# EDGAR Filing Document

**Accession Number:** 0000908695
**File Stem:** 0001004726-25-001623
**Filing Date:** 2025-10
**Character Count:** 160225
**Document Hash:** 70dca06ac62155ecdfa92dab4713a1a8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-001623.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001004726-25-001623

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS III
- **CENTRAL INDEX KEY:** 0000908695

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07852
- **FILM NUMBER:** 251422636

**BUSINESS ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **STREET 2:** BUILDING TWO
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256
- **BUSINESS PHONE:** 210-697-3625

**MAIL ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **STREET 2:** BUILDING TWO
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA MUTUAL FUNDS TRUST
- **DATE OF NAME CHANGE:** 20060420

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA STATE TAX FREE TRUST
- **DATE OF NAME CHANGE:** 19940325

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA STATE TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19930707

## Series and Classes Contracts Data

### Victory Tax Exempt Short-Term Fund (Formerly USAA Tax Exempt Short-Term Fund) (Series ID: S000012912)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000034881 | Victory Tax Exempt Short-Term Fund Shares               | USSTX           |
| C000220625 | Victory Tax Exempt Short-Term Fund Class A              | UTESX           |
| C000220626 | Victory Tax Exempt Short-Term Fund Institutional Shares | USTIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Victory Portfolios III

- **b. Investment Company Act file number:** 811-07852

- **c. CIK number of Registrant:** 0000908695

- **d. LEI of Registrant:** 549300WIDR2J6W1Y9S11

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

  - **Street Address 1:** 15935 La Cantera Pkwy Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 800-235-8396

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

- **a. Name of Series:** Victory Tax Exempt Short-Term Fund

- **b. EDGAR series identifier (if any):** S000012912

- **c. LEI of Series:** 549300HBQJXW0J04OC16

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-08-31

**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:** $656391382.62

**Total Liabilities:** $8343609.73

**Net Assets:** $648047772.89

**Cash Not Reported:** $40397.71

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -2579.82717464 | **1-Year:** -22788.93475848 | **5-Year:** -64611.95013575 | **10-Year:** -114561.34161254 | **30-Year:** -57665.31384566

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

- **3-Month:** -80.35985996 | **1-Year:** -1353.39959480 | **5-Year:** -3183.23763598 | **10-Year:** -1114.71257995 | **30-Year:** -1312.39124306

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000220625 | 0.71%                | 0.50%                | 0.61%                |
| Class ID C000220626 | 0.63%                | 0.53%                | 0.63%                |
| Class ID C000034881 | 0.62%                | 0.62%                | 0.62%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $2747651.35                                |
| Month 2  | $-4836.01                | $2104554.26                                |
| Month 3  | $-1910.22                | $2474854.65                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GALVESTON TEX WHARVES & TERM REV                                              | CITY OF GALVESTON TX WHARVES TERMINAL REVENUE      | CUSIP: 364568JQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $264648.65    | 0.04%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS SPORTS FACS AUTH                                                     | ILLINOIS SPORTS FACILITIES AUTHORITY THE           | CUSIP: 452143FU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $627226.29    | 0.10%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                       | WISCONSIN HEALTH EDUCATIONAL FACILITIES AUTHORIT   | CUSIP: 97712JDX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $344966.62    | 0.05%             | 2026-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MOUNT VERNON N Y                                                              | CITY OF MOUNT VERNON NY                            | CUSIP: 623589QJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6548638.92   | 1.01%             | 2025-12-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TROY N Y CAP RESOURCE CORP REV                                                | TROY NY CAPITAL RESOURCE CORP REVENUE              | CUSIP: 897579AY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1059823.48   | 0.16%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH REV                                       | WASHINGTON HEALTH CARE FACILITIES AUTHORITY        | CUSIP: 93978HSE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2023664.25   | 0.31%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV                         | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT  | CUSIP: 84136HAX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $347868.92    | 0.05%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH REV                                       | WASHINGTON HEALTH CARE FACILITIES AUTHORITY        | CUSIP: 93978HSF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2254113.90   | 0.35%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL WTR REV                                                           | CITY OF CHICAGO IL WATERWORKS REVENUE              | CUSIP: 167736F51<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4014373.17   | 0.62%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                       | WISCONSIN HEALTH EDUCATIONAL FACILITIES AUTHORIT   | CUSIP: 97712JCE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $314069.48    | 0.05%             | 2031-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                         | ILLINOIS FINANCE AUTHORITY                         | CUSIP: 45204FYS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $919285.61    | 0.14%             | 2034-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                            | CHICAGO IL BRD OF EDU                              | CUSIP: 167505XW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028444.14   | 0.16%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL WTR REV                                                           | CITY OF CHICAGO IL WATERWORKS REVENUE              | CUSIP: 167736G35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2539688.11   | 0.39%             | 2026-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH ED REV                                       | MARICOPA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY   | CUSIP: 56681NEL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $729304.69    | 0.11%             | 2029-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FARMINGTON N MEX POLLUTN CTL REV                                              | CITY OF FARMINGTON NM                              | CUSIP: 311450GF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $613227.49    | 0.09%             | 2040-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MISSION TEX ECONOMIC DEV CORP SOLID WASTE DISP REV                            | MISSION ECONOMIC DEVELOPMENT CORP                  | CUSIP: 605155BM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4000103.76   | 0.62%             | 2026-01-01      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| LUZERNE CNTY PA INDL DEV AUTH LEASE REV                                       | LUZERNE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY    | CUSIP: 55072RBE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $553741.85    | 0.09%             | 2025-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTERN ILL UNIV REVS                                                         | WSTRN IL UNIV                                      | CUSIP: 958366L79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $776666.16    | 0.12%             | 2030-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                       | WISCONSIN HEALTH EDUCATIONAL FACILITIES AUTHORIT   | CUSIP: 97712JCB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201880.97    | 0.03%             | 2028-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER ARIZ INDL DEV AUTH INDL DEV REV                                      | CHANDLER INDUSTRIAL DEVELOPMENT AUTHORITY          | CUSIP: 158862CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2523957.44   | 0.39%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV                       | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY    | CUSIP: 13013JEA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4182544.56   | 0.65%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SELMA ALA INDL DEV BRD REV                                                    | SELMA INDUSTRIAL DEVELOPMENT BOARD                 | CUSIP: 81647PAG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4525000 | PA      | $4477560.21   | 0.69%             | 2033-11-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| MARTIN CNTY TEX HOSP DIST                                                     | MARTIN COUNTY HOSPITAL DISTRICT                    | CUSIP: 57325VAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $362677.43    | 0.06%             | 2032-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CUYAHOGA CNTY OHIO PORT AUTH LEASE REV                              | CLEVELAND CUYAHOGA COUNTY PORT AUTHORITY           | CUSIP: 18610RCD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517197.57    | 0.08%             | 2034-01-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV                                | KENTUCKY PUBLIC ENERGY AUTHORITY                   | CUSIP: 74440DEL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1052404.71   | 0.16%             | 2055-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CONN                                                                | CITY OF NEW HAVEN CT                               | CUSIP: 6450208B7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $554842.95    | 0.09%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                 | COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FVZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $351294.66    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH ED REV                                                  | ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 04052BMR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $390132.90    | 0.06%             | 2031-12-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEV CORP LIBERTY REV                                         | ONE BRYANT PARK LLC                                | CUSIP: 649519DH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14950000 | PA      | $13821192.42  | 2.13%             | 2069-09-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| LEWISBURG TENN INDL DEV BRD SOLID WASTE DISP REV                              | LEWISBURG INDUSTRIAL DEVELOPMENT BOARD             | CUSIP: 528236AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1498795.62   | 0.23%             | 2035-07-02      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST HOSP EQUIP LN COUNCIL HOSP REV                                  | NEW MEXICO HOSPITAL EQUIPMENT LOAN COUNCIL         | CUSIP: 647370KD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $819751.48    | 0.13%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV                                 | MARYLAND HEALTH HIGHER EDUCATIONAL FACILITIES AU   | CUSIP: 5742187X5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1213586.14   | 0.19%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH REV                                              | OHIO ST AIR QUALITY DEV AUTH                       | CUSIP: 677525WG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3135387.86   | 0.48%             | 2038-12-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BK SPEARS/LIFERS TR VAR STS                                          | DEUTSCHE BANK SPEARS LIFERS TRUST                  | CUSIP: 25155W8E2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      8849 | PA      | $8849.00      | 0.00%             | 2050-08-01      | Floating      | 4.15%                 | Yes           |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH REV                                                  | TEMPE INDUSTRIAL DEVELOPMENT AUTHORITY             | CUSIP: 87972MBM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $359156.25    | 0.06%             | 2028-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HEALTH & EDL FACS AUTH REV                                    | SOUTH DAKOTA HEALTH EDUCATIONAL FACILITIES AUTHO   | CUSIP: 8375595Y5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $900000.00    | 0.14%             | 2027-11-01      | Variable      | 3.63%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BK SPEARS/LIFERS TR VAR STS                                          | DEUTSCHE BANK SPEARS LIFERS TRUST                  | CUSIP: 25155W8H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5855000 | PA      | $5855000.00   | 0.90%             | 2063-06-01      | Floating      | 4.15%                 | Yes           |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS EDL FAC REV                                               | PUBLIC FINANCE AUTHORITY                           | CUSIP: 74443DGY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $823395.59    | 0.13%             | 2028-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH REV                                             | CHESTER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY    | CUSIP: 165588FP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3375000 | PA      | $3421955.74   | 0.53%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                                             | SALES TAX SECURITIZATION CORP                      | CUSIP: 79467BCV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2184497.53   | 0.34%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS SPORTS FACS AUTH                                                     | ILLINOIS SPORTS FACILITIES AUTHORITY THE           | CUSIP: 452143FJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1053151.63   | 0.16%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                         | ILLINOIS ST FIN AUTH REVENUE                       | CUSIP: 45204FHM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2238294.75   | 0.35%             | 2042-05-01      | Floating      | 3.43%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CONN                                                                | CITY OF NEW HAVEN CT                               | CUSIP: 6450208A9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $620465.56    | 0.10%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA BD BK REV                                                             | INDIANA BOND BANK                                  | CUSIP: 45462TJP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1037249.76   | 0.16%             | 2028-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH HEALTH FAC REV                                               | INDIANA FINANCE AUTHORITY                          | CUSIP: 45471CBP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1246426.41   | 0.19%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                         | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE       | CUSIP: 928104MQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1330902.20   | 0.21%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                         | ILLINOIS FINANCE AUTHORITY                         | CUSIP: 45204E2L1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3500000.00   | 0.54%             | 2034-11-01      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL PK DIST                                                           | CHICAGO PARK DISTRICT                              | CUSIP: 167615F40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $619014.13    | 0.10%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLAIRTON PA MUN AUTH SWR REV                                                  | CLAIRTON MUNICIPAL AUTHORITY                       | CUSIP: 179630DC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $688938.92    | 0.11%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CONN                                                                | CITY OF NEW HAVEN CT                               | CUSIP: 6450205S3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $590818.80    | 0.09%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN ILL UNIV REVS                                                        | NORTHERN ILLINOIS UNIVERSITY                       | CUSIP: 665245YZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $352461.37    | 0.05%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIERRA VIEW LOC HEALTH CARE DIST CALIF REV                                    | SIERRA VIEW CA LOCAL HLTH CARE DIST                | CUSIP: 82650PDK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $339916.34    | 0.05%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS EDL FAC REV                                               | PUBLIC FINANCE AUTHORITY                           | CUSIP: 74443DGX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $787048.12    | 0.12%             | 2027-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| NORTHERN ILL UNIV REVS                                                        | NORTHERN ILLINOIS UNIVERSITY                       | CUSIP: 665245YG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $269963.51    | 0.04%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLINT MICH HOSP BLDG AUTH REV                                                 | FLINT MI HOSP BLDG AUTH REVENUE                    | CUSIP: 339511ER4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2290000 | PA      | $2331716.95   | 0.36%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH ED REV                                       | MARICOPA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY   | CUSIP: 56681NGR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $487644.23    | 0.08%             | 2031-07-01      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH REV                                                  | TEMPE INDUSTRIAL DEVELOPMENT AUTHORITY             | CUSIP: 87972MBP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $483028.03    | 0.07%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS REV                                              | CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS         | CUSIP: 5444457P8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2030000 | PA      | $2243338.64   | 0.35%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHATOM ALA INDL DEV BRD GULF OPPORTUNITY ZONE                                 | CHATOM INDUSTRIAL DEVELOPMENT BOARD                | CUSIP: 16229PAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1405149.96   | 0.22%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL SPL ASSMT                                                         | CITY OF CHICAGO IL SPECIAL ASSESSMENT REVENUE      | CUSIP: 167686AH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $299156.73    | 0.05%             | 2026-12-01      | Fixed         | 2.69%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO ILL TRAN AUTH CAP GRNT RCPTS REV                                      | CHICAGO TRANSIT AUTHORITY                          | CUSIP: 167723GP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016976.62   | 0.16%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FULTON N Y                                                                    | CITY OF FULTON NY                                  | CUSIP: 360658UT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4925000 | PA      | $5010587.06   | 0.77%             | 2026-07-31      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALACHUA CNTY FLA HEALTH FACS AUTH CONTINUING CARE RETIREMENT CMNTY REV        | ALACHUA COUNTY HEALTH FACILITIES AUTHORITY         | CUSIP: 010684BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002786.64   | 0.15%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MARQUIS CMNTY DEV AUTH VA REV                                                 | MARQUIS COMMUNITY DEVELOPMENT AUTHORITY OF YORK CO | CUSIP: 57161CAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1074000 | PA      | $401138.98    | 0.06%             | 2045-09-01      | Fixed         | 7.50%                 | Yes           |                  3 | On Loan: No      |
| SIERRA VIEW LOC HEALTH CARE DIST CALIF REV                                    | SIERRA VIEW LOCAL HEALTH CARE DISTRICT CA          | CUSIP: 82650PDH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $327509.64    | 0.05%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BK SPEARS/LIFERS TR VAR STS                                          | DEUTSCHE BANK SPEARS LIFERS TRUST                  | CUSIP: 25156SGB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.15%             | 2054-07-01      | Floating      | 4.10%                 | Yes           |                  2 | On Loan: No      |
| GALVESTON TEX WHARVES & TERM REV                                              | CITY OF GALVESTON TX WHARVES TERMINAL REVENUE      | CUSIP: 364568JN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $288952.79    | 0.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS REV                                                       | PUBLIC FIN AUTH WI REVENUE                         | CUSIP: 74442PQT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1778517.80   | 0.27%             | 2030-01-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                        | MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DBJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1872493.64   | 0.29%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS STUDENT HSG REV                                           | PUBLIC FINANCE AUTHORITY                           | CUSIP: 74439YGD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $778400.75    | 0.12%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOC GOVT ENVIRONMENTAL FACS & CMNTY DEV AUTH REV                    | LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIE | CUSIP: 54628CUG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $933377.00    | 0.14%             | 2030-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINESS FIN CORP MISS POLLUTN CTL REV                            | MISSISSIPPI BUSINESS FINANCE CORP                  | CUSIP: 605277AL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4001427.00   | 0.62%             | 2028-09-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP TEX RETIREMENT FAC REV                     | NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR | CUSIP: 64542UHJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $988171.08    | 0.15%             | 2030-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS REV                             | NORTH CAROLINA MEDICAL CARE COMMISSION             | CUSIP: 65820YTQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $408920.88    | 0.06%             | 2029-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV                                   | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182TCU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014874.88   | 0.16%             | 2026-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEV FIN AUTH HEALTH CARE REV                                         | ARKANSAS DEVELOPMENT FINANCE AUTHORITY             | CUSIP: 04084RBN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1276807.41   | 0.20%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP N Y REV                                               | BUILD NYC RESOURCE CORP                            | CUSIP: 12008ESW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $124583.25    | 0.02%             | 2027-07-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP TENN GAS REV                                                    | TENNERGY CORP TN                                   | CUSIP: 880397CF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5332908.25   | 0.82%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                              | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584YD97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $316542.40    | 0.05%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN REGISTRATION FEE REV                                | PENNSYLVANIA TURNPIKE COMMISSION                   | CUSIP: 709222DS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2504666.71   | 0.39%             | 2041-07-15      | Floating      | 3.58%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NEV POLLUTN CTL REV                                                | COUNTY OF CLARK NV                                 | CUSIP: 181008BE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2509898.57   | 0.39%             | 2036-01-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FLINT MICH HOSP BLDG AUTH REV                                                 | FLINT MI HOSP BLDG AUTH REVENUE                    | CUSIP: 339511EQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1995000 | PA      | $2032490.27   | 0.31%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV                                   | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182TEP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1115604.96   | 0.17%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CONN                                                                | CITY OF NEW HAVEN CT                               | CUSIP: 6450205T1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038224.79   | 0.16%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH REV                                                  | TEMPE INDUSTRIAL DEVELOPMENT AUTHORITY             | CUSIP: 87972MBL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $351499.02    | 0.05%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                   | STATE OF ILLINOIS                                  | CUSIP: 4521525E7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5017771.15   | 0.77%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALACHUA CNTY FLA HEALTH FACS AUTH CONTINUING CARE RETIREMENT CMNTY REV        | ALACHUA COUNTY HEALTH FACILITIES AUTHORITY         | CUSIP: 010684BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1392309.53   | 0.21%             | 2030-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REV                                                       | INDIANA FINANCE AUTHORITY                          | CUSIP: 45506EPE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $976916.20    | 0.15%             | 2032-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MISSION TEX ECONOMIC DEV CORP SOLID WASTE DISP REV                            | MISSION ECONOMIC DEVELOPMENT CORP                  | CUSIP: 605155BS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1750000.00   | 0.27%             | 2040-07-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                        | MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DHT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12500000 | PA      | $13326430.32  | 2.06%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV                      | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHOR | CUSIP: 708692BV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3748209.86   | 0.58%             | 2049-04-01      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL WTR REV                                                           | CITY OF CHICAGO IL WATERWORKS REVENUE              | CUSIP: 167736G27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007197.88   | 0.31%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ASHLAND KY MED CTR REV                                                        | ASHLAND KY MED CENTER REVENUE                      | CUSIP: 044293BS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $802986.21    | 0.12%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST HOSP EQUIP LN COUNCIL HOSP REV                                  | NEW MEXICO HOSPITAL EQUIPMENT LOAN COUNCIL         | CUSIP: 647370KG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $739230.36    | 0.11%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH STUD LN                               | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUT | CUSIP: 646080YQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2116451.11   | 0.33%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUMMIT ACADEMY NORTH MICH PUB SCH ACADEMY REV                                 | SUMMIT ACADEMY NORTH                               | CUSIP: 86589TAT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $542486.80    | 0.08%             | 2026-11-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CONN                                                                | CITY OF NEW HAVEN CT                               | CUSIP: 6450208C5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $593109.24    | 0.09%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS CNTY N C INDL FACS & POLLUTN CTL FING AUTH ENVIRONMENTAL IMPT REV    | COLUMBUS COUNTY INDUSTRIAL FACILITIES POLLUTION    | CUSIP: 199040AH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1088354.97   | 0.17%             | 2033-11-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| LOS RANCHOS DE ALBUQUERQUE NEW MEXICO EDL FACS REV                            | VILLAGE OF LOS RANCHOS DE ALBUQUERQUE NM           | CUSIP: 545610BB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $328477.46    | 0.05%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H SR LIVING REV                                           | NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY           | CUSIP: 63608SAJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $279848.80    | 0.04%             | 2030-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS N D HEALTH CARE SYS REV                                           | CITY OF GRAND FORKS ND                             | CUSIP: 38546WDC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1280500.76   | 0.20%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV                         | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT  | CUSIP: 84136HAH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1600652.96   | 0.25%             | 2055-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA BD BK REV                                                             | INDIANA BOND BANK                                  | CUSIP: 45462TJM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1238584.28   | 0.19%             | 2027-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY GA DEV AUTH POLLUTION CTL REV                                     | DEVELOPMENT AUTHORITY OF MONROE COUNTY THE         | CUSIP: 610530FV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1506503.22   | 0.23%             | 2042-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV                      | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHOR | CUSIP: 708692BM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995995.94    | 0.15%             | 2049-04-01      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IND LOC PUB IMPT BD BK                                           | INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK    | CUSIP: 45528VFY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1630140.50   | 0.25%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST FACS AUTH REV                                                       | OREGON ST FACS AUTH REVENUE                        | CUSIP: 68608JYG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $319892.23    | 0.05%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REV                                                       | INDIANA FINANCE AUTHORITY                          | CUSIP: 45506EPD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990124.36    | 0.15%             | 2032-05-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX CULTURAL ED FACS FIN CORP MED FACS REV                        | HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANC | CUSIP: 414008CZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2156015.32   | 0.33%             | 2054-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP TENN GAS REV                                                    | TENNERGY CORP TN                                   | CUSIP: 880397BZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $551815.72    | 0.09%             | 2025-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                 | COMMONSPIRIT HEALTH OBL                            | CUSIP: 19648FJP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $540974.92    | 0.08%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                              | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57585BLH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $891233.22    | 0.14%             | 2026-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WESTERN ILL UNIV REVS                                                         | WSTRN IL UNIV                                      | CUSIP: 958366L61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $773817.21    | 0.12%             | 2029-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DIRECTOR ST NEV DEPT BUSINESS & IND SOLID WASTE DISP REV                      | STATE OF NEVADA DEPARTMENT OF BUSINESS INDUSTRY    | CUSIP: 25459JAF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1786625.38   | 0.28%             | 2026-12-01      | Variable      | 3.95%                 | Yes           |                  2 | On Loan: No      |
| LUZERNE CNTY PA INDL DEV AUTH LEASE REV                                       | LUZERNE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY    | CUSIP: 55072RBF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503348.16    | 0.08%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV                                   | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182TDV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2364953.20   | 0.36%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH HEALTH SVCS FAC LEASE REV                                   | ILLINOIS FINANCE AUTHORITY                         | CUSIP: 452031AH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $270697.31    | 0.04%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HIGHER EDL FACS FING AUTH REV                                         | FLORIDA INSTITUTE OF TECH                          | CUSIP: 34073TMQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $445514.08    | 0.07%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV                                   | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182TAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3026802.75   | 0.47%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV                         | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT  | CUSIP: 84136HBC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2565334.89   | 0.40%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV                                   | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182TDC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.03%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIMA CNTY ARIZ INDL DEV AUTH SR LIVING REV                                    | INDUSTRIAL DEVELOPMENT AUTHORITY OF THE COUNTY OF  | CUSIP: 72178AAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $661387.76    | 0.10%             | 2025-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| LITTLE FALLS N Y                                                              | CITY OF LITTLE FALLS NY                            | CUSIP: 537156GD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2030548.71   | 0.31%             | 2026-07-06      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                        | MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DHL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003921.97   | 0.15%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| POMPANO BEACH FLA REV                                                         | POMPANO BEACH FL REVENUE                           | CUSIP: 732203BA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3590000 | PA      | $3549405.16   | 0.55%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BK SPEARS/LIFERS TR VAR STS                                          | DEUTSCHE BANK SPEARS LIFERS TRUST                  | CUSIP: 25156SGE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5865000 | PA      | $5865000.00   | 0.91%             | 2060-03-01      | Floating      | 4.15%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                            | CHICAGO BOARD OF EDUCATION                         | CUSIP: 167505WK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1400934.07   | 0.22%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP EDL FACS REV                                             | FLORIDA DEVELOPMENT FINANCE CORP                   | CUSIP: 34061UFT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $368621.88    | 0.06%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERMONT ECONOMIC DEV AUTH MTG REV                                             | VERMONT ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 92415TBZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $220747.99    | 0.03%             | 2030-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH REV                                                  | TEMPE INDUSTRIAL DEVELOPMENT AUTHORITY             | CUSIP: 87972MBN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $371369.95    | 0.06%             | 2029-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH ED REV                                                  | ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 04052BNU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $216473.02    | 0.03%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL DEV CHARTER SCH REV                             | PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT  | CUSIP: 71780CAW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $216475.17    | 0.03%             | 2028-06-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PIEDMONT MUN PWR AGY S C ELEC REV                                             | PIEDMONT MUNICIPAL POWER AGENCY                    | CUSIP: 720175ZZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2271671.16   | 0.35%             | 2032-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERMONT ECONOMIC DEV AUTH MTG REV                                             | VERMONT ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 92415TBY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $431693.46    | 0.07%             | 2029-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS REV                             | NORTH CAROLINA ST MED CARE                         | CUSIP: 65820YSF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1250000.00   | 0.19%             | 2025-09-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY OHIO JT TWP HOSP DIST REV                                   | AKRON BATH COPLEY JOINT TOWNSHIP HOSPITAL DISTRICT | CUSIP: 009730PM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $388049.60    | 0.06%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH REV                                                  | TEMPE INDUSTRIAL DEVELOPMENT AUTHORITY             | CUSIP: 87972MBQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $451795.05    | 0.07%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                       | WISCONSIN ST HLTH EDUCTNL FACS AUTH                | CUSIP: 97712D5N2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $407535.43    | 0.06%             | 2030-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEASTERN OHIO PORT AUTH HOSP FACS REV                                     | SOUTHEASTERN OHIO PORT AUTHORITY                   | CUSIP: 841895AT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000052.95   | 0.15%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                   | STATE OF ILLINOIS                                  | CUSIP: 452152P21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8985000 | PA      | $9373513.23   | 1.45%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS DEV FIN AUTH SOLID WASTE DISP REV                                    | ILLINOIS DEVELOPMENT FINANCE AUTHORITY             | CUSIP: 451889AT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007416.69   | 0.31%             | 2044-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV                      | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHOR | CUSIP: 708692BT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5017685.70   | 0.77%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                       | WISCONSIN HEALTH EDUCATIONAL FACILITIES AUTHORIT   | CUSIP: 97712JCD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $321260.86    | 0.05%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA AUTH UNIV REV                                                | DELAWARE CNTY PA AUTH                              | CUSIP: 246008PM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $525393.01    | 0.08%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y REV                                              | MET TRANSPRTN AUTH NY REVENUE                      | CUSIP: 59261AL54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003217.47   | 0.31%             | 2032-11-01      | Floating      | 3.72%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH HEALTH FAC REV                                               | INDIANA FINANCE AUTHORITY                          | CUSIP: 45471CBL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $797683.86    | 0.12%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIDGEPORT CONN                                                               | CITY OF BRIDGEPORT CT                              | CUSIP: 108152AV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3450000 | PA      | $3533333.85   | 0.55%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CALIF TOB SECURITIZATION AGY TOB SETTLEMENT REV               | CALIFORNIA CNTY CA TOBACCO SECURITIZATION          | CUSIP: 13016NEN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $211258.96    | 0.03%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                       | WISCONSIN ST HLTH EDUCTNL FACS AUTH REVENUE        | CUSIP: 97712D6X9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2048256.68   | 0.32%             | 2051-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV                                | KENTUCKY PUBLIC ENERGY AUTHORITY                   | CUSIP: 74440DFN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5322834.40   | 0.82%             | 2055-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ENERGY SOUTHEAST ALA COOP DIST ENERGY SUPPLY REV                              | ENERGY SOUTHEAST A COOPERATIVE DISTRICT            | CUSIP: 292723BA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254913.56    | 0.04%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                              | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584YE39<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $364262.41    | 0.06%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                        | MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DFT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2124941.25   | 0.33%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                              | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584YPX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1480768.00   | 0.23%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                        | MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DBH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042370.45   | 0.16%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BK SPEARS/LIFERS TR VAR STS                                          | DEUTSCHE BANK SPEARS LIFERS TRUST                  | CUSIP: 25156SHA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.77%             | 2061-07-01      | Floating      | 4.15%                 | Yes           |                  2 | On Loan: No      |
| CHESTERTOWN MD ECONOMIC DEV PROJ REV                                          | TOWN OF CHESTERTOWN MD                             | CUSIP: 166630AK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1585864.25   | 0.24%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEV CORP LIBERTY REV                                         | ONE BRYANT PARK LLC                                | CUSIP: 649519DG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1529250.72   | 0.24%             | 2069-09-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| COBB CNTY GA DEV AUTH SOLID WASTE DISP REV                                    | COBB COUNTY GA DEV AUTH                            | CUSIP: 190784AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4737560.27   | 0.73%             | 2033-04-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS SUPPLY REV                                 | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182NCC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3352770.74   | 0.52%             | 2052-07-01      | Floating      | 4.32%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH ENVIRONMENTAL FACS REV                      | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 92810RAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500744.21   | 0.23%             | 2052-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MOUNT VERNON N Y                                                              | CITY OF MOUNT VERNON NY                            | CUSIP: 623589QK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2227281.30   | 0.34%             | 2026-05-29      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| IOWA STUDENT LN LIQUIDITY CORP STUDENT LN REV                                 | IOWA STUDENT LOAN LIQUIDITY CORP                   | CUSIP: 462590PT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $658719.24    | 0.10%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELEC & GAS REV                                                | CITY OF SAN ANTONIO TX ELECTRIC GAS SYSTEMS REVE   | CUSIP: 79625GFV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4996876.14   | 0.77%             | 2048-02-01      | Floating      | 3.60%                 | No            |                  2 | On Loan: No      |
| CENTRAL PLAINS ENERGY PROJ NEB GAS PROJ REV                                   | CENTRAL PLAINS ENERGY PROJECT                      | CUSIP: 154871CU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6321279.14   | 0.98%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP V GAS SUPPLY REV                      | TEXAS MUNICIPAL GAS ACQUISITION SUPPLY CORP V      | CUSIP: 88256RAK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2128948.52   | 0.33%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV                                 | MARYLAND HEALTH HIGHER EDUCATIONAL FACILITIES AU   | CUSIP: 5742187W7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1910000 | PA      | $2017934.26   | 0.31%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP TENN GAS REV                                                    | TENNERGY CORP TN GAS REVENUE                       | CUSIP: 880397BW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4130000 | PA      | $4201063.78   | 0.65%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GILLIAM CNTY ORE SOLID WASTE DISP REV                                         | COUNTY OF GILLIAM OR                               | CUSIP: 37580TAF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6250000 | PA      | $6268037.80   | 0.97%             | 2038-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                        | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE  | CUSIP: 56035DEE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6292074.74   | 0.97%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV                         | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT  | CUSIP: 84136HAU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3106514.05   | 0.48%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX CULTURAL ED FACS FIN CORP REV                                 | HARRIS CNTY TEX CULTURAL EDU FACS FIN CORP         | CUSIP: 414009MP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1438841.05   | 0.22%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARQUIS CMNTY DEV AUTH VA REV                                                 | MARQUIS COMMUNITY DEVELOPMENT AUTHORITY OF YORK CO | CUSIP: 57161CAE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5111000 | PA      | $5111.00      | 0.00%             | 2041-09-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL DEV CHARTER SCH REV                             | PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT  | CUSIP: 71780CAX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $226618.53    | 0.03%             | 2029-06-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| GALVESTON TEX WHARVES & TERM REV                                              | CITY OF GALVESTON TX WHARVES TERMINAL REVENUE      | CUSIP: 364568JP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $240563.45    | 0.04%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH FING AUTH PA TOB MASTER SETTLEMENT PMT REV                       | COMMONWEALTH FINANCING AUTHORITY                   | CUSIP: 20282EAG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2037421.11   | 0.31%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TROY N Y CAP RESOURCE CORP REV                                                | TROY CAPITAL RESOURCE CORP                         | CUSIP: 897579BL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1306475.07   | 0.20%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALACHUA CNTY FLA HEALTH FACS AUTH HEALTH FACS REV                             | SHANDS TEACHING HOSP OBL                           | CUSIP: 010685LD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3047152.40   | 0.47%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TANGIPAHOA PARISH LA HOSP SVC DIST NO 1 HOSP REV                              | TANGIPAHOA PARISH HOSPITAL SERVICE DISTRICT NO 1   | CUSIP: 875518ES7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3470000 | PA      | $3765792.14   | 0.58%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIERRA VIEW LOC HEALTH CARE DIST CALIF REV                                    | SIERRA VIEW LOCAL HEALTH CARE DISTRICT CA          | CUSIP: 82650PDJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $349842.98    | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TR AGY FLA EDL FACS REV                                               | CAPITAL TRUST AGENCY INC                           | CUSIP: 14054CDD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $136705.30    | 0.02%             | 2030-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN HEALTH CARE FACS REV                            | NORTH CAROLINA MEDICAL CARE COMMISSION             | CUSIP: 65821DXL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $611595.29    | 0.09%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY METRO GOVT HEALTH SYS REV                      | LOUISVILLE JEFFERSON CNTY KY MET GOVT HLTH SYS R   | CUSIP: 54659LCE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4322296.14   | 0.67%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERKS CNTY PA MUN AUTH REV                                                    | BERKS COUNTY MUNICIPAL AUTHORITY THE               | CUSIP: 084538JD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    176643 | PA      | $179579.59    | 0.03%             | 2034-06-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| VENICE FLA RETIREMENT CMNTY REV                                               | CITY OF VENICE FL                                  | CUSIP: 922687AF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $742477.28    | 0.11%             | 2030-01-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| LUZERNE CNTY PA INDL DEV AUTH LEASE REV                                       | LUZERNE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY    | CUSIP: 55072RBG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006510.01   | 0.16%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FLA ENVIRONMENTAL IMPT REV                                      | COUNTY OF ESCAMBIA FL                              | CUSIP: 29610QAH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1486659.05   | 0.23%             | 2033-11-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                         | ILLINOIS FINANCE AUTHORITY                         | CUSIP: 45204FM77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3257822.11   | 0.50%             | 2043-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ASHLAND KY MED CTR REV                                                        | ASHLAND KY MED CENTER REVENUE                      | CUSIP: 044293BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1866237.43   | 0.29%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEHIGH CNTY PA GEN PURP HOSP REV                                              | LEHIGH VY HLTH NETWRK OBG                          | CUSIP: 52480GDL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1860658.21   | 0.29%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH COMWLTH MTG                                          | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812XFJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $655118.58    | 0.10%             | 2055-07-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BALDWIN CNTY ALA INDL DEV AUTH SOLID WASTE DISP REV                           | BALDWIN COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY    | CUSIP: 05786PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001512.83   | 0.15%             | 2055-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| POUGHKEEPSIE CITY N Y                                                         | CITY OF POUGHKEEPSIE NY                            | CUSIP: 7386296C3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $231930.01    | 0.04%             | 2026-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA AUTH UNIV REV                                                | DELAWARE CNTY PA AUTH                              | CUSIP: 246008PN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1231045.07   | 0.19%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                              | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584YB65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $1067070.60   | 0.16%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH REV                                     | CONNECTICUT ST HLTH EDUCTNL FACS AUTH REVENUE      | CUSIP: 20775DFF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3092888.03   | 0.48%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS EDL FAC REV                                               | PUBLIC FINANCE AUTHORITY                           | CUSIP: 74443DGW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1510000 | PA      | $1506339.28   | 0.23%             | 2026-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV                                   | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182TDD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $203087.74    | 0.03%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST HOSP EQUIP LN COUNCIL HOSP REV                                  | NEW MEXICO HOSPITAL EQUIPMENT LOAN COUNCIL         | CUSIP: 647370KE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $891029.83    | 0.14%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REV                                                              | STATE OF OHIO                                      | CUSIP: 67756CER5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $760601.53    | 0.12%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH POLLUTN CTL REV                                        | BURKE COUNTY DEVELOPMENT AUTHORITY                 | CUSIP: 121342MW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.15%             | 2049-07-01      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| BERKS CNTY PA MUN AUTH REV                                                    | BERKS COUNTY MUNICIPAL AUTHORITY THE               | CUSIP: 084538JH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1064899.92   | 0.16%             | 2039-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH POLLUTN CTL REV                                        | BURKE COUNTY DEVELOPMENT AUTHORITY                 | CUSIP: 121342PQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2200000.00   | 0.34%             | 2052-11-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS N D HEALTH CARE SYS REV                                           | CITY OF GRAND FORKS ND                             | CUSIP: 38546WDD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1374019.33   | 0.21%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA BD BK REV                                                             | INDIANA BOND BANK                                  | CUSIP: 45462TJS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $626772.27    | 0.10%             | 2029-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL PK DIST                                                           | CHICAGO PARK DISTRICT                              | CUSIP: 167615F99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1877831.23   | 0.29%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                               | MICHIGAN FINANCE AUTHORITY                         | CUSIP: 594479HM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95370.60     | 0.01%             | 2027-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST FACS AUTH REV                                                       | OREGON ST FACS AUTH REVENUE                        | CUSIP: 68608JYF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $317606.99    | 0.05%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL DEV CHARTER SCH REV                             | PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT  | CUSIP: 71780CAY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $148970.99    | 0.02%             | 2030-06-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP TEX RETIREMENT FAC REV                     | NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR | CUSIP: 64542UHK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003010.86   | 0.15%             | 2030-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL PK DIST                                                           | CHICAGO PARK DISTRICT                              | CUSIP: 167615F57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054362.95   | 0.16%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH REV                                              | OHIO AIR QUALITY DEVELOPMENT AUTHORITY             | CUSIP: 677525WZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995607.38    | 0.15%             | 2029-01-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS REV                                                       | PUBLIC FINANCE AUTHORITY                           | CUSIP: 74442PZT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510078.24    | 0.08%             | 2030-04-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| MARYLAND ST ECONOMIC DEV CORP ECONOMIC DEV REV                                | MARYLAND ECONOMIC DEVELOPMENT CORP                 | CUSIP: 57420NBU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1389577.81   | 0.21%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV                         | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT  | CUSIP: 84136HBT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9950000 | PA      | $10473781.66  | 1.62%             | 2055-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV                                   | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182TEQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4075000 | PA      | $4155010.18   | 0.64%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV                       | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY    | CUSIP: 13013JFS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2609529.30   | 0.40%             | 2055-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                       | WISCONSIN HEALTH EDUCATIONAL FACILITIES AUTHORIT   | CUSIP: 97712JCA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $141945.36    | 0.02%             | 2027-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF PUB PWR AUTH REV                                               | SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY         | CUSIP: 84247PMY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $238870.69    | 0.04%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIERRA VIEW LOC HEALTH CARE DIST CALIF REV                                    | SIERRA VIEW CA LOCAL HLTH CARE DIST                | CUSIP: 82650PDL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $338970.69    | 0.05%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV                          | PORT OF PORT ARTHUR NAVIGATION DISTRICT            | CUSIP: 735220AV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5255000 | PA      | $5255000.00   | 0.81%             | 2040-04-01      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| ALACHUA CNTY FLA HEALTH FACS AUTH CONTINUING CARE RETIREMENT CMNTY REV        | ALACHUA COUNTY HEALTH FACILITIES AUTHORITY         | CUSIP: 010684BN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $738644.61    | 0.11%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TEX WHARVES & TERM REV                                              | CITY OF GALVESTON TX WHARVES TERMINAL REVENUE      | CUSIP: 364568JS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $701531.28    | 0.11%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OWEN CNTY KY WTR FACS REV                                                     | COUNTY OF OWEN KY                                  | CUSIP: 69068WAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4778159.33   | 0.74%             | 2039-09-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| ROCKPORT IND POLLUTION CTL REV                                                | CITY OF ROCKPORT IN                                | CUSIP: 773835BY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2013078.31   | 0.31%             | 2047-06-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HIGHER ED SUPPLEMENTAL LN AUTH REV                             | CONNECTICUT STATE HIGHER EDUCATION SUPPLEMENT LOAN | CUSIP: 207743YR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2725000 | PA      | $2754564.98   | 0.43%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BK SPEARS/LIFERS TR VAR STS                                          | DEUTSCHE BANK SPEARS LIFERS TRUST                  | CUSIP: 25156SJZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.77%             | 2030-05-01      | Floating      | 4.15%                 | Yes           |                  2 | On Loan: No      |
| LOS RANCHOS DE ALBUQUERQUE NEW MEXICO EDL FACS REV                            | VILLAGE OF LOS RANCHOS DE ALBUQUERQUE NM           | CUSIP: 545610AY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $899814.50    | 0.14%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN INDL DEV BRD EXEMPT FACS REV | METROPOLITAN GOVERNMENT NASHVILLE DAVIDSON COUNT   | CUSIP: 592107AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1998692.02   | 0.31%             | 2031-08-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CHESTERTOWN MD ECONOMIC DEV PROJ REV                                          | TOWN OF CHESTERTOWN MD                             | CUSIP: 166630AL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1654314.11   | 0.26%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REV                                                              | STATE OF OHIO                                      | CUSIP: 67756CEN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $440440.56    | 0.07%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH HEALTH CARE REV                                | KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY    | CUSIP: 49126TBE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5001707.46   | 0.77%             | 2027-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DALLAS TEX HSG FIN CORP MULTIFAMILY HSG REV                                   | CITY OF DALLAS HOUSING FINANCE CORP                | CUSIP: 235298BS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2766558.08   | 0.43%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV                         | CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY   | CUSIP: 130536RC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999914.47    | 0.15%             | 2042-11-01      | Variable      | 3.85%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO ILL PK DIST                                                           | CHICAGO PARK DISTRICT                              | CUSIP: 167615F73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1426153.17   | 0.22%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH HEALTH FAC REV                                               | INDIANA FINANCE AUTHORITY                          | CUSIP: 45471CBN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $905613.04    | 0.14%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV                                   | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182TDU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2140811.00   | 0.33%             | 2055-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD EXEMPT FACS REV                                      | MICHIGAN STRATEGIC FUND                            | CUSIP: 59468PAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5052649.31   | 0.78%             | 2027-08-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH HEALTH FAC REV                                               | INDIANA FINANCE AUTHORITY                          | CUSIP: 45471CBM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $851321.06    | 0.13%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STAMFORD CONN HSG AUTH REV                                                    | STAMFORD HOUSING AUTHORITY                         | CUSIP: 852640AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1525354.96   | 0.24%             | 2032-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ENERGY SOUTHEAST ALA COOP DIST ENERGY SUPPLY REV                              | ENERGY SOUTHEAST A COOPERATIVE DISTRICT            | CUSIP: 292723BB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $205383.13    | 0.03%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FARMINGTON N MEX POLLUTN CTL REV                                              | CITY OF FARMINGTON NM                              | CUSIP: 311450GE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021953.20   | 0.16%             | 2040-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FARMINGTON N MEX POLLUTN CTL REV                                              | CITY OF FARMINGTON NM                              | CUSIP: 311450FV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4228065.49   | 0.65%             | 2033-04-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| MISSION TEX ECONOMIC DEV CORP SOLID WASTE DISP REV                            | MISSION ECONOMIC DEVELOPMENT CORP                  | CUSIP: 605155BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $814642.64    | 0.13%             | 2064-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VENICE FLA RETIREMENT CMNTY REV                                               | CITY OF VENICE FL                                  | CUSIP: 922687AG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $566458.35    | 0.09%             | 2030-01-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| JAMES CITY CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | JAMES CITY COUNTY ECONOMIC DEVELOPMENT AUTHORITY   | CUSIP: 47029WEK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $530793.79    | 0.08%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV                                | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE    | CUSIP: 74440DCM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3370000 | PA      | $3421281.48   | 0.53%             | 2050-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH CHARTER SCH REV                                       | CALIFORNIA SCHOOL FINANCE AUTHORITY                | CUSIP: 13058TVG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007766.04   | 0.16%             | 2026-12-01      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV                                 | MARYLAND HEALTH HIGHER EDUCATIONAL FACILITIES      | CUSIP: 5742187Y3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1087317.73   | 0.17%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV                                | KENTUCKY PUBLIC ENERGY AUTHORITY                   | CUSIP: 74440DEN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $276938.78    | 0.04%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH HEALTH FACS REV                            | HEALTH EDUCATIONAL FACILITIES AUTHORITY OF THE S   | CUSIP: 60637ATX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $204784.92    | 0.03%             | 2026-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS REV                             | NORTH CAROLINA MEDICAL CARE COMMISSION             | CUSIP: 65820YTR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $617735.72    | 0.10%             | 2029-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MARTIN CNTY TEX HOSP DIST                                                     | MARTIN COUNTY HOSPITAL DISTRICT                    | CUSIP: 57325VAN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $422448.88    | 0.07%             | 2029-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISE CNTY TEX LEASE REV                                                       | COUNTY OF WISE TX                                  | CUSIP: 977195BB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $742224.11    | 0.11%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV                         | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT  | CUSIP: 84136HAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $2036524.07   | 0.31%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HIGHER ED ASSISTANCE AGY ED LN REV                               | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY    | CUSIP: 70878CBM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530297.78    | 0.08%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLAIRTON PA MUN AUTH SWR REV                                                  | CLAIRTON MUNICIPAL AUTHORITY                       | CUSIP: 179630DB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $652418.06    | 0.10%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH SOLID WASTE DISP REV                           | KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY    | CUSIP: 49126RAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1670000.00   | 0.26%             | 2031-04-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OHIO HOSP FACS REV                                                 | ALLEN CNTY OH HOSP FACS REVENUE                    | CUSIP: 01757LGV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2187686.92   | 0.34%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TEX WHARVES & TERM REV                                              | CITY OF GALVESTON TX WHARVES TERMINAL REVENUE      | CUSIP: 364568JM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254031.37    | 0.04%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMN NONPROFIT HSG REV                                 | WASHINGTON STATE HOUSING FINANCE COMMISSION        | CUSIP: 939783P59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $294860.41    | 0.05%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARROLL CNTY KY POLLUTION CTL REV                                             | KENTUCKY UTILITIES CO                              | CUSIP: 144838AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4890317.15   | 0.75%             | 2042-09-01      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| SIERRA VISTA ARIZ INDL DEV AUTH ED FAC REV                                    | SIERRA VISTA INDUSTRIAL DEVELOPMENT AUTHORITY      | CUSIP: 82652UAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1301030.06   | 0.20%             | 2034-06-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PRINCE WILLIAM CNTY VA INDL DEV AUTH RESIDENTIAL CARE FAC REV                 | PRINCE WILLIAM COUNTY INDUSTRIAL DEVELOPMENT AUTHO | CUSIP: 741756CA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1684879.74   | 0.26%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                 | COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FPK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2076305.76   | 0.32%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP V GAS SUPPLY REV                      | TEXAS MUNICIPAL GAS ACQUISITION SUPPLY CORP V      | CUSIP: 88256RAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $452813.50    | 0.07%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH STUD LN                               | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUT | CUSIP: 646080YZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5068308.26   | 0.78%             | 2056-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP REV                             | TEXAS PRIVATE ACTIVITY BOND SURFACE TRANSPORTATION | CUSIP: 882667BB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2355000 | PA      | $2411298.50   | 0.37%             | 2031-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH POLLUTN CTL REV                                        | DEVELOPMENT AUTHORITY OF BURKE COUNTY THE          | CUSIP: 121342QJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005095.37   | 0.16%             | 2032-10-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| MUSKOGEE OKLA INDL TR EDL FACS LEASE REV                                      | MUSKOGEE OK INDL TRUST EDUCTNL FACS LEASE REVENUE  | CUSIP: 62813NAY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5148443.99   | 0.79%             | 2028-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH HEALTH FACS REV                            | HEALTH EDUCATIONAL FACILITIES AUTHORITY OF THE S   | CUSIP: 60637AUB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $292537.63    | 0.05%             | 2030-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISE CNTY TEX LEASE REV                                                       | COUNTY OF WISE TX                                  | CUSIP: 977195BD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $996108.89    | 0.15%             | 2033-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP EDL FACS REV                                             | FLORIDA DEVELOPMENT FINANCE CORP                   | CUSIP: 34061UFS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $420383.69    | 0.06%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHLANDS MET DIST NO 1 COLO                                                 | SOUTHLANDS METROPOLITAN DISTRICT NO 1              | CUSIP: 84454RAV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $600312.52    | 0.09%             | 2027-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST HOSP EQUIP LN COUNCIL HOSP REV                                  | NEW MEXICO HOSPITAL EQUIPMENT LOAN COUNCIL         | CUSIP: 647370KC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $795904.73    | 0.12%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV                          | NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY    | CUSIP: 64972GZW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.09%             | 2033-06-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| WINROCK TOWN CTR TAX INCREMENTDEV DIST 1 N MEX GROSS RCPTS TAX INCREM         | WINROCK TOWN CENTER TAX INCREMENT DEVELOPMENT DIST | CUSIP: 97535RAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    702000 | PA      | $696218.27    | 0.11%             | 2028-05-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS REV                             | NORTH CAROLINA ST MED CARE                         | CUSIP: 65820YSE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1574908.68   | 0.24%             | 2026-09-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| City of New York                                                              | NEW YORK NY                                        | CUSIP: 64966MU98<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4600000.00   | 0.71%             | 2046-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| WISE CNTY TEX LEASE REV                                                       | COUNTY OF WISE TX                                  | CUSIP: 977195BC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $486129.98    | 0.08%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H SPL REV                                                 | NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY           | CUSIP: 63608TAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994540.02    | 0.15%             | 2028-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP III GAS SUPPLY REV                    | TEXAS MUNICIPAL GAS ACQUISITION SUPPLY CORP III    | CUSIP: 88256HBC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2082402.95   | 0.32%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH REV                                       | WASHINGTON HEALTH CARE FACILITIES AUTHORITY        | CUSIP: 93978HVB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005324.94   | 0.16%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV                         | CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY   | CUSIP: 130536RN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2473321.34   | 0.38%             | 2043-07-01      | Variable      | 3.80%                 | Yes           |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV                                   | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182TEC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3585000 | PA      | $3836676.45   | 0.59%             | 2055-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL SPL ASSMT                                                         | CITY OF CHICAGO IL SPECIAL ASSESSMENT REVENUE      | CUSIP: 167686AJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $247252.45    | 0.04%             | 2027-12-01      | Fixed         | 2.87%                 | Yes           |                  2 | On Loan: No      |
| LATROBE PA INDL DEV AUTH UNIV REV                                             | LATROBE INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 518324AF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $182702.57    | 0.03%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP STUDENT HSG REV                            | NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR | CUSIP: 64542RDE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250581 | PA      | $1244328.10   | 0.19%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP STUDENT HSG REV                            | NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR | CUSIP: 64542RDF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2135000 | PA      | $2124325.00   | 0.33%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP EDL FACS REV                                             | FLORIDA DEVELOPMENT FINANCE CORP                   | CUSIP: 34061UFU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $485620.57    | 0.07%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERKS CNTY PA MUN AUTH REV                                                    | BERKS COUNTY MUNICIPAL AUTHORITY THE               | CUSIP: 084538JF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     88521 | PA      | $94970.87     | 0.01%             | 2034-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV                          | PORT OF PORT ARTHUR NAVIGATION DISTRICT            | CUSIP: 735220AT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11800000 | PA      | $11800000.00  | 1.82%             | 2040-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV                                   | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182TED5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017831.12   | 0.16%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV                          | PORT OF PORT ARTHUR NAVIGATION DISTRICT            | CUSIP: 735220AU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  22975000 | PA      | $22975000.00  | 3.55%             | 2040-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MARQUIS CMNTY DEV AUTH VA REV                                                 | MARQUIS COMMUNITY DEVELOPMENT AUTHORITY OF YORK CO | CUSIP: 57161CAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3506000 | PA      | $1309490.95   | 0.20%             | 2036-09-01      | Fixed         | 5.10%                 | No            |                  3 | On Loan: No      |
| OREGON ST FACS AUTH REV                                                       | OREGON ST FACS AUTH REVENUE                        | CUSIP: 68608JYE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $157002.79    | 0.02%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA BD BK REV                                                             | INDIANA BOND BANK                                  | CUSIP: 45462TJR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $517789.02    | 0.08%             | 2029-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV                         | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT  | CUSIP: 84136HAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2060000 | PA      | $2095674.06   | 0.32%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                              | MASSACHUSETTS ST DEV FIN AGY REVENUE               | CUSIP: 57585BKC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079841.84   | 0.17%             | 2055-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CORTLAND N Y                                                                  | CITY OF CORTLAND NY                                | CUSIP: 220633VK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7566761.97   | 1.17%             | 2026-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REV                                                              | OHIO ST HOSP REVENUE                               | CUSIP: 67756CDU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090992.13   | 0.17%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HEALTH & EDL FACS AUTH REV                                    | SOUTH DAKOTA HEALTH EDUCATIONAL FACILITIES AUTHO   | CUSIP: 83755VDR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $330000.00    | 0.05%             | 2025-11-01      | Variable      | 3.63%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                       | WISCONSIN HEALTH EDUCATIONAL FACILITIES AUTHORIT   | CUSIP: 97712JBZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110790.14    | 0.02%             | 2026-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA LOC GOVT FIN COMMN SR LIVING REV                                      | FLORIDA LOCAL GOVERNMENT FINANCE COMMISSION        | CUSIP: 34077UAM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502857.25   | 0.23%             | 2030-11-15      | Fixed         | 4.20%                 | Yes           |                  2 | On Loan: No      |
| LATROBE PA INDL DEV AUTH UNIV REV                                             | LATROBE INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 518324AE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $139398.65    | 0.02%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                              | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584YPF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2489426.61   | 0.38%             | 2049-07-01      | Floating      | 3.33%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO ILL SPL ASSMT                                                         | CITY OF CHICAGO IL SPECIAL ASSESSMENT REVENUE      | CUSIP: 167686AG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    328000 | PA      | $326457.57    | 0.05%             | 2025-12-01      | Fixed         | 2.53%                 | Yes           |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV                         | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT  | CUSIP: 84136HAS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2070000 | PA      | $2181355.20   | 0.34%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS REV                             | NORTH CAROLINA MEDICAL CARE COMMISSION             | CUSIP: 65820YSZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250151.25    | 0.04%             | 2028-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST ENVIRONMENTAL IMPT & ENERGY RES AUTH ENV IMPT REV                 | MISSOURI STATE ENVIRONMENTAL IMPROVEMENT ENERGY    | CUSIP: 606907BK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2753956.33   | 0.42%             | 2038-05-01      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| JAMES CITY CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | JAMES CITY COUNTY ECONOMIC DEVELOPMENT AUTHORITY   | CUSIP: 47029WEA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $214222.77    | 0.03%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL PK DIST                                                           | CHICAGO PARK DISTRICT                              | CUSIP: 167615F81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2115000 | PA      | $2288237.92   | 0.35%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECONOMIC DEV CORP ECONOMIC DEV REV                                | MARYLAND ECONOMIC DEVELOPMENT CORP                 | CUSIP: 57420NBT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2032283.63   | 0.31%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REV                                                              | STATE OF OHIO                                      | CUSIP: 67756CES3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $494300.55    | 0.08%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH SOLID WASTE DISP REV                                  | CALIFORNIA MUNICIPAL FINANCE AUTHORITY             | CUSIP: 13048RAJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2499511.72   | 0.39%             | 2041-07-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| GALVESTON TEX WHARVES & TERM REV                                              | CITY OF GALVESTON TX WHARVES TERMINAL REVENUE      | CUSIP: 364568JR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $366102.85    | 0.06%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEV FIN AUTH HEALTH CARE REV                                         | ARKANSAS DEVELOPMENT FINANCE AUTHORITY             | CUSIP: 04084RBP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1289097.02   | 0.20%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH REV                                                  | TEMPE INDUSTRIAL DEVELOPMENT AUTHORITY             | CUSIP: 87972MBK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $239117.45    | 0.04%             | 2026-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LONG IS PWR AUTH N Y ELEC SYS REV                                             | LONG ISLAND NY PWR AUTH ELEC SYS REVENUE           | CUSIP: 542691GE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10500000 | PA      | $10500000.00  | 1.62%             | 2028-09-01      | Floating      | 3.18%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH HEALTH FACS REV                            | HEALTH EDUCATIONAL FACILITIES AUTHORITY OF THE S   | CUSIP: 60637ATZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $413950.60    | 0.06%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST HAVEN CONN                                                               | CITY OF WEST HAVEN CT                              | CUSIP: 953140Q78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $677928.05    | 0.10%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL PK DIST                                                           | CHICAGO PARK DISTRICT                              | CUSIP: 167615F65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075585.63   | 0.17%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEV FIN AUTH HEALTH CARE REV                                         | ARKANSAS DEVELOPMENT FINANCE AUTHORITY             | CUSIP: 04084RCA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4115006.71   | 0.63%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H SR LIVING REV                                           | NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY           | CUSIP: 63608SAK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $292067.26    | 0.05%             | 2031-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEV CORP LIBERTY REV                                         | NEW YORK LIBERTY DEVELOPMENT CORP                  | CUSIP: 649519DN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1746507.26   | 0.27%             | 2031-11-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACS FING AUTH REV                                          | CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY   | CUSIP: 13032UJ82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1506013.30   | 0.23%             | 2027-11-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                               | MICHIGAN FINANCE AUTHORITY                         | CUSIP: 594479HN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $288392.86    | 0.04%             | 2032-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERMONT EDL & HEALTH BLDGS FING AGY REV                                       | VERMONT EDUCATIONAL HEALTH BUILDINGS FINANCING A   | CUSIP: 924166JK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002154.69   | 0.15%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN ILL UNIV REVS                                                        | NORTHERN ILLINOIS UNIVERSITY                       | CUSIP: 665245ZA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $487007.51    | 0.08%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY SOUTHEAST ALA COOP DIST ENERGY SUPPLY REV                              | ENERGY SOUTHEAST A COOPERATIVE DISTRICT            | CUSIP: 292723BC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $258438.95    | 0.04%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARTIN CNTY TEX HOSP DIST                                                     | MARTIN COUNTY HOSPITAL DISTRICT                    | CUSIP: 57325VAL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $306032.04    | 0.05%             | 2027-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV                       | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY    | CUSIP: 13013JEB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5305566.79   | 0.82%             | 2055-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                              | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57585BLG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.15%             | 2025-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL TR AUTH FLA EDL FACS LEASE REV                                        | CAPITAL TRUST AUTHORITY                            | CUSIP: 14054UAE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2974773.56   | 0.46%             | 2034-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS SPORTS FACS AUTH                                                     | ILLINOIS SPORTS FACILITIES AUTHORITY THE           | CUSIP: 452143FV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $518403.04    | 0.08%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA LOC GOVT FIN COMMN SR LIVING REV                                      | FLORIDA LOCAL GOVERNMENT FINANCE COMMISSION        | CUSIP: 34077UAL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503003.16   | 0.23%             | 2031-11-15      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| SUMMIT ACADEMY NORTH MICH PUB SCH ACADEMY REV                                 | SUMMIT ACADEMY NORTH                               | CUSIP: 86589TAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1531517.13   | 0.24%             | 2031-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CANBY MINN CMNTY HOSP DIST NO 1 REV                                           | SANFORD CANBY COMMUNITY HOSPITAL DISTRICT NO 1     | CUSIP: 137352AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $475000.00    | 0.07%             | 2026-11-01      | Variable      | 3.63%                 | No            |                  2 | On Loan: No      |
| LATROBE PA INDL DEV AUTH UNIV REV                                             | LATROBE INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 518324AG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $157972.79    | 0.02%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERKS CNTY PA MUN AUTH REV                                                    | BERKS COUNTY MUNICIPAL AUTHORITY THE               | CUSIP: 084538JK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $416073.65    | 0.06%             | 2044-06-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COMMODITY SUPPLY REV ALA                                | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT  | CUSIP: 84136FBQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1778212.05   | 0.27%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS SPORTS FACS AUTH                                                     | ILLINOIS SPORTS FACILITIES AUTHORITY THE           | CUSIP: 452143FT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1626330.30   | 0.25%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y REV                                              | MET TRANSPRTN AUTH NY                              | CUSIP: 59261AG68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1948274.67   | 0.30%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BK SPEARS/LIFERS TR VAR STS                                          | DEUTSCHE BANK SPEARS LIFERS TRUST                  | CUSIP: 25156SGS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.09%             | 2062-08-01      | Floating      | 4.15%                 | Yes           |                  2 | On Loan: No      |
| AKRON BATH COPLEY OHIO JT TWP HOSP DIST REV                                   | AKRON BATH COPLEY JOINT TOWNSHIP HOSPITAL DISTRICT | CUSIP: 009730PL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $300794.91    | 0.05%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL WTR REV                                                           | CITY OF CHICAGO IL WATERWORKS REVENUE              | CUSIP: 167736F69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027260.28   | 0.16%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LATROBE PA INDL DEV AUTH UNIV REV                                             | LATROBE INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 518324AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $185083.02    | 0.03%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST HOSP EQUIP LN COUNCIL HOSP REV                                  | NEW MEXICO HOSPITAL EQUIPMENT LOAN COUNCIL         | CUSIP: 647370KF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $566731.80    | 0.09%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                              | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584YE54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $710611.77    | 0.11%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLAIRTON PA MUN AUTH SWR REV                                                  | CLAIRTON MUNICIPAL AUTHORITY                       | CUSIP: 179630CW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $873458.56    | 0.13%             | 2029-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISE CNTY TEX LEASE REV                                                       | COUNTY OF WISE TX                                  | CUSIP: 977195AZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $945449.33    | 0.15%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FLA INDL DEV AUTH HEALTH CARE FACS REV                               | LEE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY FL     | CUSIP: 52349EER7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007738.11   | 0.16%             | 2029-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GEO L SMITH II GA WORLD CONGRESS CTR AUTH CONVENTION CTR HOTEL REV            | GEORGE L SMITH II CONGRESS CENTER AUTHORITY        | CUSIP: 37255MAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $939760.28    | 0.15%             | 2031-01-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH HEALTH SVCS FAC LEASE REV                                   | ILLINOIS FINANCE AUTHORITY                         | CUSIP: 452031AG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $536048.28    | 0.08%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEHIGH CNTY PA GEN PURP HOSP REV                                              | LEHIGH VY HLTH NETWRK OBG                          | CUSIP: 52480GDM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2164639.74   | 0.33%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY OHIO JT TWP HOSP DIST REV                                   | AKRON BATH COPLEY JOINT TOWNSHIP HOSPITAL DISTRICT | CUSIP: 009730PN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $330251.31    | 0.05%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV                                   | BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182TEV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2047911.38   | 0.32%             | 2056-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVS NON ST SUPPORTED DEBT                              | NEW YORK STATE DORMITORY AUTHORITY                 | CUSIP: 64990CPQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1201448.46   | 0.19%             | 2025-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                       | WISCONSIN HEALTH EDUCATIONAL FACILITIES AUTHORIT   | CUSIP: 97712JCC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $307887.37    | 0.05%             | 2029-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OWEN CNTY KY WTR FACS REV                                                     | COUNTY OF OWEN KY                                  | CUSIP: 69068WAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9616876.98   | 1.48%             | 2039-06-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OHIO HOSP FACS REV                                              | HAMILTON CNTY OH HOSP FACS REVENUE                 | CUSIP: 407272W66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1419813.98   | 0.22%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y REV                                              | METROPOLITAN TRANSPORTATION AUTHORITY              | CUSIP: 59261AM87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9969235.23   | 1.54%             | 2042-11-15      | Floating      | 3.57%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP EDL FACS REV                                             | FLORIDA DEVELOPMENT FINANCE CORP                   | CUSIP: 34061UFR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $401274.06    | 0.06%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL PK DIST                                                           | CHICAGO PARK DISTRICT                              | CUSIP: 167615ZW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $775585.04    | 0.12%             | 2031-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV                                | KENTUCKY PUBLIC ENERGY AUTHORITY                   | CUSIP: 74440DFC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065732.42   | 0.16%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** Victory Portfolios III

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer