53264.00000000 | **30-Year:** 24564.64000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000219258 | 0.19%                | 0.53%                | -0.66%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1636014.32             | $873229.15                                 |
| Month 2  | $-1533550.20             | $1907853.32                                |
| Month 3  | $-16456.23               | $-3539196.91                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1515253.35   | 0.41%             | 2033-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                               | MARYLAND ST ECON DEV CORP PRIV ACTIVITY REVENUE              | CUSIP: 57422JCA4<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    315000 | PA      | $291298.46    | 0.08%             | 2055-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $859830.59    | 0.23%             | 2048-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                           | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SMK7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $928743.67    | 0.25%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TIMBERHP BY GO LAB INC                                                           | TIMBERHP BY GO LAB INC                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12446 | NS      | $83512.66     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Development Authority of Cobb County/The                                         | COBB CNTY GA DEV AUTH CHARTERSCH REVENUE                     | CUSIP: 190779AF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $271544.02    | 0.07%             | 2038-06-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Tulsa Municipal Airport Trust Trustees/OK                                        | TULSA OK MUNI ARPT TRUST TRUSTEES                            | CUSIP: 899661EM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $748499.45    | 0.20%             | 2035-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                           | OHIO ST AIR QUALITY DEV AUTH EXEMPT FACS REVENUE             | CUSIP: 67754AAE4<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2086850.83   | 0.57%             | 2048-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI CHRT SCH REVENUE                          | CUSIP: 744396GZ9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |     25000 | PA      | $18115.19     | 0.00%             | 2056-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                               | PHILADELPHIA PA WTR & WSTWTR REVENUE                         | CUSIP: 717893C82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6475000 | PA      | $6509830.71   | 1.78%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Crossings Community Development District                                         | CROSSINGS CDD FL SPL ASSMNT                                  | CUSIP: 22766NAE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $266501.99    | 0.07%             | 2031-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Baldwin County Industrial Development Authority                                  | BALDWIN CNTY AL INDL DEV AUTH SOL WST DISP REVENUE           | CUSIP: 05786PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1497703.05   | 0.41%             | 2055-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Avenir Community Development District                                            | AVENIR FL CDD REVENUE                                        | CUSIP: 05357FAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    393000 | PA      | $393566.03    | 0.11%             | 2050-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349DJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1263434.70   | 0.34%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kansas City Industrial Development Authority                                     | KANSAS CITY MO INDL DEV AUTH ECON ACTIVITY TAX REVENUE       | CUSIP: 48502MAA1<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |    115000 | PA      | $103858.94    | 0.03%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI EDU REVENUE                               | CUSIP: 74442ELS7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    825000 | PA      | $837298.33    | 0.23%             | 2034-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE                     | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6088807.98   | 1.66%             | 2056-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PA70<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    310000 | PA      | $313399.85    | 0.09%             | 2043-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| City of Marion IL Sales Tax Revenue                                              | MARION IL SALES TAX REVENUE                                  | CUSIP: 569498AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $314944.13    | 0.09%             | 2045-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| LTC Ranch West Residential Community Development District                        | LTC RANCH WEST RSDL CMNTY DEV DIST SPL ASSMNT REVENUE        | CUSIP: 50218SAM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $302951.04    | 0.08%             | 2031-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Kings Creek I Community Development District                                     | KINGS CREEK I CDD FL SPL ASSMNT                              | CUSIP: 495879AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302712.53    | 0.08%             | 2030-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | CALIFORNIA ST MUNI FIN AUTH CHARTER SCH REVENUE              | CUSIP: 13048DCE6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800654.06    | 0.22%             | 2038-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PL86<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2998651 | PA      | $2913431.52   | 0.79%             | 2036-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                                                | CELINA TX SPL ASSESSMENT REVENUE                             | CUSIP: 15114CGD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1702000 | PA      | $1699143.52   | 0.46%             | 2030-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Elbert County Independence Water & Sanitation District                           | INDEPENDENCE WTR & SANTN DIST CO SPL REVENUE                 | CUSIP: 45380AAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1499224.44   | 0.41%             | 2033-12-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Allentown Neighborhood Improvement Zone Development Authority                    | ALLENTOWN PA NEIGHBORHOOD IMPT ZONE DEV AUTH TAX REVENUE     | CUSIP: 018444CC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $361056.14    | 0.10%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE               | CUSIP: 126292BG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $70020.00     | 0.02%             | 2057-04-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                                           | VERMONT ST ECON DEV AUTH SOLID WST DISP REVENUE              | CUSIP: 924157AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5041573.35   | 1.37%             | 2052-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                      | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DEE8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042314.76   | 0.28%             | 2052-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster County Hospital Authority/PA                                           | LANCASTER CNTY PA HOSP AUTH                                  | CUSIP: 514045S61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93618.56     | 0.03%             | 2041-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Denton TX                                                              | DENTON CNTY TX SPL ASSMNT REVENUE                            | CUSIP: 24880GAG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1820450.86   | 0.50%             | 2031-12-31      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH ENVRNMNTL REVENUE                        | CUSIP: 455054BE5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    640000 | PA      | $641019.72    | 0.17%             | 2026-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Hammock Oaks Community Development District                                      | HAMMOCK OAKS CDD FL ASSMNT                                   | CUSIP: 40834PAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $97908.17     | 0.03%             | 2044-05-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SOL WST DISP REVENUE                    | CUSIP: 63608RAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    910000 | PA      | $914893.60    | 0.25%             | 2033-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Ranches at Lake Mcleod Community Development District                            | RANCHES AT LAKE MCLEOD CDD FL SPL ASSMNT                     | CUSIP: 752041AE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $368242.98    | 0.10%             | 2035-06-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Tulsa County Industrial Authority                                                | TULSA CNTY OK INDL AUTH SENIOR LIVING CMNTY REVENUE          | CUSIP: 899530BA6<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |     75000 | PA      | $71190.67     | 0.02%             | 2045-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                       | MAINE ST FIN AUTH                                            | CUSIP: 56042BCU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25042.14     | 0.01%             | 2032-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Malabar Springs Community Development District                                   | MALABAR SPRINGS CDD FL SPL ASSMNT                            | CUSIP: 560881AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $439089.06    | 0.12%             | 2031-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Utah Infrastructure Agency                                                       | UTAH INFRASTRUCTURE AGY TELECOMUNICATION REVENUE             | CUSIP: 917467DC3<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |     50000 | PA      | $49890.98     | 0.01%             | 2048-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                 | MARICOPA CNTY INDL DEV AUTH EXEMPT FACS REVENUE              | CUSIP: 56678TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $155131.12    | 0.04%             | 2047-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Gas Worx Community Development District                                          | GAS WORX CDD FL SPL ASSMNT                                   | CUSIP: 367200AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $349588.30    | 0.10%             | 2030-05-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Bradbury Community Development District                                          | BRADBURY FL CDD SPL ASSMNT                                   | CUSIP: 103848AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1620000 | PA      | $1610007.50   | 0.44%             | 2030-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE | CUSIP: 64542UHD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $713875.64    | 0.19%             | 2035-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Escambia County Health Facilities Authority                                      | ESCAMBIA CNTY FL HLTH FACS AUTH                              | CUSIP: 296110GC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007473.37   | 0.27%             | 2040-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Doylestown Hospital Authority                                                    | DOYLESTOWN PA HOSP AUTH                                      | CUSIP: 261333HH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $109519.13    | 0.03%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PUC7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    315000 | PA      | $318889.92    | 0.09%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greenbriar Community Development District                                        | GREENBRIAR CDD FL SPL ASSMNT REVENUE                         | CUSIP: 39364TAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $418115.01    | 0.11%             | 2032-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Independence Metropolitan District No 3                                          | INDEPENDENCE MET DIST #3 CO                                  | CUSIP: 453625AE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $498311.90    | 0.14%             | 2054-12-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Newfield Community Development District                                          | NEWFIELD CDD FL SPL ASSMNT REVENUE                           | CUSIP: 65128AAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $774837.40    | 0.21%             | 2030-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349HY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $206066.96    | 0.06%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI EDU REVENUE                               | CUSIP: 74442EFW5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $378103.49    | 0.10%             | 2055-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mesquite Housing Finance Corp/The                                                | MESQUITE TX HSG FIN CORP MF HSG REVENUE                      | CUSIP: 590747AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $930582.58    | 0.25%             | 2044-02-01      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Water & Wastewater Revenue                                    | ATLANTA GA WTR & WSTWTR REVENUE                              | CUSIP: 047870NE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1399404.96   | 0.38%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Princeton TX                                                             | PRINCETON TX SPL ASSMNT REVENUE                              | CUSIP: 742400CY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302107.50    | 0.08%             | 2030-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PG90<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    765000 | PA      | $801572.88    | 0.22%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                          | ENERGY S E AL A COOPERATIVE DIST ENERGY SPLY REVENUE         | CUSIP: 292723BN2<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |    600000 | PA      | $640512.45    | 0.17%             | 2054-07-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                          | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                  | CUSIP: 594698RK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1301324.71   | 0.35%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Commerce Corp                                                       | RHODE ISLAND ST COMMERCE CORP AIRPORT REVENUE                | CUSIP: 76218NAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1124379.47   | 0.31%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Princeton TX                                                             | PRINCETON TX SPL ASSMNT REVENUE                              | CUSIP: 742400CM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $45840.18     | 0.01%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $170782.12    | 0.05%             | 2032-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Princeton TX                                                             | PRINCETON TX SPL ASSMNT REVENUE                              | CUSIP: 742400CQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $70767.57     | 0.02%             | 2044-09-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| City of Forest Lake MN                                                           | FOREST LAKE MN CHARTER SCH LEASE REVENUE                     | CUSIP: 345856AY4<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |    260000 | PA      | $200815.84    | 0.05%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Parrish Lakes II Community Development District                                  | PARRISH LAKES II CDD FL CAPITAL IMPT REVENUE                 | CUSIP: 70183HAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1154347.53   | 0.31%             | 2031-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Granary Metropolitan District No 9 Special Assessment District No 1              | GRANARY MET DIST #9 CO SPL IMPT DIST #1 SPECIAL ASSESSMENT R | CUSIP: 385038AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $712805.40    | 0.19%             | 2044-12-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TDL8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2667840.20   | 0.73%             | 2055-05-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Tulsa Authority for Economic Opportunity                                         | TULSA OK AUTH ECON OPPTY TAX APPORTIONMENT REVENUE           | CUSIP: 899650AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $87072.60     | 0.02%             | 2041-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Solaeris Community Development District                                          | SOLAERIS CDD FL SPL ASSMNT                                   | CUSIP: 83409XAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1092940.74   | 0.30%             | 2032-05-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PD51<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    293659 | PA      | $296624.32    | 0.08%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Corpus Christi TX                                                        | CORPUS CHRISTI TX SPL ASSMNT REVENUE                         | CUSIP: 220233AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99052.24     | 0.03%             | 2031-09-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH DOCK & WHARF FAC REVENUE         | CUSIP: 64578TAA2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    835000 | PA      | $842154.63    | 0.23%             | 2035-01-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Lakes of Sarasota Community Development District 2                               | LAKES OF SARASOTA CDD 2 CAPITAL IMPT REVENUE                 | CUSIP: 51207BAJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3040000 | PA      | $3045275.34   | 0.83%             | 2035-05-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1229000 | PA      | $1214464.51   | 0.33%             | 2035-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Berks County Industrial Development Authority                                    | BERKS CNTY PA INDL DEV AUTH HLTHCARE FACS REVENUE            | CUSIP: 08452RAH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2502663.43   | 0.68%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hickory Chase Community Authority                                                | HICKORY CHASE OH CMNTY AUTH INFRASTRUCTURE IMPT REVENUE      | CUSIP: 428861AD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $309133.73    | 0.08%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PG58<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    365000 | PA      | $163405.31    | 0.04%             | 2038-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $6644863.40   | 1.81%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                                                | CELINA TX SPL ASSESSMENT REVENUE                             | CUSIP: 15114CJS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2019713.60   | 0.55%             | 2031-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Curiosity Creek Community Development District                                   | CURIOSITY CREEK CDD FL CAPITAL IMPT REVENUE                  | CUSIP: 23128SAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $307196.50    | 0.08%             | 2031-05-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Ibis Landing Community Development District                                      | IBIS LANDING CDD FL SPL ASSMNT                               | CUSIP: 451075AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200438.93    | 0.05%             | 2030-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BJR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $591960.74    | 0.16%             | 2029-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519DC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $542574.38    | 0.15%             | 2040-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FYT6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499050.75    | 0.14%             | 2039-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE               | CUSIP: 126292BX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $64152.34     | 0.02%             | 2058-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Brevard County Health Facilities Authority                                       | BREVARD CNTY FL HLTH FACS AUTH REVENUE                       | CUSIP: 107416PL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $143792.82    | 0.04%             | 2032-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL EDU FACS FINCORP TX EDU REVENUE            | CUSIP: 64542QBP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $754337.01    | 0.21%             | 2050-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lowry Crossing TX                                                        | LOWRY CROSSING TX SPL ASSMNT REVENUE                         | CUSIP: 54877WAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $403078.03    | 0.11%             | 2030-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FWP5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |     65000 | PA      | $67893.35     | 0.02%             | 2039-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254717.71    | 0.07%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                          | BUILD NYC RESOURCE CORP NY REVENUE                           | CUSIP: 12008EUM6<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    500000 | PA      | $470227.63    | 0.13%             | 2043-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL EDU FACS FINCORP TX EDU REVENUE            | CUSIP: 64542QBK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $872044.45    | 0.24%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2545615 | PA      | $2761751.05   | 0.75%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Suffolk Regional Off-Track Betting Corp                                          | SUFFOLK REGL OFF-TRACK BETTING CORP NY REV                   | CUSIP: 86480TAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102914.82    | 0.03%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP SOL WST DISP REVENUE                 | CUSIP: 34061XAG7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   2880000 | PA      | $2853846.60   | 0.78%             | 2054-10-01      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| Allentown Neighborhood Improvement Zone Development Authority                    | ALLENTOWN PA NEIGHBORHOOD IMPT ZONE DEV AUTH TAX REVENUE     | CUSIP: 018444CE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $950630.04    | 0.26%             | 2042-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Buda TX                                                                  | BUDA TX SPL ASSMNT REVENUE                                   | CUSIP: 118829AA8<br>LEI: 549300M2WWWL7K4QS327 | Long             | DBT              | MUN               | US        |    100000 | PA      | $98102.93     | 0.03%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Four Corners Business Improvement District                                       | FOUR CORNERS BUSINESS IMPT DIST CO LIMITED TAX SUPPORTED     | CUSIP: 35084NAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1487978.55   | 0.41%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts School Building Authority                                          | MASSACHUSETTS ST SCH BLDG AUTH SALES TAX REVENUE             | CUSIP: 576000SE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4999364.85   | 1.36%             | 2037-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    566000 | PA      | $566638.32    | 0.15%             | 2031-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061UGX0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $400137.67    | 0.11%             | 2055-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                               | DETROIT MI                                                   | CUSIP: 251093S84<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    348011 | PA      | $258398.17    | 0.07%             | 2044-04-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Glendale Industrial Development Authority                                        | GLENDALE AZ INDL DEV AUTH SENIOR LIVING FACS REVENUE         | CUSIP: 378287AT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $369909.90    | 0.10%             | 2028-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hickory Tree Community Development District                                      | HICKORY TREE CDD FL SPL ASSMNT                               | CUSIP: 429079AB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $955088.88    | 0.26%             | 2044-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| County of Denton TX                                                              | DENTON CNTY TX SPL ASSMNT REVENUE                            | CUSIP: 24880GAP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $643419.51    | 0.18%             | 2030-12-31      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI SPL REVENUE                               | CUSIP: 74447TAG7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1460214.50   | 0.40%             | 2033-12-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Flint International Academy                                                      | FLINT INTERNATIONAL ACADEMY MI PUBLIC SCH ACADEMY REVENUE    | CUSIP: 339526AN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2485000 | PA      | $2484054.33   | 0.68%             | 2037-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 0418067Z7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $183425.01    | 0.05%             | 2062-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Marble Falls TX                                                          | MARBLE FALLS TX SPL ASSMNT REVENUE                           | CUSIP: 566035AN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $460250.82    | 0.13%             | 2044-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Kingston One Community Development District                                      | KINGSTON ONE CDD FL SPL ASSMNT                               | CUSIP: 496631AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005438.77   | 0.27%             | 2030-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Atlanta Development Authority/The                                                | ATLANTA GA DEV AUTH                                          | CUSIP: 04780NMX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $278636.81    | 0.08%             | 2039-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tulsa County Industrial Authority                                                | TULSA CNTY OK INDL AUTH SENIOR LIVING CMNTY REVENUE          | CUSIP: 899530AZ2<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    500000 | PA      | $487538.23    | 0.13%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Darby Community Development District                                             | DARBY CDD FL SPL ASSMNT REVENUE                              | CUSIP: 23705PAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $173220.67    | 0.05%             | 2035-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| County of Lake FL                                                                | LAKE CNTY FL EDUCTNL FACS REVENUE                            | CUSIP: 50825CAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1268117.42   | 0.35%             | 2039-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PC94<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    105000 | PA      | $116487.76    | 0.03%             | 2029-05-16      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Coastal Ridge Community Development District                                     | COASTAL RIDGE CDD FL SPL ASSMNT REVENUE                      | CUSIP: 19052TAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2277280.94   | 0.62%             | 2030-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TC68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1352282.31   | 0.37%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Cook IL                                                                | COOK CNTY IL MF HSG REVENUE                                  | CUSIP: 213226AE3<br>LEI: 5493004UMR7OX4YITE10 | Long             | DBT              | MUN               | US        |    750000 | PA      | $726575.72    | 0.20%             | 2045-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2310000 | PA      | $2253039.56   | 0.61%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Corpus Christi TX                                                        | CORPUS CHRISTI TX SPL ASSMNT REVENUE                         | CUSIP: 220233AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93950.26     | 0.03%             | 2044-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| City of Pompano Beach FL                                                         | POMPANO BEACH FL REVENUE                                     | CUSIP: 732203AT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1570379.26   | 0.43%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349HV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2070941.16   | 0.56%             | 2035-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Suffolk Regional Off-Track Betting Corp                                          | SUFFOLK REGL OFF-TRACK BETTING CORP NY REV                   | CUSIP: 86480TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $203272.00    | 0.06%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | MET GOVT NASHVILLE & DAVIDSONCNTY TN HLTH & EDUCTNL FAC BRD  | CUSIP: 592041YM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $350747.94    | 0.10%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2585000 | PA      | $1562330.39   | 0.43%             | 2033-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Buckhead Trails Community Development District                                   | BUCKHEAD TRAILS CDD FL SPL ASSMNT                            | CUSIP: 11836UAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $239168.57    | 0.07%             | 2044-05-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                                                | CELINA TX SPL ASSESSMENT REVENUE                             | CUSIP: 15114CKT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    333000 | PA      | $325677.41    | 0.09%             | 2035-09-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE              | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106381.14    | 0.03%             | 2053-01-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061UEA2<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    400000 | PA      | $383278.02    | 0.10%             | 2050-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Buckhead Trails Community Development District                                   | BUCKHEAD TRAILS CDD FL SPL ASSMNT                            | CUSIP: 11836UAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1050336.05   | 0.29%             | 2031-05-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Loretto Heights Community Authority                                              | LORETTO HEIGHTS CMNTY AUTH CO SPL REVENUE                    | CUSIP: 544084AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $373013.75    | 0.10%             | 2051-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041807BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25102.46     | 0.01%             | 2062-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10420000 | PA      | $10693094.97  | 2.92%             | 2031-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Utah Infrastructure Agency                                                       | UTAH INFRASTRUCTURE AGY TELECOMUNICATION REVENUE             | CUSIP: 917467DB5<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |     55000 | PA      | $55679.67     | 0.02%             | 2044-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TS53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $752758.42    | 0.21%             | 2032-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Crossings Community Development District                                         | CROSSINGS CDD FL SPL ASSMNT                                  | CUSIP: 22766NAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $978233.72    | 0.27%             | 2044-05-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp/VA                                             | TOBACCO SETTLEMENT FING CORP VA                              | CUSIP: 88880NAU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1290369.09   | 0.35%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hammock Oaks Community Development District                                      | HAMMOCK OAKS CDD FL ASSMNT                                   | CUSIP: 40834PAG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $678023.26    | 0.18%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                                            | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                      | CUSIP: 187145UP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $192909.26    | 0.05%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | CALIFORNIA ST MUNI FIN AUTH SENIOR LIVING REVENUE            | CUSIP: 13049RBF2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $965623.55    | 0.26%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lakes of Sarasota Community Development District                                 | LAKES OF SARASOTA CDD FL IMPT REVENUE                        | CUSIP: 51206YAU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2370548.70   | 0.65%             | 2034-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 14                                     | VLG FL CDD #14 SPL ASSMNT REVENUE                            | CUSIP: 92708JAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $96168.11     | 0.03%             | 2042-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| City of Buda TX                                                                  | BUDA TX SPL ASSMNT REVENUE                                   | CUSIP: 118829AD2<br>LEI: 549300M2WWWL7K4QS327 | Long             | DBT              | MUN               | US        |    640000 | PA      | $629153.27    | 0.17%             | 2033-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Two Lakes Community Development District                                         | TWO LAKES CDD FL SPL ASSMNT                                  | CUSIP: 90207EAU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $992685.01    | 0.27%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Trophy Club TX Public Improvement District No 1                          | TROPHY CLUB TX PUBLIC IMPT DIST #1 SPL ASSMNT REVENUE        | CUSIP: 89706PAW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057741.55   | 0.29%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1685732.93   | 0.46%             | 2031-12-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                             | COLORADO EDUCTNL & CULTURAL AUTH REVENUE                     | CUSIP: 19645UEP5<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    100000 | PA      | $98868.54     | 0.03%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mida Mountain Village Public Infrastructure District                             | MIDA MOUNTAIN VLG PUBLIC INFRASTRUCTURE DIST UT TAX ALLOCATI | CUSIP: 59561UAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2217754.78   | 0.60%             | 2039-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Normandy Community Development District                                          | NORMANDY CDD FL CAPITAL IMPT REVENUE                         | CUSIP: 65618HAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2035000 | PA      | $2038570.63   | 0.56%             | 2031-05-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                                                            | THE CHILDRENS TRUST FUND PR TOBACCO SETTLEMENT REVENUE       | CUSIP: 16876QBL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $59995.41     | 0.02%             | 2057-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hoover Industrial Development Board                                              | HOOVER AL INDL DEV BRD ENVNMNTL IMPT REVENUE                 | CUSIP: 439241AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3268153.07   | 0.89%             | 2049-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Lakes of Sarasota Community Development District 2                               | LAKES OF SARASOTA CDD 2 CAPITAL IMPT REVENUE                 | CUSIP: 51207BAK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3175000 | PA      | $3171146.57   | 0.86%             | 2035-05-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Industrial Development Authority                                | PORT BEAUMONT TX INDL DEV AUTH                               | CUSIP: 73358SAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2033824.38   | 0.55%             | 2028-01-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| University of Vermont and State Agricultural College                             | UNIV OF VERMONT & ST AGRIC CLG VT                            | CUSIP: 915200VQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12000000 | PA      | $12002136.84  | 3.27%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Atlanta Development Authority/The                                                | ATLANTA GA DEV AUTH                                          | CUSIP: 04780NMW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $177849.04    | 0.05%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | LOUISIANA PUB FACS AUTH REVENUE                              | CUSIP: 546399HY5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1230897.30   | 0.34%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Inland Empire Tobacco Securitization Corp                                        | INLAND EMPIRE CA TOBACCO SECURITIZATION AUTH TOB SETTLEMENT  | CUSIP: 45734TAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $542574.76    | 0.15%             | 2036-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                  | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JEA0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4150000 | PA      | $4320268.69   | 1.18%             | 2055-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Navigation District                                             | PORT BEAUMONT TX NAV DIST DOCK& WHARF FAC REVENUE            | CUSIP: 73360CAD6<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1261309.36   | 0.34%             | 2050-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                       | MAINE ST FIN AUTH                                            | CUSIP: 56042BCV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $82965.60     | 0.02%             | 2035-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FTH7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    100000 | PA      | $70937.56     | 0.02%             | 2049-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                       | MAINE ST FIN AUTH                                            | CUSIP: 56042BCT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $24889.83     | 0.01%             | 2032-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO                                                       | DENVER CITY & CNTY CO SPL FACS ARPT REVENUE                  | CUSIP: 249271GV3<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $6996865.61   | 1.91%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PL78<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1760000 | PA      | $858184.76    | 0.23%             | 2037-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Valparaiso IN                                                            | VALPARAISO IN EXEMPT FACS REVENUE                            | CUSIP: 92028RAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102382.72    | 0.03%             | 2034-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| City of Henderson KY                                                             | HENDERSON KY EXEMPT FACS REVENUE                             | CUSIP: 425099AB4<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |    650000 | PA      | $568479.43    | 0.16%             | 2052-01-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp/TN                                                                 | TENNERGY CORP TN GAS REVENUE                                 | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |    500000 | PA      | $534982.19    | 0.15%             | 2053-10-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sierra Vista Industrial Development Authority                                    | SIERRA VISTA AZ INDL DEV AUTH AUTH ED FAC REV                | CUSIP: 82652UAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $152790.99    | 0.04%             | 2053-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PD36<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095295.87   | 0.30%             | 2059-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH EDUCTNL FACS REVENUE    | CUSIP: 83704MCH7<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |     25000 | PA      | $22434.11     | 0.01%             | 2062-08-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783VM5<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500801.62    | 0.14%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tuscaloosa County Industrial Development Authority                               | TUSCALOOSA CNTY AL INDL DEV AUTH GULF OPPORTUNITY ZONE       | CUSIP: 90068FAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $171492.54    | 0.05%             | 2044-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Cypress Creek Reserve Community Development District                             | CYPRESS CREEK RESERVE CDD FL SPL ASSMNT                      | CUSIP: 23274FAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $751192.64    | 0.20%             | 2030-05-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Allegheny Community Broadband Inc                                                | ALLEGHENY CMNTY BROADBAND INC PA PROJ REVENUE                | CUSIP: 017276AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $251962.09    | 0.07%             | 2035-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                       | MAINE ST FIN AUTH SOL WST DISP REVENUE                       | CUSIP: 56042CAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $168189.34    | 0.05%             | 2047-12-01      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                 | CALIFORNIA ST POLL CONTROL FING AUTH WTR FURNISHING REVENUE  | CUSIP: 13054WAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504902.92    | 0.14%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arbor Park Phase 1 Community Development District                                | ARBOR PK PHASE 1 CDD FL SPL ASSMNT REVENUE                   | CUSIP: 038922AD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2154834.28   | 0.59%             | 2035-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $195372.62    | 0.05%             | 2043-07-01      | Floating      | 3.63%                 | No            |                  2 | On Loan: No      |
| Affordable Housing Opportunities Trust Series AH-01                              | AFFORDABLE HSG OPPORTUNITIES TRUST                           | CUSIP: 00826SAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     39533 | PA      | $36562.30     | 0.01%             | 2039-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783U87<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    295000 | PA      | $295106.61    | 0.08%             | 2029-07-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505WB8<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    475000 | PA      | $424132.33    | 0.12%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Denton TX                                                              | DENTON CNTY TX SPL ASSMNT REVENUE                            | CUSIP: 24880GAH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $962048.95    | 0.26%             | 2044-12-31      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Sierra Vista Industrial Development Authority                                    | SIERRA VISTA AZ INDL DEV AUTH AUTH ED FAC REV                | CUSIP: 82652UAQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503143.31    | 0.14%             | 2064-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV  | CUSIP: 708692BT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $918623.86    | 0.25%             | 2041-06-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE               | CUSIP: 126292AP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $196279.72    | 0.05%             | 2056-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North AR-1 Pasco Community Development District                                  | NORTH AR-1 PASCO CDD FL CAPITAL IMPT REVENUE                 | CUSIP: 65725AAR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $86232.32     | 0.02%             | 2044-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Stadium Trace Village Improvement District/The                                   | STADIUM TRACE VLG IMPT DIST DEV INCENTIVE ANTIC BONDS        | CUSIP: 852351AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1044129.90   | 0.28%             | 2036-03-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| District of Columbia Tobacco Settlement Financing Corp                           | DIST OF COLUMBIA TOBACCO SETTLEMENT FING CORP                | CUSIP: 254842BD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6100000 | PA      | $546619.41    | 0.15%             | 2055-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Oak Point TX                                                             | OAK POINT TX SPL ASSMNT REVENUE                              | CUSIP: 67176TAV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $198119.87    | 0.05%             | 2031-09-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2951000 | PA      | $2949346.08   | 0.80%             | 2035-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                      | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REVENUE              | CUSIP: 20775DYW6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    205000 | PA      | $191845.95    | 0.05%             | 2054-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                           | OKLAHOMA ST DEV FIN AUTH                                     | CUSIP: 6789083W2<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |    250000 | PA      | $239654.41    | 0.07%             | 2051-09-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Club Municipal Management District No 1                                          | CLUB MUNI MGMT DIST #1 TX SPL ASSMNT REVENUE                 | CUSIP: 18948PAH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1514958.35   | 0.41%             | 2031-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| City of Pilot Point TX                                                           | PILOT POINT TX SPL ASSMNT REVENUE                            | CUSIP: 721614BB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $137661.19    | 0.04%             | 2045-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                                       | STAMFORD CT HSG AUTH                                         | CUSIP: 852640AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1514309.58   | 0.41%             | 2030-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783U38<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    945000 | PA      | $917822.89    | 0.25%             | 2034-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                  | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CBJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $90478.67     | 0.02%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                           | ARKANSAS ST DEV FIN AUTH INDL DEV REVENUE                    | CUSIP: 04108WCE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061649.40   | 0.29%             | 2048-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                            | ILLINOIS ST TOLL HIGHWAY AUTH                                | CUSIP: 452252KR9<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |    250000 | PA      | $249901.24    | 0.07%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Magnolia Island Community Development District                                   | MAGNOLIA ISLAND CDD FL CAPITAL IMPT REVENUE                  | CUSIP: 559613AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $748047.18    | 0.20%             | 2045-05-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                            | ILLINOIS ST TOLL HIGHWAY AUTH                                | CUSIP: 452252JV2<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4997777.20   | 1.36%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CBB4<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    230000 | PA      | $211034.49    | 0.06%             | 2048-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116ET9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $514621.05    | 0.14%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Alabama Gas Supply District/The                                        | S E ALABAMA ST GAS SPLY DIST GAS SPLY REVENUE                | CUSIP: 84131TBA9<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055205.84   | 0.29%             | 2054-08-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250DN1<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    175000 | PA      | $142868.17    | 0.04%             | 2050-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tulsa County Industrial Authority                                                | TULSA CNTY OK INDL AUTH SENIOR LIVING CMNTY REVENUE          | CUSIP: 899530AX7<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    335000 | PA      | $342669.69    | 0.09%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tradition Community Development District No 9                                    | TRADITION CDD #9 FL SPL ASSMNT                               | CUSIP: 89269NAE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $538574.65    | 0.15%             | 2032-05-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| County of King WA Sewer Revenue                                                  | KING CNTY WA SWR REVENUE                                     | CUSIP: 4952893L2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $478041.42    | 0.13%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                  | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CBN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050869.52   | 0.29%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| East Nassau Stewardship District                                                 | EAST NASSAU STEWARDSHIP DIST FL                              | CUSIP: 27379AAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    885000 | PA      | $885415.92    | 0.24%             | 2029-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Aviation Revenue                                         | MIAMI-DADE CNTY FL AVIATION REVENUE                          | CUSIP: 59333PZ92<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3444213.40   | 0.94%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                                       | STAMFORD CT HSG AUTH                                         | CUSIP: 852640AG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $818470.64    | 0.22%             | 2035-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505YB6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $446962.51    | 0.12%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Juban Crossing Community Development District                                    | JUBAN CROSSING CDD LIVINGSTON PARISH LA SPL ASSMNT           | CUSIP: 48130GAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3027334.89   | 0.83%             | 2034-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Camden County Improvement Authority/The                                          | CAMDEN CNTY NJ IMPT AUTH SCH REVENUE                         | CUSIP: 13281PAD9<br>LEI: 549300UTQBT9ZE0QFB15 | Long             | DBT              | MUN               | US        |     75000 | PA      | $77080.26     | 0.02%             | 2062-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | CALIFORNIA ST MUNI FIN AUTH SCH FAC REVENUE                  | CUSIP: 13051BAD8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    200000 | PA      | $201146.88    | 0.05%             | 2059-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                           | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YTM8<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    900000 | PA      | $883060.52    | 0.24%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CEH8<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    100000 | PA      | $76415.92     | 0.02%             | 2056-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp                                     | NEW YORK ST ENVRNMNTL FACS CORP SOL WST DISP REVENUE         | CUSIP: 649852AT7<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254932.37    | 0.07%             | 2050-09-01      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI MENTAL HLTHCARE FACS REVENUE              | CUSIP: 74443XAC1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |     65000 | PA      | $42562.98     | 0.01%             | 2051-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| West Villages Improvement District                                               | W VLGS FL IMPT DIST                                          | CUSIP: 956454BJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1643562.85   | 0.45%             | 2039-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE        | CUSIP: 708686ET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $231481.53    | 0.06%             | 2037-12-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Port of Morrow OR                                                                | PORT OF MORROW OR                                            | CUSIP: 73473RFG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1572371.67   | 0.43%             | 2026-10-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MF AFFORDABLE HSG                       | CUSIP: 63610CAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $472308.22    | 0.13%             | 2042-04-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TG98<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $875312.07    | 0.24%             | 2031-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                                        | BlackRock Liquidity Funds: MuniCash, Institutional Shares    | CUSIP: 09248U841<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |  48784358 | NS      | $48789236.16  | 13.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Michigan Strategic Fund                                                          | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                  | CUSIP: 594698SR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $544103.30    | 0.15%             | 2061-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Reflection Bay Community Development District                                    | REFLECTION BAY CDD FL SPL ASSMNT                             | CUSIP: 75865NAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $328551.74    | 0.09%             | 2030-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Berks County Municipal Authority/The                                             | BERKS CNTY PA MUNI AUTH UNIV REVENUE                         | CUSIP: 08454AAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $357589.19    | 0.10%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                           | ARKANSAS DEV FIN AUTH ENVIRONMENTAL REVENUE                  | CUSIP: 04110FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $145724.12    | 0.04%             | 2052-09-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                              | NORTH DAKOTA ST HSG FIN AGY                                  | CUSIP: 6589096Q4<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    750000 | PA      | $712640.02    | 0.19%             | 2049-07-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Cabot Citrus Farms Community Development District                                | CABOT CITRUS FARMS FL CDD                                    | CUSIP: 127052AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505002.33    | 0.14%             | 2029-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Mission Economic Development Corp                                                | MISSION TX ECON DEV CORP REVENUE                             | CUSIP: 605156AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3995578.32   | 1.09%             | 2031-10-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| California Enterprise Development Authority                                      | CALIFORNIA ST ENTERPRISE DEV AUTH CHRT SCH REVENUE           | CUSIP: 13069AAB4<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |    600000 | PA      | $523685.53    | 0.14%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Redtail Ridge Metropolitan District                                              | REDTAIL RIDGE MET DIST CO                                    | CUSIP: 75773CAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2193000 | PA      | $1347138.23   | 0.37%             | 2032-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp/RI                                             | TOBACCO SETTLEMENT FING CORP RI                              | CUSIP: 888809BG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $54522.73     | 0.01%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority                           | MAINE HLTH & HGR EDUCTNL FACS AUTH REVENUE                   | CUSIP: 56042R8P0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $229282.74    | 0.06%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH SPL REVENUE                             | CUSIP: 63608TAS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1538926.10   | 0.42%             | 2033-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| City of Baltimore MD                                                             | BALTIMORE MD SPL OBLIG                                       | CUSIP: 05923TCZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100162.67    | 0.03%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Beaver County Industrial Development Authority                                   | BEAVER CNTY PA INDL DEV AUTH                                 | CUSIP: 074876HP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $229434.88    | 0.06%             | 2047-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PP41<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1299000 | PA      | $816969.18    | 0.22%             | 2032-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bexar County Health Facilities Development Corp                                  | BEXAR CNTY TX HLTH FACS DEV CORP                             | CUSIP: 088354FJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110399.97    | 0.03%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Navigation District                                             | PORT BEAUMONT TX NAV DIST DOCK& WHARF FAC REVENUE            | CUSIP: 73360CAR5<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    600000 | PA      | $543322.36    | 0.15%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PD93<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    627310 | PA      | $607690.24    | 0.17%             | 2032-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Parrish Plantation Community Development District                                | PARRISH PLANTATION CMNTY DEV DIST FL SPL ASSMNT REVENUE      | CUSIP: 701830AN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251480.85    | 0.07%             | 2044-05-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Babcock Ranch Community Independent Special District                             | BABCOCK RANCH CMNTY INDEP SPL DIST FL SPL ASSMNT REVENUE     | CUSIP: 05616KBQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $97745.81     | 0.03%             | 2032-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of Friendswood TX                                                           | FRIENDSWOOD TX SPL ASSMNT REVENUE                            | CUSIP: 358591AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    303000 | PA      | $293007.46    | 0.08%             | 2054-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| James City County Economic Development Authority                                 | JAMES CITY CNTY VA ECON DEV AUTH RSDL CARE FAC REVENUE       | CUSIP: 47029WEK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $85092.48     | 0.02%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Corpus Christi TX                                                        | CORPUS CHRISTI TX SPL ASSMNT REVENUE                         | CUSIP: 220233AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    103000 | PA      | $96779.65     | 0.03%             | 2054-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Suffolk Regional Off-Track Betting Corp                                          | SUFFOLK REGL OFF-TRACK BETTING CORP NY REV                   | CUSIP: 86480TAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $204209.81    | 0.06%             | 2044-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PF59<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1754744.04   | 0.48%             | 2044-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tobacco Securitization Authority of Southern California                          | TOBACCO SECURITIZATION AUTH STHRN CA TOBACCO SETTLEMENT REVE | CUSIP: 888804CR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $959155.12    | 0.26%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority/FL                                            | CAPITAL PROJS FIN AUTH FL EDUCTNL FACS REVENUE               | CUSIP: 14043FAJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98110.99     | 0.03%             | 2059-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | LOUISIANA PUB FACS AUTH REVENUE                              | CUSIP: 546399TY2<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    665000 | PA      | $605370.55    | 0.17%             | 2043-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                           | PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE           | CUSIP: 70342PAN4<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |    160000 | PA      | $169695.83    | 0.05%             | 2054-10-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                          | BUILD NYC RESOURCE CORP NY REVENUE                           | CUSIP: 12008EUP9<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    250000 | PA      | $223924.50    | 0.06%             | 2063-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Hardeeville SC                                                           | HARDEEVILLE SC ASSMNT REVENUE                                | CUSIP: 411716AF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $70838.65     | 0.02%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kings Creek I Community Development District                                     | KINGS CREEK I CDD FL SPL ASSMNT                              | CUSIP: 495879AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $462079.14    | 0.13%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TUW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $759952.73    | 0.21%             | 2037-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783U46<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $921957.78    | 0.25%             | 2044-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                              | IDAHO ST HSG & FIN ASSN NONPROFIT FACS REVENUE               | CUSIP: 45129GCV5<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    625000 | PA      | $615446.23    | 0.17%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE        | CUSIP: 708686ES5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $130837.38    | 0.04%             | 2038-12-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority                                  | KENTUCKY ST ECON DEV FIN AUTH                                | CUSIP: 49126KKE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998067.09    | 0.27%             | 2041-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hope Higher Education Finance Corp                                           | NEW HOPE TX HGR EDU FIN CORP EDU REVENUE                     | CUSIP: 645438AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $238570.69    | 0.07%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BDA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $151582.54    | 0.04%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Boggy Creek Improvement District                                                 | BOGGY CREEK FL IMPT DIST SPL ASSMNT REVENUE                  | CUSIP: 097206AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $440213.88    | 0.12%             | 2043-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Doylestown Hospital Authority                                                    | DOYLESTOWN PA HOSP AUTH                                      | CUSIP: 261333HJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $108372.04    | 0.03%             | 2039-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                        | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 574218T37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $245991.46    | 0.07%             | 2046-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Madeira Community Development District                                           | MADEIRA FL CDD CAPITAL IMPT REVENUE                          | CUSIP: 556344AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $590320.98    | 0.16%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lowery Hills Community Development District                                      | LOWERY HILLS CDD FL SPL ASSMNT                               | CUSIP: 548652AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $443554.02    | 0.12%             | 2032-05-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | CALIFORNIA ST MUNI FIN AUTH SPL FAC REVENUE                  | CUSIP: 13050RAA0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   7200000 | PA      | $7068977.06   | 1.93%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ranches at Lake Mcleod Community Development District                            | RANCHES AT LAKE MCLEOD CDD FL SPL ASSMNT                     | CUSIP: 752041AD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $261258.56    | 0.07%             | 2030-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 14                                     | VLG FL CDD #14 SPL ASSMNT REVENUE                            | CUSIP: 92708JAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $96336.75     | 0.03%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505WC6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $903942.57    | 0.25%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Greater Cincinnati Development Authority                                 | PORT OF GTR CINCINNATI DEV AUTH OH REVENUE                   | CUSIP: 734195BQ2<br>LEI: 549300IK2RCZBY62ST97 | Long             | DBT              | MUN               | US        |    240000 | PA      | $230257.69    | 0.06%             | 2031-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TEV5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1526722.98   | 0.42%             | 2056-05-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                 | MARICOPA CNTY AZ INDL DEV AUTH EDU REVENUE                   | CUSIP: 56681NJD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3869294.93   | 1.06%             | 2029-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Babcock Ranch Community Independent Special District                             | BABCOCK RANCH CMNTY INDEP SPL DIST FL SPL ASSMNT REVENUE     | CUSIP: 05616KBR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $949093.48    | 0.26%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allentown Neighborhood Improvement Zone Development Authority                    | ALLENTOWN PA NEIGHBORHOOD IMPT ZONE DEV AUTH TAX REVENUE     | CUSIP: 018444CA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1978201.14   | 0.54%             | 2042-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pueblo Urban Renewal Authority                                                   | PUEBLO CO URBAN RENEWAL AUTH TAX INCR REVENUE                | CUSIP: 744826AX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $145650.00    | 0.04%             | 2025-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Riverpark Metropolitan District/Arapahoe County                                  | RIVERPARK MET DIST CO LIMITED TAX & SPL REVENUE              | CUSIP: 76883BAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $943252.72    | 0.26%             | 2054-12-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                                                | CELINA TX SPL ASSESSMENT REVENUE                             | CUSIP: 15114CKS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $204459.35    | 0.06%             | 2030-09-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cuyahoga County Port Authority                                         | CLEVELAND-CUYAHOGA CNTY OH PORT AUTH LEASE REVENUE           | CUSIP: 18610RCD4<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |    750000 | PA      | $772335.72    | 0.21%             | 2034-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Newfield Community Development District                                          | NEWFIELD CDD FL SPL ASSMNT REVENUE                           | CUSIP: 65128AAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $817390.98    | 0.22%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Princeton TX                                                             | PRINCETON TX SPL ASSMNT REVENUE                              | CUSIP: 742400CP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50373.18     | 0.01%             | 2031-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Alachua County Housing Finance Authority                                         | ALACHUA CNTY FL HSG FIN AUTH MF REVENUE                      | CUSIP: 01068LAU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1838690.86   | 0.50%             | 2029-07-01      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| County of Denton TX                                                              | DENTON CNTY TX SPL ASSMNT REVENUE                            | CUSIP: 24880GAQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974064.94    | 0.27%             | 2035-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillcrest Preserve Community Development District                                | HILLCREST PRESERVE CDD FL SPL ASSMNT                         | CUSIP: 43153EAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $937730.33    | 0.26%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE              | CUSIP: 74440DCM4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504078.30    | 0.14%             | 2050-02-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93961.45     | 0.03%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| East Central Vermont Telecommunications District                                 | EAST CENTRL VT TELECOMMUNICATIONS DIST PROJ REVENUE          | CUSIP: 271524AY6<br>LEI: 549300UHVQS0JED3EZ33 | Long             | DBT              | MUN               | US        |    100000 | PA      | $80049.38     | 0.02%             | 2044-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Angelina & Neches River Authority                                                | ANGELINA & NECHES RIVER AUTH IND DEV CORP                    | CUSIP: 03469KAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $9951.00      | 0.00%             | 2045-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP                                      | CUSIP: 340618DY0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   2900000 | PA      | $1798000.00   | 0.49%             | 2059-07-15      | Variable      | 12.00%                | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                            | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |  10350000 | PA      | $9211500.00   | 2.51%             | 2065-01-01      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| West Villages Improvement District                                               | W VLGS FL IMPT DIST                                          | CUSIP: 956454CK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $504026.77    | 0.14%             | 2031-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Normandy Community Development District                                          | NORMANDY CDD FL CAPITAL IMPT REVENUE                         | CUSIP: 65618HAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1458671.27   | 0.40%             | 2044-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Hospitals & Higher Education Facilities Authority of Philadelphia/The            | PHILADELPHIA PA HOSPS & HGR EDU FACS AUTH                    | CUSIP: 717903L89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4870000 | PA      | $4931392.92   | 1.34%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505TK2<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $450104.41    | 0.12%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Erie Tobacco Asset Securitization Corp                                           | ERIE CNTY NY TOBACCO ASSET SECURITIZATION CORP TOBACCO SETTL | CUSIP: 295095BA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1814680.18   | 0.49%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                           | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SMJ0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $480922.51    | 0.13%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Pilot Point TX                                                           | PILOT POINT TX SPL ASSMNT REVENUE                            | CUSIP: 721614AX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99140.05     | 0.03%             | 2045-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Mohegan Tribal Finance Authority                                                 | MOHEGAN TRIBAL CT FIN AUTH                                   | CUSIP: 608327AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $451609.89    | 0.12%             | 2045-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $921028.60    | 0.25%             | 2031-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                             | COLORADO EDUCTNL & CULTURAL AUTH REVENUE                     | CUSIP: 19645UHJ6<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    125000 | PA      | $122107.85    | 0.03%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA REVENUE                                     | CUSIP: 25483VA61<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |     90000 | PA      | $98484.18     | 0.03%             | 2037-02-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $480057.38    | 0.13%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency                                  | CALIFORNIA CNTY CA TOBACCO SECURITIZATION AGY TOBACCO SETTLE | CUSIP: 13016NDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1244548.20   | 0.34%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PD28<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1938441.62   | 0.53%             | 2032-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima/The                       | PIMA CNTY AZ INDL DEV AUTH EDU REVENUE                       | CUSIP: 72177MSV0<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1077241.73   | 0.29%             | 2049-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TDB0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2158119.96   | 0.59%             | 2054-10-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    515000 | PA      | $357998.87    | 0.10%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority                                             | VIRGINIA BEACH VA DEV AUTH RSDL CARE FAC REVENUE             | CUSIP: 92774NBF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101095.95    | 0.03%             | 2029-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Berry Bay II Community Development District                                      | BERRY BAY II CDD FL SPL ASSMNT                               | CUSIP: 08577DAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $214218.22    | 0.06%             | 2031-05-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TKA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $492273.22    | 0.13%             | 2044-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Seagoville TX                                                            | SEAGOVILLE TX SPL ASSMNT REVENUE                             | CUSIP: 811829AD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    954000 | PA      | $958080.36    | 0.26%             | 2030-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUB FIN AUTH WI TAX INCREMENT REVNUE                         | CUSIP: 74448EAA2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $970159.99    | 0.26%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | LOUISIANA PUB FACS AUTH REVENUE                              | CUSIP: 546399PJ9<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    100000 | PA      | $90376.49     | 0.02%             | 2062-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PUA1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    285000 | PA      | $290566.67    | 0.08%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hyde Park Community Development District No 1                                    | HYDE PARK CDD #1 FL SPL ASSMNT                               | CUSIP: 448642AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1713415.56   | 0.47%             | 2034-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Lee County Industrial Development Authority/FL                                   | LEE CNTY FL INDL DEV AUTH HLTHCR FACS REVENUE                | CUSIP: 52349EER7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252159.98    | 0.07%             | 2029-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Sierra Vista Industrial Development Authority                                    | SIERRA VISTA AZ INDL DEV AUTH AUTH ED FAC REV                | CUSIP: 82652UAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034700.55   | 0.28%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Financing Authority                                         | CALIFORNIA ST STWD FING AUTH TOBACCO SETTLEMENT              | CUSIP: 130923BQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $251940.30    | 0.07%             | 2055-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Industrial Development Board | MET GOVT NASHVILLE & DAVIDSON CNTY TN INDL DEV BRD SPL ASSMN | CUSIP: 59211SAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $38879.43     | 0.01%             | 2043-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-29

**Name of Applicant:** BlackRock ETF Trust II

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer