# EDGAR Filing Document

**Accession Number:** 0001524513
**File Stem:** 0001752724-25-157727
**Filing Date:** 2025-6
**Character Count:** 155916
**Document Hash:** 2debda6b4b80ad1a3d8e2b8a1591ad0f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-157727.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-157727

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iShares U.S. ETF Trust
- **CENTRAL INDEX KEY:** 0001524513

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22649
- **FILM NUMBER:** 251076742

**BUSINESS ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** (415) 670-2000

**MAIL ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

## Series and Classes Contracts Data

### iShares Short Maturity Municipal Bond Active ETF (Series ID: S000047352)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000148680 | iShares Short Maturity Municipal Bond Active ETF | MEAR            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** iShares U.S. ETF Trust

- **b. Investment Company Act file number:** 811-22649

- **c. CIK number of Registrant:** 0001524513

- **d. LEI of Registrant:** 5493002YECWEEITPWL97

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

  - **Street Address 1:** 400 Howard Street

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

  - **Telephone number:** 800-474-2737

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

- **a. Name of Series:** iShares Short Maturity Municipal Bond Active ETF

- **b. EDGAR series identifier (if any):** S000047352

- **c. LEI of Series:** 5493004L4O18LD4M5S07

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1033321197.65

**Total Liabilities:** $24750697.29

**Net Assets:** $1008570500.36

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 4103.56000000 | **1-Year:** 30819.95000000 | **5-Year:** 89474.38000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 1046.82000000 | **1-Year:** 30.44000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000148680 | 0.45%                | 0.09%                | -0.02%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-0.01                   | $1423645.28                                |
| Month 2  | $967.50                  | $-1395172.10                               |
| Month 3  | $0.04                    | $-2763573.29                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Massachusetts Water Resources Authority                                                           | Massachusetts Water Resources Authority                                                                               | CUSIP: 57604YBF1<br>LEI: 549300GBS2G3YGHOYO19 | Long             | STIV             | MUN               | US        |   4000000 | PA      | $3999478.40   | 0.40%             | 2025-05-07      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Borough of Haledon                                                                                | Borough of Haledon, Series 2024A                                                                                      | CUSIP: 405540EZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3338130 | PA      | $3340553.27   | 0.33%             | 2025-09-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured                                   | New York City Transitional Finance Authority Future Tax Secured, Series 2019A-4                                       | CUSIP: 64971XFY9<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   8200000 | PA      | $8200000.00   | 0.81%             | 2045-08-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Jersey City Municipal Utilities Authority                                                         | Jersey City Municipal Utilities Authority, Series 2024B                                                               | CUSIP: 476623DA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3550000 | PA      | $3550096.96   | 0.35%             | 2025-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                                               | State of Washington, Series R-2024C                                                                                   | CUSIP: 93974EY83<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8034552.61   | 0.80%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                                              | District of Columbia, Series A                                                                                        | CUSIP: 254839RX3<br>LEI: 549300HWFOZXPKGOX654 | Long             | STIV             | MUN               | US        |   8125000 | PA      | $8125000.00   | 0.81%             | 2038-08-15      | Variable      | 2.45%                 | No            |                  2 | On Loan: No      |
| West Virginia Economic Development Authority                                                      | West Virginia Economic Development Authority, Series 2015A                                                            | CUSIP: 95648VBS7<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990194.24    | 0.10%             | 2040-03-01      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp. V                                                  | Texas Municipal Gas Acquisition & Supply Corp. V, Series 2024                                                         | CUSIP: 88256RAC0<br>LEI: 254900XZ4J30QIJO9G03 | Long             | DBT              | MUN               | US        |    750000 | PA      | $760303.57    | 0.08%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State Public School Building Authority                                                            | State Public School Building Authority, Series 2025                                                                   | CUSIP: 85732NDP7<br>LEI: 5493006JN0UR7OGWTO86 | Long             | DBT              | MUN               | US        |   1870000 | PA      | $1962131.08   | 0.19%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                                              | State of Connecticut, Series 2023B                                                                                    | CUSIP: 20772KUP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4575000 | PA      | $4593293.79   | 0.46%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                                                | Board of Regents of the University of Texas System                                                                    | CUSIP: 91514YCE1<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | STIV             | MUN               | US        |   3200000 | PA      | $3198887.68   | 0.32%             | 2025-05-22      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2023B                                                                           | CUSIP: 56035DFC1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2264045.04   | 0.22%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Tomball Independent School District                                                               | Tomball Independent School District, Series 2024                                                                      | CUSIP: 889855W81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4313368.36   | 0.43%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Housing Finance Corp.                                                              | Tarrant County Housing Finance Corp., Series 2025                                                                     | CUSIP: 876394UP0<br>LEI: 54930055IA4O4ZTEN156 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2977969.67   | 0.30%             | 2043-02-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                                                | Allegheny County Airport Authority, Series 2025A                                                                      | CUSIP: 01728LKF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5215000 | PA      | $5419255.23   | 0.54%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                                           | Energy Southeast A Cooperative District, Series 2023B-1                                                               | CUSIP: 292723AM5<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |    800000 | PA      | $817859.19    | 0.08%             | 2026-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                 | City of Quincy, Series 2024                                                                                           | CUSIP: 748508V47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1345266.62   | 0.13%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2023A                                                                           | CUSIP: 56035DEG3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    750000 | PA      | $750697.52    | 0.07%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                                         | Maryland Health & Higher Educational Facilities Authority, Series 1985A                                               | CUSIP: 574215RC5<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   2400000 | PA      | $2400000.00   | 0.24%             | 2035-04-01      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                                                | City of Chicago, Series 2025B                                                                                         | CUSIP: 167570TX8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $7907510.38   | 0.78%             | 2029-06-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                                            | Iowa Finance Authority, Series 2021                                                                                   | CUSIP: 46246XAD6<br>LEI: 549300NQVL49BTHOW391 | Long             | STIV             | MUN               | US        |  29600000 | PA      | $29600000.00  | 2.93%             | 2041-12-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2025A                                                       | CUSIP: 84136HAV5<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    170000 | PA      | $176255.08    | 0.02%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Spokane WA Airport Revenue                                                              | County of Spokane, Series 2024B                                                                                       | CUSIP: 848661JA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1629375.73   | 0.16%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                                    | Black Belt Energy Gas District, Series 2024D                                                                          | CUSIP: 09182TEG8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3637700.35   | 0.36%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Inlivian                                                                                          | Inlivian, Series 2025                                                                                                 | CUSIP: 45753CAT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4018712.16   | 0.40%             | 2058-11-01      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2024B                                                                           | CUSIP: 56035DGV8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    245000 | PA      | $245969.33    | 0.02%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle                                                                                   | Port of Seattle, Series 2024B                                                                                         | CUSIP: 735389Z92<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   6250000 | PA      | $6478096.49   | 0.64%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2023D                                                                           | CUSIP: 56035DFM9<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    550000 | PA      | $554219.58    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                               | Wisconsin Health & Educational Facilities Authority, Series 2018C-2                                                   | CUSIP: 97712JEG4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1988820.80   | 0.20%             | 2054-08-15      | Floating      | 3.80%                 | No            |                  2 | On Loan: No      |
| New Mexico Municipal Energy Acquisition Authority                                                 | New Mexico Municipal Energy Acquisition Authority, Series 2025                                                        | CUSIP: 647207BE8<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |    435000 | PA      | $445427.13    | 0.04%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                                           | New York City Housing Development Corp., Series 2024F-2                                                               | CUSIP: 64972KGU3<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9913401.79   | 0.98%             | 2064-11-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                         | Indiana Finance Authority, Series 2024                                                                                | CUSIP: 45471CCV8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    275000 | PA      | $281731.76    | 0.03%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Akron Bath Copley Joint Township Hospital District                                                | Akron Bath Copley Joint Township Hospital District, Series 2017C                                                      | CUSIP: 009730PE6<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   5030000 | PA      | $5030000.00   | 0.50%             | 2047-11-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                                                     | Kentucky State Property & Building Commission, Series A                                                               | CUSIP: 49151FW71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $378099.83    | 0.04%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2024B                                                                           | CUSIP: 56035DGW6<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    350000 | PA      | $353773.14    | 0.04%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Phoenix Civic Improvement Corp.                                                           | City of Phoenix Civic Improvement Corp., Series 2017A                                                                 | CUSIP: 71883MKV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1735152.64   | 0.17%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp.                                                                                    | Tennergy Corp., Series 2021A                                                                                          | CUSIP: 880397BW3<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |   3435000 | PA      | $3421634.71   | 0.34%             | 2051-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                                   | New York City Municipal Water Finance Authority, Series 2010CC                                                        | CUSIP: 64972FK62<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | STIV             | MUN               | US        |   5700000 | PA      | $5700000.00   | 0.57%             | 2041-06-15      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                        | Illinois Finance Authority, Series 2024                                                                               | CUSIP: 45204FVS1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    325000 | PA      | $325806.30    | 0.03%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2024E                                                                           | CUSIP: 56035DJD5<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2289856.02   | 0.23%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                             | Pennsylvania Economic Development Financing Authority, Series 2025A                                                   | CUSIP: 70870JGZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12000000 | PA      | $12644632.87  | 1.25%             | 2060-03-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado School of Mines                                                                          | Colorado School of Mines, Series 2022D                                                                                | CUSIP: 19658QGG6<br>LEI: 549300TQMFMDZTM5HY46 | Long             | DBT              | MUN               | US        |   4715000 | PA      | $4731114.28   | 0.47%             | 2025-12-01      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                        | Illinois Finance Authority, Series 2024                                                                               | CUSIP: 45204FVU6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    425000 | PA      | $435085.25    | 0.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lower Colorado River Authority                                                                    | Lower Colorado River Authority, Series 2021                                                                           | CUSIP: 54811BWG2<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1334858.83   | 0.13%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                                                  | City of New York, Series 2015F-6                                                                                      | CUSIP: 64966LU25<br>LEI: 549300ABYZD2SFD5JB29 | Long             | STIV             | MUN               | US        |   5700000 | PA      | $5700000.00   | 0.57%             | 2044-06-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| City of Lubbock TX Water & Wastewater System                                                      | City of Lubbock Water & Wastewater, Series 2024                                                                       | CUSIP: 549233GT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2357582.24   | 0.23%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                                                         | BlackRock Liquidity MuniCash Funds: Institutional Shares                                                              | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | STIV             | RF                | US        |  12669795 | NS      | $12671062.34  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillsborough County Aviation Authority                                                            | Hillsborough County Aviation Authority, Series 2022A                                                                  | CUSIP: 432308M76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $618890.35    | 0.06%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                         | Indiana Finance Authority, Series 2024                                                                                | CUSIP: 45471CCW6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    900000 | PA      | $932325.21    | 0.09%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp.                                                                                    | Tennergy Corp., Series 2024A                                                                                          | CUSIP: 880397CG7<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |    210000 | PA      | $216669.36    | 0.02%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                                            | Ohio Air Quality Development Authority, Series 2005C                                                                  | CUSIP: 677525WX1<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3203804.44   | 0.32%             | 2028-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Reno-Tahoe Airport Authority                                                                      | Reno-Tahoe Airport Authority, Series 2024A                                                                            | CUSIP: 759874BT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1309335.74   | 0.13%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Borough of Pompton Lakes                                                                          | Borough of Pompton Lakes                                                                                              | CUSIP: 732233DA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $701076.29    | 0.07%             | 2025-06-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Columbus Regional Airport Authority                                                               | Columbus Regional Airport Authority, Series 2025A                                                                     | CUSIP: 199546CL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1740250.91   | 0.17%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Spokane WA Airport Revenue                                                              | County of Spokane, Series 2024B                                                                                       | CUSIP: 848661JC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1818733.18   | 0.18%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant Regional Water District Water Supply System                                               | Tarrant Regional Water District Water Supply System, Series 2015                                                      | CUSIP: 876443LK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1261694.68   | 0.13%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade                                                                              | County of Miami-Dade, Series 2024A                                                                                    | CUSIP: 59333P7E2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1828526.29   | 0.18%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                                | Tennessee Energy Acquisition Corp., Series 2006B                                                                      | CUSIP: 880443BT2<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   5925000 | PA      | $6026521.77   | 0.60%             | 2026-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| City of Burlington                                                                                | City of Burlington, Series 2007A                                                                                      | CUSIP: 121822AY6<br>LEI: 549300TTCJ3UTB6QDT32 | Long             | STIV             | MUN               | US        |   4000000 | PA      | $4000000.00   | 0.40%             | 2035-09-01      | Variable      | 3.43%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                                           | Dallas Fort Worth International Airport, Series 2023C                                                                 | CUSIP: 23503CDJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6930000 | PA      | $7205422.98   | 0.71%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                                            | Virginia Housing Development Authority, Series 2025A                                                                  | CUSIP: 92812WVX9<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1722255.84   | 0.17%             | 2029-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                                    | Black Belt Energy Gas District, Series 2022C-1                                                                        | CUSIP: 09182TBX4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    615000 | PA      | $615525.23    | 0.06%             | 2025-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City & County of Denver Airport System                                                            | City & County of Denver Airport System, Series 2018A                                                                  | CUSIP: 249182KZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5105114.36   | 0.51%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                 | State of Illinois, Series 2024B                                                                                       | CUSIP: 452153JH3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2333857.41   | 0.23%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                             | Pennsylvania Economic Development Financing Authority, Series 2019B-2                                                 | CUSIP: 708692BV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2780000 | PA      | $2758401.72   | 0.27%             | 2049-04-01      | Variable      | 4.20%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts                                                                 | Indiana Moral Obligation, Tender Option Bond Trust Receipts/Certificates, Series 2016-XL0019                          | CUSIP: 88033SVX9<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   6000000 | PA      | $6000000.00   | 0.59%             | 2030-04-01      | Variable      | 3.77%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                                              | Chicago Midway International Airport, Series 2024A                                                                    | CUSIP: 167562TP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1360958.04   | 0.13%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii                                                                                   | State of Hawaii, Series EY                                                                                            | CUSIP: 419792CF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3405000 | PA      | $3427063.71   | 0.34%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                                  | Kentucky Public Energy Authority, Series 2025A                                                                        | CUSIP: 74440DFN9<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |  18000000 | PA      | $18873369.14  | 1.87%             | 2055-06-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                                        | City of Los Angeles Department of Airports, Series 2025A                                                              | CUSIP: 5444452J7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4163351.14   | 0.41%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                                           | Michigan Strategic Fund, Series 2001                                                                                  | CUSIP: 59468PAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2672915.34   | 0.27%             | 2027-08-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2025C                                                       | CUSIP: 84136HBZ5<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1133341.65   | 0.11%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Industries Authority                                                                     | Oklahoma Industries Authority, Series 2024                                                                            | CUSIP: 67910FAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $406558.75    | 0.04%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| El Paso Electric Co.                                                                              | El Paso Electric Co.                                                                                                  | CUSIP: 28382AAP1<br>LEI: OZ8GM8L4AHPKSWZMW205 | Long             | STIV             | MUN               | US        |  10300000 | PA      | $10292682.88  | 1.02%             | 2025-06-20      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Cumberland County Industrial Facilities & Pollution Control Financing Authority                   | Cumberland County Industrial Facilities & Pollution Control Financing Authority, Series 2024                          | CUSIP: 230589AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $14963650.13  | 1.48%             | 2027-12-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Arizona Health Facilities Authority                                                               | Arizona Health Facilities Authority, Series 2015B                                                                     | CUSIP: 040507QQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $498367.75    | 0.05%             | 2046-01-01      | Floating      | 3.87%                 | No            |                  2 | On Loan: No      |
| San Joaquin Valley Clean Energy Authority                                                         | San Joaquin Valley Clean Energy Authority, Series 2025A                                                               | CUSIP: 79811YAB4<br>LEI: 254900VA5DFN33OVGH87 | Long             | DBT              | MUN               | US        |    475000 | PA      | $488599.28    | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                                  | Kentucky Public Energy Authority, Series 2024A                                                                        | CUSIP: 74440DEG5<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    425000 | PA      | $433143.55    | 0.04%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                                       | Connecticut State Health & Educational Facilities Authority, Series 2024A                                             | CUSIP: 20775DYC0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2093026.98   | 0.21%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                                           | South Carolina Public Service Authority, Series 2024A                                                                 | CUSIP: 8371513M9<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    485000 | PA      | $513367.28    | 0.05%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County School District                                                                     | Monroe County School District                                                                                         | CUSIP: 610518AT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7004262.31   | 0.69%             | 2025-05-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Township of Mount Holly                                                                           | Township of Mount Holly, Series 2024A                                                                                 | CUSIP: 621545HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3417000 | PA      | $3425646.52   | 0.34%             | 2025-09-24      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                                  | Kentucky Public Energy Authority, Series 2023A-1                                                                      | CUSIP: 74440DDU5<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    490000 | PA      | $504342.76    | 0.05%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Aviation Authority                                                            | Hillsborough County Aviation Authority, Series 2024B                                                                  | CUSIP: 432308U77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $340389.69    | 0.03%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon State Lottery                                                                              | Oregon State Lottery, Series 2025A                                                                                    | CUSIP: 68607V6A8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6900000 | PA      | $7277788.58   | 0.72%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                                                | State of Wisconsin, Series 2024-2                                                                                     | CUSIP: 97705ML45<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7137136.38   | 0.71%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                                   | New York City Municipal Water Finance Authority, Series AA-2                                                          | CUSIP: 64972GCN2<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | STIV             | MUN               | US        |   1700000 | PA      | $1700000.00   | 0.17%             | 2050-06-15      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| General Authority of Southcentral Pennsylvania                                                    | General Authority of Southcentral Pennsylvania, Series 2015                                                           | CUSIP: 84129NKE8<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1543940.92   | 0.15%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2024A                                                                           | CUSIP: 56035DGE6<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501978.23    | 0.05%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Texas                                                                                    | State of Texas, Series 2011C                                                                                          | CUSIP: 882722Q53<br>LEI: 549300X9CH74QB747L76 | Long             | STIV             | MUN               | US        |   2400000 | PA      | $2400000.00   | 0.24%             | 2042-06-01      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                                           | Energy Southeast A Cooperative District, Series 2024B                                                                 | CUSIP: 292723BE2<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |    250000 | PA      | $258402.79    | 0.03%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2019C                                                                           | CUSIP: 56035DCR1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   8520000 | PA      | $8531162.22   | 0.85%             | 2050-03-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                                              | Chicago Midway International Airport, Series 2023C                                                                    | CUSIP: 167562SY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1528733.02   | 0.15%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2025B                                                       | CUSIP: 84136HBJ1<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1353178.97   | 0.13%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lincoln Nebraska Electric                                                                         | Lincoln Nebraska Electric                                                                                             | CUSIP: 53427TGT1<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   3500000 | PA      | $3499483.40   | 0.35%             | 2025-05-08      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Sartell-St Stephen Independent School District No. 748                                            | Sartell-St Stephen Independent School District No. 748, Series 2025A                                                  | CUSIP: 803820LL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $309171.19    | 0.03%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of North Carolina                                                                           | State of North Carolina, Series 2025                                                                                  | CUSIP: 658268EY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5151424.03   | 0.51%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                                           | Energy Southeast A Cooperative District, Series 2024B                                                                 | CUSIP: 292723BB8<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |    115000 | PA      | $117329.10    | 0.01%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Luzerne County Industrial Development Authority                                                   | Luzerne County Industrial Development Authority, Series 2017                                                          | CUSIP: 55072RBG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009601.59   | 0.10%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                                              | Triborough Bridge & Tunnel Authority, Series 2022E-2A                                                                 | CUSIP: 89602HEW3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |  11000000 | PA      | $10996719.44  | 1.09%             | 2026-04-01      | Floating      | 3.97%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp. III                                                | Texas Municipal Gas Acquisition & Supply Corp. III, Series 2021                                                       | CUSIP: 88256HBA5<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |   4690000 | PA      | $4722729.31   | 0.47%             | 2025-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                                              | Chicago Midway International Airport, Series 2024A                                                                    | CUSIP: 167562TQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018905.87   | 0.10%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                                           | Energy Southeast A Cooperative District, Series 2024B                                                                 | CUSIP: 292723BD4<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |    240000 | PA      | $246955.92    | 0.02%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palmyra Macedon Central School District                                                           | Palmyra Macedon Central School District                                                                               | CUSIP: 697209QM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4320000 | PA      | $4324609.97   | 0.43%             | 2025-06-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                                              | Chicago O'Hare International Airport, Series 2022C                                                                    | CUSIP: 167593Z21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1416707.99   | 0.14%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2019A                                                                           | CUSIP: 56035DBF8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   5695000 | PA      | $5761008.77   | 0.57%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Oklahoma (The)                                                                      | University of Oklahoma (The), Series 2024A                                                                            | CUSIP: 91476PYW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300806.03    | 0.03%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2023B                                                                           | CUSIP: 56035DES7<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    260000 | PA      | $261028.68    | 0.03%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fort Bend Independent School District                                                             | Fort Bend Independent School District, Series 2025A                                                                   | CUSIP: 346843WT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1993216.68   | 0.20%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New Hampshire                                                                            | State of New Hampshire, Series 2025A                                                                                  | CUSIP: 64468FCA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2460000 | PA      | $2505646.22   | 0.25%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2023B                                                       | CUSIP: 84136GAA3<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    170000 | PA      | $170132.02    | 0.02%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                                                  | Minnesota Housing Finance Agency, Series 2017F                                                                        | CUSIP: 60416SWE6<br>LEI: 549300R89XDTQBK4GE22 | Long             | STIV             | MUN               | US        |   4000000 | PA      | $4000000.00   | 0.40%             | 2041-01-01      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                                  | Kentucky Public Energy Authority, Series 2024A                                                                        | CUSIP: 74440DEE0<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    315000 | PA      | $315419.10    | 0.03%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Health Facilities Authority                                                               | Arizona Health Facilities Authority, Series 2015B                                                                     | CUSIP: 040507QS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98513.56     | 0.01%             | 2046-01-01      | Floating      | 3.87%                 | No            |                  2 | On Loan: No      |
| New Hampshire Housing Finance Authority                                                           | New Hampshire Housing Finance Authority, Series 2024D                                                                 | CUSIP: 64469D4P3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5950000 | PA      | $5951887.97   | 0.59%             | 2056-07-01      | Variable      | 3.58%                 | No            |                  2 | On Loan: No      |
| City of New York                                                                                  | City of New York, Series B-5                                                                                          | CUSIP: 64966MSD2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | STIV             | MUN               | US        |   9750000 | PA      | $9750000.00   | 0.97%             | 2046-10-01      | Variable      | 2.55%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                        | Illinois Finance Authority, Series 2024                                                                               | CUSIP: 45204FVT9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    400000 | PA      | $405724.09    | 0.04%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                                                | Board of Regents of the University of Texas System                                                                    | CUSIP: 91514CLN9<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | STIV             | MUN               | US        |   6500000 | PA      | $6499050.35   | 0.64%             | 2025-05-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| New Mexico Municipal Energy Acquisition Authority                                                 | New Mexico Municipal Energy Acquisition Authority, Series 2025                                                        | CUSIP: 647207BF5<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |    480000 | PA      | $495645.30    | 0.05%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                                                | Allegheny County Airport Authority, Series 2025A                                                                      | CUSIP: 01728LKG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5410000 | PA      | $5651066.78   | 0.56%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                                                     | Kentucky State Property & Building Commission, Series 2024B                                                           | CUSIP: 49151F2Y5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5250000 | PA      | $5293397.66   | 0.52%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2022B                                                                           | CUSIP: 56035DEB4<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1791213.76   | 0.18%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2023B                                                       | CUSIP: 84136GAB1<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    185000 | PA      | $187258.50    | 0.02%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Kansas City                                                                               | City of Kansas City, Series 2025C                                                                                     | CUSIP: 485106M21<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1304901.58   | 0.13%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                                              | Chicago O'Hare International Airport, Series 2024C                                                                    | CUSIP: 1675935J7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6063936.31   | 0.60%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Oregon Department of Transportation                                                      | State of Oregon Department of Transportation, Series B                                                                | CUSIP: 68607DTE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2235000 | PA      | $2310439.26   | 0.23%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                        | Illinois Finance Authority, Series 2020B                                                                              | CUSIP: 45204FAG0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | STIV             | MUN               | US        |  13200000 | PA      | $13200000.00  | 1.31%             | 2049-08-15      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| Onondaga County Resource Recovery Agency                                                          | Onondaga County Resource Recovery Agency, Series 2015A                                                                | CUSIP: 682756BE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2830000 | PA      | $2833246.67   | 0.28%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                                    | Black Belt Energy Gas District, Series 2024C                                                                          | CUSIP: 09182TDQ7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1517807.68   | 0.15%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Hamilton OH                                                                               | City of Hamilton, Series 2024                                                                                         | CUSIP: 407756P82<br>LEI: 549300NCXYTNZWHRP508 | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2912575.33   | 0.29%             | 2025-12-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp.                                                                                    | Tennergy Corp., Series 2022A                                                                                          | CUSIP: 880397BZ6<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |    575000 | PA      | $577112.60    | 0.06%             | 2025-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2024C                                                       | CUSIP: 84136HAA1<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018181.15   | 0.10%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lubbock TX Water & Wastewater System                                                      | City of Lubbock Water & Wastewater, Series 2024                                                                       | CUSIP: 549233GS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5620000 | PA      | $5800292.18   | 0.58%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Galveston                                                                                 | City of Galveston, Series 2024A                                                                                       | CUSIP: 364568JP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $749159.66    | 0.07%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                                             | New Mexico Mortgage Finance Authority, Series 2023                                                                    | CUSIP: 64719HEN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    970000 | PA      | $972592.33    | 0.10%             | 2042-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Mission Economic Development Corp.                                                                | Mission Economic Development Corp., Series 2020A                                                                      | CUSIP: 605155BQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6439865.88   | 0.64%             | 2050-05-01      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                                    | Black Belt Energy Gas District, Series 2023D-1                                                                        | CUSIP: 09182TCR6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2730000 | PA      | $2866503.54   | 0.28%             | 2049-06-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp. V                                                  | Texas Municipal Gas Acquisition & Supply Corp. V, Series 2024                                                         | CUSIP: 88256RAD8<br>LEI: 254900XZ4J30QIJO9G03 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1070406.15   | 0.11%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                                           | South Carolina Public Service Authority, Series 2024A                                                                 | CUSIP: 8371513L1<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    485000 | PA      | $506370.46    | 0.05%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth                  | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2001                    | CUSIP: 546279JR2<br>LEI: 5493004WIZ1HV87IVF85 | Long             | STIV             | MUN               | US        |   4000000 | PA      | $4000000.00   | 0.40%             | 2036-12-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Town of Ossining                                                                                  | Town of Ossining                                                                                                      | CUSIP: 688562FC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3535983 | PA      | $3548954.28   | 0.35%             | 2025-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Webutuck Central School District                                                                  | Webutuck Central School District                                                                                      | CUSIP: 94844WCK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4700000 | PA      | $4704965.28   | 0.47%             | 2025-06-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                 | State of Illinois, Series 2024B                                                                                       | CUSIP: 452153JG5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000034.56   | 0.10%             | 2025-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Municipal Energy Acquisition Authority                                                 | New Mexico Municipal Energy Acquisition Authority, Series 2025                                                        | CUSIP: 647207BG3<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |    635000 | PA      | $659396.09    | 0.07%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Housing Development Agency                                                              | Tennessee Housing Development Agency, Series 2024-3C                                                                  | CUSIP: 88046KPP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3520000 | PA      | $3513266.26   | 0.35%             | 2056-01-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                               | Wisconsin Health & Educational Facilities Authority, Series 2008B                                                     | CUSIP: 97710BDK5<br>LEI: 549300ISNGXS0VHGVD41 | Long             | STIV             | MUN               | US        |  10355000 | PA      | $10355000.00  | 1.03%             | 2033-12-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Schodack Central School District                                                                  | Schodack Central School District                                                                                      | CUSIP: 806891KM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1201422.64   | 0.12%             | 2025-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2024B                                                                           | CUSIP: 56035DGX4<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    200000 | PA      | $203370.45    | 0.02%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hempstead Town Local Development Corp.                                                            | Hempstead Town Local Development Corp., Series 2021A                                                                  | CUSIP: 424682LF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $521444.57    | 0.05%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Public School Authority                                                                  | Virginia Public School Authority, Series 2017C                                                                        | CUSIP: 92818HJW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $709365.08    | 0.07%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Alabama Gas Supply District (The)                                                       | Southeast Alabama Gas Supply District (The), Series 2024B                                                             | CUSIP: 84131TBE1<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |    800000 | PA      | $807316.22    | 0.08%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah County Hospital                                                                              | Utah County Hospital, Series 2018C                                                                                    | CUSIP: 917393CY4<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   3700000 | PA      | $3700000.00   | 0.37%             | 2058-05-15      | Variable      | 2.40%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority, Tender Option Bond Trust Receipts/Certificates           | South Carolina Public Service Authority, Tender Option Bond Trust Receipts/Certificates, Series 2022-XG0398           | CUSIP: 88035DJD8<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |    700000 | PA      | $700000.00    | 0.07%             | 2055-12-01      | Variable      | 3.74%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp.                                        | Tarrant County Cultural Education Facilities Finance Corp., Series 2024B                                              | CUSIP: 87638THK2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    875000 | PA      | $891342.03    | 0.09%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2024C                                                       | CUSIP: 84136HAB9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028135.53   | 0.10%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Okemos Public Schools                                                                             | Okemos Public Schools, Series 2024II                                                                                  | CUSIP: 678467NL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1221755.68   | 0.12%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DuPage County Forest Preserve District                                                            | DuPage County Forest Preserve District, Series 2025                                                                   | CUSIP: 262651VK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $750679.18    | 0.07%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Township of Egg Harbor                                                                            | Township of Egg Harbor                                                                                                | CUSIP: 282305HW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $901317.33    | 0.09%             | 2025-08-07      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2025C                                                       | CUSIP: 84136HBY8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    840000 | PA      | $862475.67    | 0.09%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                         | Indiana Finance Authority, Series 2021B                                                                               | CUSIP: 45506EDH3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | STIV             | MUN               | US        |    835000 | PA      | $814359.82    | 0.08%             | 2039-03-01      | Floating      | 3.92%                 | No            |                  2 | On Loan: No      |
| Essex County Improvement Authority                                                                | Essex County Improvement Authority, Series 2024                                                                       | CUSIP: 296807ML1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8295000 | PA      | $8307738.17   | 0.82%             | 2025-06-18      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                                  | Kentucky Public Energy Authority, Series 2018C-1                                                                      | CUSIP: 74440DBR4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3999722.29   | 0.40%             | 2049-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                                         | City of Salt Lake City, Series 2018A                                                                                  | CUSIP: 795576GZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037652.51   | 0.10%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2023D                                                                           | CUSIP: 56035DFN7<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019189.61   | 0.10%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                                                | Board of Regents of the University of Texas System, Series 2025A                                                      | CUSIP: 91514AMU6<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10577207.95  | 1.05%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                                              | Colorado Health Facilities Authority, Series 2018B                                                                    | CUSIP: 19648FGN8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007579.65   | 0.10%             | 2048-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                         | Indiana Finance Authority, Series 2010A                                                                               | CUSIP: 45505RBN4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2990089.65   | 0.30%             | 2028-05-01      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| Comal Independent School District                                                                 | Comal Independent School District, Series 2024                                                                        | CUSIP: 1998207K1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2538344.19   | 0.25%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sartell-St Stephen Independent School District No. 748                                            | Sartell-St Stephen Independent School District No. 748, Series 2025A                                                  | CUSIP: 803820LK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $514546.28    | 0.05%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Spokane WA Airport Revenue                                                              | County of Spokane, Series 2024B                                                                                       | CUSIP: 848661JB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1668019.38   | 0.17%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue                   | Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue                                       | CUSIP: 59209TGD7<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  10000000 | PA      | $10001425.00  | 0.99%             | 2025-05-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Maine State Housing Authority                                                                     | Maine State Housing Authority, Series 2024E                                                                           | CUSIP: 56052FM69<br>LEI: 549300SO05LH6D240016 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10003126.53  | 0.99%             | 2054-11-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                                            | Iowa Finance Authority, Series 2021                                                                                   | CUSIP: 46246YAB8<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $6973928.91   | 0.69%             | 2042-01-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                                              | Chicago O'Hare International Airport, Series 2024C                                                                    | CUSIP: 1675935M0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10427278.14  | 1.03%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp.                                                        | Monroe County Industrial Development Corp., Series 2023B-1                                                            | CUSIP: 61075NAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4120045.47   | 0.41%             | 2028-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Winchester Economic Development Authority                                                         | Winchester Economic Development Authority, Series 2024A                                                               | CUSIP: 973122AD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1131232.92   | 0.11%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                                  | Kentucky Public Energy Authority, Series 2024B                                                                        | CUSIP: 74440DET7<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    920000 | PA      | $946929.26    | 0.09%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue                   | Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue                                       | CUSIP: 59209TGB1<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  20000000 | PA      | $19997482.00  | 1.98%             | 2025-05-07      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| San Antonio Water System                                                                          | San Antonio Water System, Series 2016A                                                                                | CUSIP: 79642BY49<br>LEI: 549300S7VENCVRZAA322 | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1026417.89   | 0.10%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority                                                       | Washington Health Care Facilities Authority, Series 2019B-2                                                           | CUSIP: 93978HVA0<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800849.73    | 0.08%             | 2049-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2024E                                                                           | CUSIP: 56035DJE3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2810000 | PA      | $2908851.02   | 0.29%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2024C                                                                           | CUSIP: 56035DHN5<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    750000 | PA      | $769993.74    | 0.08%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                                            | Iowa Finance Authority, Series 2016E                                                                                  | CUSIP: 462466FQ1<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    795000 | PA      | $802375.49    | 0.08%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                                  | Kentucky Public Energy Authority, Series 2024A                                                                        | CUSIP: 74440DEF7<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    375000 | PA      | $379238.38    | 0.04%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                                                | Board of Regents of the University of Texas System                                                                    | CUSIP: 91514YCL5<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | STIV             | MUN               | US        |   5000000 | PA      | $4998615.50   | 0.50%             | 2025-05-14      | Fixed         | 2.83%                 | No            |                  2 | On Loan: No      |
| DeKalb Park District                                                                              | DeKalb Park District, Series 2025                                                                                     | CUSIP: 240790BP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $323050.81    | 0.03%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                 | City of Quincy, Series 2024                                                                                           | CUSIP: 748508V62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1529929.16   | 0.15%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Garfield County Industrial Authority                                                              | Garfield County Industrial Authority, Series 2024A                                                                    | CUSIP: 365753AW2<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   5400000 | PA      | $5400000.00   | 0.54%             | 2039-10-01      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| Plano Independent School District                                                                 | Plano Independent School District, Series 2025                                                                        | CUSIP: 727199E23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4794246.14   | 0.48%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                                    | Black Belt Energy Gas District, Series 2024C                                                                          | CUSIP: 09182TDP9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    935000 | PA      | $953768.77    | 0.09%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Health Facilities Authority                                                               | Arizona Health Facilities Authority, Series 2015B                                                                     | CUSIP: 040507QT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2972365.72   | 0.29%             | 2046-01-01      | Floating      | 3.87%                 | No            |                  2 | On Loan: No      |
| Southeast Alabama Gas Supply District (The)                                                       | Southeast Alabama Gas Supply District (The), Series 2024B                                                             | CUSIP: 84131TBC5<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |    965000 | PA      | $965018.48    | 0.10%             | 2025-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Douglas                                                                                 | County of Douglas, Series 2021B                                                                                       | CUSIP: 259226CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3395749.74   | 0.34%             | 2035-07-01      | Floating      | 4.15%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                                 | City & County of Denver Airport System, Series 2018A                                                                  | CUSIP: 249182LB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4605000 | PA      | $4807089.21   | 0.48%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lubbock TX Water & Wastewater System                                                      | City of Lubbock Water & Wastewater, Series 2024                                                                       | CUSIP: 549233GR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2232294.04   | 0.22%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                                       | Ohio Higher Educational Facility Commission, Series 2021B                                                             | CUSIP: 67756DZJ8<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6365827.41   | 0.63%             | 2042-12-01      | Floating      | 3.85%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                                          | New Jersey Higher Education Student Assistance Authority, Series 2024B                                                | CUSIP: 646080XU0<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1645084.11   | 0.16%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2023A                                                       | CUSIP: 84136FBP1<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    650000 | PA      | $650793.16    | 0.06%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Oregon Housing & Community Services Department                                           | State of Oregon Housing & Community Services Department, Series 2024R                                                 | CUSIP: 68608ENL2<br>LEI: 549300N3PYWYJ0Z8N757 | Long             | DBT              | MUN               | US        |  12000000 | PA      | $12040261.23  | 1.19%             | 2048-01-10      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Kansas City                                                                               | City of Kansas City, Series 2025C                                                                                     | CUSIP: 485106L97<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |   2185000 | PA      | $2320085.35   | 0.23%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                        | Illinois Finance Authority, Series 2025A                                                                              | CUSIP: 45204FA21<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1861121.11   | 0.18%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX                                                                                 | City of Austin TX                                                                                                     | CUSIP: 05248NXD7<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | STIV             | MUN               | US        |   5000000 | PA      | $4996378.00   | 0.50%             | 2025-06-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                                       | Metropolitan Washington Airports Authority Aviation, Series 2021A                                                     | CUSIP: 592647JW2<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |    800000 | PA      | $824625.92    | 0.08%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                                    | Omaha Nebraska Airport Authority, Tender Option Bond Trust Receipts/Certificates, Series 2024-XG0593                  | CUSIP: 88035JY22<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  10000000 | PA      | $10000000.00  | 0.99%             | 2049-12-15      | Variable      | 3.82%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                                       | Washington State Housing Finance Commission, Series 2016VR-1N                                                         | CUSIP: 93978TTF6<br>LEI: 549300YL1HU59NREG764 | Long             | STIV             | MUN               | US        |   3700000 | PA      | $3700000.00   | 0.37%             | 2046-12-01      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                                   | New York City Municipal Water Finance Authority, Series 2023, Sub-Series B-1                                          | CUSIP: 64972GC44<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | STIV             | MUN               | US        |   2500000 | PA      | $2500000.00   | 0.25%             | 2044-06-15      | Variable      | 2.55%                 | No            |                  2 | On Loan: No      |
| Idaho Health Facilities Authority                                                                 | Idaho Health Facilities Authority, Series 2025D                                                                       | CUSIP: 451295E47<br>LEI: 549300X43KY1C2WW0J97 | Long             | STIV             | MUN               | US        |   6000000 | PA      | $6000000.00   | 0.59%             | 2060-03-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                                    | Black Belt Energy Gas District, Series 2024D                                                                          | CUSIP: 09182TED5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2028717.96   | 0.20%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                                                   | Allegheny County Hospital Development Authority, Series 2017D-2 , Sub-Series D                                        | CUSIP: 01728A5U6<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997847.90    | 0.10%             | 2026-11-15      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                                    | Black Belt Energy Gas District, Series 2023C                                                                          | CUSIP: 09182TCU9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017362.59   | 0.10%             | 2026-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RBC Municipal Products, Inc. Trust                                                                | RBC Municipal Products, Inc. Trust, Series 2018C-16                                                                   | CUSIP: 74934RQJ8<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.20%             | 2039-09-01      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Financing Authority, Tender Option Bond Trust Receipts/Certificates | Kentucky Economic Development Financing Authority, Tender Option Bond Trust Receipts/Certificates, Series 2018-XG0161 | CUSIP: 88033Y2K6<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |    500000 | PA      | $500000.00    | 0.05%             | 2041-12-01      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                          | New Hampshire Business Finance Authority, Series 2018A                                                                | CUSIP: 63608RAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15001921.50  | 1.49%             | 2033-10-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Lafayette Central School District                                                                 | Lafayette Central School District, Series 2024                                                                        | CUSIP: 506549FB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001334.76   | 0.10%             | 2025-06-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Durham Capital Financing Corp.                                                                    | Durham Capital Financing Corp., Series 2016                                                                           | CUSIP: 266780CL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025739.44   | 0.10%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of St Louis Missouri (The)                           | Industrial Development Authority of the City of St Louis Missouri (The), Series 2025                                  | CUSIP: 791900FX6<br>LEI: 549300WTUL8KX1FOUZ40 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1475168.72   | 0.15%             | 2046-04-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                                           | Energy Southeast A Cooperative District, Series 2024B                                                                 | CUSIP: 292723BA0<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101583.53    | 0.01%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                                      | New York City Transitional Finance Authority, Series 2025D                                                            | CUSIP: 64972JMU9<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2676020.81   | 0.27%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                                | Tennessee Energy Acquisition Corp., Series 2023A-1                                                                    | CUSIP: 880443JF4<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5125678.63   | 0.51%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New Hampshire                                                                            | State of New Hampshire, Series 2025A                                                                                  | CUSIP: 64468FCB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1658608.15   | 0.16%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lamar Consolidated Independent School District                                                    | Lamar Consolidated Independent School District, Series 2024A                                                          | CUSIP: 513174Q54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5072438.05   | 0.50%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Whatcom County Public Utility District No. 1                                                      | Whatcom County Public Utility District No. 1, Series 2025A                                                            | CUSIP: 962468FF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $549118.31    | 0.05%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2025A                                                                           | CUSIP: 56035DJT0<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    750000 | PA      | $779883.44    | 0.08%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Burlington                                                                                | City of Burlington, Series 2007B                                                                                      | CUSIP: 121822AZ3<br>LEI: 549300TTCJ3UTB6QDT32 | Long             | STIV             | MUN               | US        |   9000000 | PA      | $9000000.00   | 0.89%             | 2035-09-01      | Variable      | 3.43%                 | No            |                  2 | On Loan: No      |
| El Paso Electric Co.                                                                              | El Paso Electric Co.                                                                                                  | CUSIP: 28382AAR7<br>LEI: OZ8GM8L4AHPKSWZMW205 | Long             | STIV             | MUN               | US        |   3500000 | PA      | $3497272.45   | 0.35%             | 2025-06-20      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia                                                                              | City of Philadelphia, Series 2017B                                                                                    | CUSIP: 717817UB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2042442.17   | 0.20%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Galveston                                                                                 | City of Galveston, Series 2024A                                                                                       | CUSIP: 364568JM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $634814.12    | 0.06%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Aviation Authority                                                            | Hillsborough County Aviation Authority, Series 2024B                                                                  | CUSIP: 432308U85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3330847.17   | 0.33%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                 | City of Quincy, Series 2024                                                                                           | CUSIP: 748508V54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1439328.87   | 0.14%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                                                | Board of Regents of the University of Texas System                                                                    | CUSIP: 91514CME8<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | STIV             | MUN               | US        |   6000000 | PA      | $5994654.00   | 0.59%             | 2025-07-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                                       | District of Columbia Housing Finance Agency, Series 2025                                                              | CUSIP: 25477PQE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2485286.52   | 0.25%             | 2046-05-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority, Tender Option Bond Trust Receipts/Certificates        | Metropolitan Washington Airports Authority, Tender Option Bond Trust Receipts/Certificates, Series 2019-XG0267        | CUSIP: 88034UNN4<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |    220000 | PA      | $220000.00    | 0.02%             | 2053-10-01      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2024C                                                                           | CUSIP: 56035DHP0<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    925000 | PA      | $954106.67    | 0.09%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Miamisburg OH                                                                             | City of Miamisburg, Series 2025                                                                                       | CUSIP: 593864MK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2008298.80   | 0.20%             | 2026-02-10      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp.                                                                                    | Tennergy Corp., Series 2024A                                                                                          | CUSIP: 880397CH5<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |    625000 | PA      | $648134.14    | 0.06%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Babylon Union Free School District                                                                | Babylon Union Free School District                                                                                    | CUSIP: 056219NX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3102054.57   | 0.31%             | 2025-06-24      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Union Endicott Central School District                                                            | Union Endicott Central School District                                                                                | CUSIP: 906582LY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4800000 | PA      | $4807579.83   | 0.48%             | 2025-06-27      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade                                                                              | County of Miami-Dade Water & Sewer System, Series 2015                                                                | CUSIP: 59334DHZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1525212.66   | 0.15%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                                           | South Carolina Public Service Authority, Series 2024A                                                                 | CUSIP: 8371513K3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    675000 | PA      | $694110.29    | 0.07%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Colorado Hospital Authority                                                         | University of Colorado Hospital Authority, Series 2018B                                                               | CUSIP: 914183BJ6<br>LEI: GQ60RLZ5ZEBY2J9KLI75 | Long             | STIV             | MUN               | US        |   6000000 | PA      | $6000000.00   | 0.59%             | 2035-11-15      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                 | State of Illinois, Series 2024B                                                                                       | CUSIP: 452153JK6<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1663351.93   | 0.16%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                 | City of Quincy, Series 2024                                                                                           | CUSIP: 748508V39<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1262299.13   | 0.13%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                        | Illinois Finance Authority, Series 2018C                                                                              | CUSIP: 45204EM54<br>LEI: 549300ZG6UBPNNNRN315 | Long             | STIV             | MUN               | US        |  20000000 | PA      | $20000000.00  | 1.98%             | 2037-11-15      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                         | Indiana Finance Authority, Series 2024                                                                                | CUSIP: 45471CCX4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    765000 | PA      | $800622.18    | 0.08%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                                            | Virginia Housing Development Authority, Series 2024H                                                                  | CUSIP: 92812WUU6<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1450002.66   | 0.14%             | 2028-12-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                                           | Energy Southeast A Cooperative District, Series 2024B                                                                 | CUSIP: 292723BC6<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102466.09    | 0.01%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2022B-1                                                     | CUSIP: 84136FBB2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |  10500000 | PA      | $10773309.06  | 1.07%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Spokane WA Airport Revenue                                                              | County of Spokane, Series 2024B                                                                                       | CUSIP: 848661HZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $725638.07    | 0.07%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority                                                        | Massachusetts Bay Transportation Authority                                                                            | CUSIP: 57559GBL2<br>LEI: 549300D2U0XBUXGX8P68 | Long             | STIV             | MUN               | US        |   5200000 | PA      | $5199389.00   | 0.52%             | 2025-05-06      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| City of Port St Lucie                                                                             | City of Port St Lucie, Series 2016                                                                                    | CUSIP: 735352QD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $827481.63    | 0.08%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEFA, Inc.                                                                                        | PEFA, Inc., Series 2019                                                                                               | CUSIP: 70556CAB0<br>LEI: 549300RSE249DJNRHY07 | Long             | DBT              | MUN               | US        |  24140000 | PA      | $24404714.54  | 2.42%             | 2049-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Burke County (The)                                                       | Development Authority of Burke County (The), Series 2013-1                                                            | CUSIP: 121342QL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3715965.84   | 0.37%             | 2053-11-01      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                                       | Connecticut State Health & Educational Facilities Authority, Series 2024A                                             | CUSIP: 20775DYB2<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    550000 | PA      | $551505.04    | 0.05%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Township of Maplewood                                                                             | Township of Maplewood                                                                                                 | CUSIP: 565624NG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5100000 | PA      | $5110417.74   | 0.51%             | 2025-10-07      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                                  | Kentucky Public Energy Authority, Series 2024B                                                                        | CUSIP: 74440DEM2<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    375000 | PA      | $375865.83    | 0.04%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp. V                                                  | Texas Municipal Gas Acquisition & Supply Corp. V, Series 2024                                                         | CUSIP: 88256RAA4<br>LEI: 254900XZ4J30QIJO9G03 | Long             | DBT              | MUN               | US        |    550000 | PA      | $552195.22    | 0.05%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Walled Lake Consolidated School District                                                          | Walled Lake Consolidated School District, Series 2024                                                                 | CUSIP: 932423WW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $483611.62    | 0.05%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2025B                                                       | CUSIP: 84136HBK8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1280960.95   | 0.13%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2025C                                                       | CUSIP: 84136HCB7<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1171678.06   | 0.12%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                                               | State of Washington, Series R-2024C                                                                                   | CUSIP: 93974EZ41<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2547885.97   | 0.25%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                                               | State of California                                                                                                   | CUSIP: 13063ELT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2405580.50   | 0.24%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2023B                                                       | CUSIP: 84136GAC9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021692.50   | 0.10%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Sanitary Authority                                                               | Allegheny County Sanitary Authority, Series 2024                                                                      | CUSIP: 017357P24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1667733.04   | 0.17%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth                  | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2002                    | CUSIP: 546279MC1<br>LEI: 5493004WIZ1HV87IVF85 | Long             | STIV             | MUN               | US        |   6000000 | PA      | $6000000.00   | 0.59%             | 2037-12-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                                            | Virginia Housing Development Authority, Series 2024H                                                                  | CUSIP: 92812WUV4<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   3965000 | PA      | $3960424.30   | 0.39%             | 2029-06-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                                       | District of Columbia Housing Finance Agency, Series 2025B                                                             | CUSIP: 25477TBB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2010000 | PA      | $2075258.91   | 0.21%             | 2029-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                             | Pennsylvania Economic Development Financing Authority, Series 2019A                                                   | CUSIP: 708692BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $6997368.16   | 0.69%             | 2038-08-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Miami-Dade County Housing Finance Authority                                                       | Miami-Dade County Housing Finance Authority, Series 2025B                                                             | CUSIP: 593344CA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2995833.21   | 0.30%             | 2029-03-01      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue                   | Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue                                       | CUSIP: 59209TGC9<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   4000000 | PA      | $3999905.20   | 0.40%             | 2025-05-08      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| City of Galveston                                                                                 | City of Galveston, Series 2024A                                                                                       | CUSIP: 364568JN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $666600.66    | 0.07%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon State Lottery                                                                              | Oregon State Lottery, Series 2025A                                                                                    | CUSIP: 68607V5Z4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9875000 | PA      | $10191890.97  | 1.01%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bowie County Industrial Development Corp.                                                         | Bowie County Industrial Development Corp., Series 1985                                                                | CUSIP: 102446AA9<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   3500000 | PA      | $3500000.00   | 0.35%             | 2025-11-01      | Variable      | 2.55%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2024A                                                                           | CUSIP: 56035DGF3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    680000 | PA      | $687330.68    | 0.07%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured                                   | New York City Transitional Finance Authority Future Tax Secured, Series 2019C-4                                       | CUSIP: 64971XKS6<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   5100000 | PA      | $5100000.00   | 0.51%             | 2044-11-01      | Variable      | 2.55%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2025B                                                       | CUSIP: 84136HBL6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1221465.98   | 0.12%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| El Paso Electric Co.                                                                              | El Paso Electric Co.                                                                                                  | CUSIP: 28382AAQ9<br>LEI: OZ8GM8L4AHPKSWZMW205 | Long             | STIV             | MUN               | US        |   3200000 | PA      | $3197728.00   | 0.32%             | 2025-06-20      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles                                                                               | City of Los Angeles, Series 2024                                                                                      | CUSIP: 544351SE0<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10017121.89  | 0.99%             | 2025-06-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Township of Pemberton                                                                             | Township of Pemberton                                                                                                 | CUSIP: 706252HL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3477000 | PA      | $3480012.45   | 0.35%             | 2025-05-27      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                                      | New York City Transitional Finance Authority, Series 2025D                                                            | CUSIP: 64972JMR6<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   4450000 | PA      | $4536640.08   | 0.45%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                                                | Board of Regents of the University of Texas System                                                                    | CUSIP: 91514CMN8<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | STIV             | MUN               | US        |   4000000 | PA      | $3996134.00   | 0.40%             | 2025-07-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                                | Tennessee Energy Acquisition Corp., Series 2006A                                                                      | CUSIP: 880443BS4<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   3355000 | PA      | $3385257.00   | 0.34%             | 2026-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                                     | Main Street Natural Gas, Inc., Series 2024B                                                                           | CUSIP: 56035DGY2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    490000 | PA      | $500977.60    | 0.05%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minneapolis-St Paul Metropolitan Airports Commission                                              | Minneapolis-St Paul Metropolitan Airports Commission, Series 2024B                                                    | CUSIP: 603827N77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2958125.05   | 0.29%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp. III                                                | Texas Municipal Gas Acquisition & Supply Corp. III, Series 2021                                                       | CUSIP: 88256HBB3<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1882034.84   | 0.19%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                                           | Energy Southeast A Cooperative District, Series 2023B-1                                                               | CUSIP: 292723AN3<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1615622.02   | 0.16%             | 2027-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                 | City of Quincy, Series 2024                                                                                           | CUSIP: 748508V21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1180052.40   | 0.12%             | 2025-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                                  | Kentucky Public Energy Authority, Series 2024B                                                                        | CUSIP: 74440DER1<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    865000 | PA      | $884031.36    | 0.09%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Parish of St James                                                                                | Parish of St James, Series 2010B-1                                                                                    | CUSIP: 790103AG0<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  26500000 | PA      | $26500000.00  | 2.63%             | 2040-11-01      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| DeKalb Park District                                                                              | DeKalb Park District, Series 2025                                                                                     | CUSIP: 240790BQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $342872.37    | 0.03%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                         | Indiana Finance Authority, Series 2009D                                                                               | CUSIP: 45471AAS1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | STIV             | MUN               | US        |   2400000 | PA      | $2400000.00   | 0.24%             | 2039-11-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2025C                                                       | CUSIP: 84136HCA9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    885000 | PA      | $914867.47    | 0.09%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                                    | Black Belt Energy Gas District, Series 2022E                                                                          | CUSIP: 09182TBL0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5135359.19   | 0.51%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Board of the City of Mobile Alabama                                        | Industrial Development Board of the City of Mobile Alabama, Series 2008                                               | CUSIP: 607167DX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9000000 | PA      | $8983381.81   | 0.89%             | 2034-07-15      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| Borough of Manasquan                                                                              | Borough of Manasquan                                                                                                  | CUSIP: 561773BN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2711000 | PA      | $2719399.07   | 0.27%             | 2025-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Walled Lake Consolidated School District                                                          | Walled Lake Consolidated School District, Series 2024                                                                 | CUSIP: 932423WV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $405018.23    | 0.04%             | 2025-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                 | Southeast Energy Authority A Cooperative District, Series 2024C                                                       | CUSIP: 84136HAC7<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034444.96   | 0.10%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-04-30

**Name of Applicant:** iShares U.S. ETF Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer