# EDGAR Filing Document

**Accession Number:** 0000866700
**File Stem:** 0001145549-25-046944
**Filing Date:** 2025-7
**Character Count:** 70693
**Document Hash:** 0a28970f121868bfe3e73ad39f086c23
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-046944.hdr.sgml**: 20250722

**ACCESSION NUMBER**: 0001145549-25-046944

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250722

**DATE AS OF CHANGE**: 20250722

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Municipal Securities Income Trust
- **CENTRAL INDEX KEY:** 0000866700

**ORGANIZATION NAME:**
- **EIN:** 251695291
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06165
- **FILM NUMBER:** 251139016

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

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

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

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

Federated Hermes Pennsylvania Municipal Income Fund

Portfolio of Investments

May 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—99.2% |  |
|  | **Pennsylvania—94.4%** |  |
| $1000000 | Adam County, PA General Authority (Cross Keys Village - Brethren Home Community), Revenue Bonds (Series 2024A), <br> 5.000%, 6/1/2054<br>| &nbsp;&nbsp; $918312 |
| &nbsp;&nbsp; 1000000 | Allegheny County, PA Airport Authority (Pittsburgh International Airport), Airport Revenue Bonds (Series 2023A), (Assured <br> Guaranty, Inc. INS), 5.500%, 1/1/2048<br>| &nbsp;&nbsp; 1036164 |
| &nbsp;&nbsp; 1000000 | Allegheny County, PA Airport Authority (Pittsburgh International Airport), Airport Revenue Bonds (Series 2025A), (Assured <br> Guaranty, Inc. INS), 5.500%, 1/1/2050<br>| &nbsp;&nbsp; 1043788 |
| &nbsp;&nbsp; 530000 | Allegheny County, PA Higher Education Building Authority (Carnegie Mellon University), Revenue Bonds (Series 2019A), <br> 5.000%, 8/1/2027<br>| &nbsp;&nbsp; 554105 |
| &nbsp;&nbsp; 2000000 | Allegheny County, PA Hospital Development Authority (Allegheny Health Network Obligated Group), Revenue Bonds <br> (Series 2018A), 5.000%, 4/1/2047<br>| &nbsp;&nbsp; 1949832 |
| &nbsp;&nbsp; 1250000 | Allegheny County, PA Sanitation Authority, Sewer Revenue Bonds (Series 2024), 5.000%, 12/1/2049 | &nbsp;&nbsp; 1270288 |
| &nbsp;&nbsp; 1000000 | Allegheny County, PA, UT GO Bonds (Series C-77), 5.000%, 11/1/2043 | &nbsp;&nbsp; 1016102 |
| &nbsp;&nbsp; 500000 | Allegheny County, PA, UT GO Refunding Bonds (Series C-80), 5.000%, 12/1/2054 | &nbsp;&nbsp; 507794 |
| &nbsp;&nbsp; 500000<br><sup>1</sup> <br>| Allentown, PA Neighborhood Improvement Zone Development Authority, City Center Project Tax Revenue Bonds <br> (Series 2024), 5.000%, 5/1/2042<br>| &nbsp;&nbsp; 482083 |
| &nbsp;&nbsp; 1000000 | Bethlehem, PA Area School District, LT GO Bonds (Series 2025), (Build America Mutual Assurance GTD), 5.000%, 10/1/2043 | &nbsp;&nbsp; 1031331 |
| &nbsp;&nbsp; 1000000 | Bethlehem, PA Area School District, LT GO Bonds (Series 2025A), (Build America Mutual Assurance INS), 5.000%, 8/1/2035 | &nbsp;&nbsp; 1085376 |
| &nbsp;&nbsp; 1450000 | Bucks County, PA IDA (Pennswood Village), Revenue Bonds (Series 2018A), 5.000%, 10/1/2037 | &nbsp;&nbsp; 1460777 |
| &nbsp;&nbsp; 1000000 | Capital Region Water, PA, Water Revenue Refunding Bonds (Series 2018), 5.000%, 7/15/2032 | &nbsp;&nbsp; 1047534 |
| &nbsp;&nbsp; 450000 | Central Dauphin, PA School District, LT GO Bonds (Series 2025), 5.000%, 2/1/2045 | &nbsp;&nbsp; 464323 |
| &nbsp;&nbsp; 500000 | Centre County, PA Hospital Authority (Mount Nittany Medical Center), Hospital Revenue Bonds (Series 2018A), <br> 5.000%, 11/15/2042<br>| &nbsp;&nbsp; 500209 |
| &nbsp;&nbsp; 500000 | Centre County, PA, UT GO Bonds (Series 2022), 5.000%, 7/1/2035 | &nbsp;&nbsp; 535633 |
| &nbsp;&nbsp; 1250000 | Chester County, PA IDA (Avon Grove Charter School), Revenue Bonds (Series 2017A), (Original Issue Yield: 4.820%), <br> 4.750%, 12/15/2037<br>| &nbsp;&nbsp; 1234600 |
| &nbsp;&nbsp; 1250000 | Clairton, PA Municipal Authority, Sewer Revenue Bonds (Series 2024B), (Original Issue Yield: 4.680%), 4.375%, 12/1/2042 | &nbsp;&nbsp; 1172881 |
| &nbsp;&nbsp; 625000 | Coatesville, PA School District, UT GO Bonds (Series 2025), (Pennsylvania School District Intercept Program GTD), <br> 5.250%, 11/15/2040<br>| &nbsp;&nbsp; 661088 |
| &nbsp;&nbsp; 3000000 | Commonwealth Financing Authority of PA, Tobacco Master Settlement Payment Revenue Bonds (Series 2018), (Original Issue <br> Yield: 4.035%), (Assured Guaranty, Inc. INS), 4.000%, 6/1/2039<br>| &nbsp;&nbsp; 2758690 |
| &nbsp;&nbsp; 2000000 | Commonwealth of Pennsylvania, UT GO Bonds (2nd Series 2016), 5.000%, 9/15/2026 | &nbsp;&nbsp; 2054697 |
| &nbsp;&nbsp; 1000000 | Commonwealth of Pennsylvania, UT GO Bonds (Series 2023), 4.000%, 9/1/2043 | &nbsp;&nbsp; 946013 |
| &nbsp;&nbsp; 305000 | Cumberland County, PA Municipal Authority (Diakon Lutheran Social Ministries), Revenue Bonds (Series 2015), <br> 5.000%, 1/1/2038<br>| &nbsp;&nbsp; 301165 |
| &nbsp;&nbsp; 1000000 | Cumberland Valley, PA School District, UT GO Bonds (Series 2025A), (Build America Mutual Assurance LOC), <br> 5.000%, 12/1/2053<br>| &nbsp;&nbsp; 1006903 |
| &nbsp;&nbsp; 1700000 | Delaware County, PA Authority (Haverford College), Revenue Bonds (Series 2017A), 5.000%, 10/1/2042 | &nbsp;&nbsp; 1708442 |
| &nbsp;&nbsp; 1250000 | Delaware County, PA Regional Water Quality Control Authority, Sewer Revenue Bonds (Series 2015), 5.000%, 5/1/2040 | &nbsp;&nbsp; 1251127 |
| &nbsp;&nbsp; 1250000 | Delaware County, PA, UT GO Bonds (Series 2024), 5.000%, 8/1/2046 | &nbsp;&nbsp; 1282413 |
| &nbsp;&nbsp; 1130000 | Delaware River Port Authority, Revenue Bonds (Series 2018A), 5.000%, 1/1/2033 | &nbsp;&nbsp; 1192070 |
| &nbsp;&nbsp; 250000 | Delaware River Port Authority, Revenue Bonds (Series 2018A), 5.000%, 1/1/2038 | &nbsp;&nbsp; 259102 |
| &nbsp;&nbsp; 200000 | Delaware River Port Authority, Revenue Bonds (Series 2018A), 5.000%, 1/1/2039 | &nbsp;&nbsp; 206692 |
| &nbsp;&nbsp; 500000 | Delaware River Port Authority, Revenue Bonds (Series 2018A), 5.000%, 1/1/2040 | &nbsp;&nbsp; 514916 |
| &nbsp;&nbsp; 1000000 | Delaware Valley, PA Regional Finance Authority, Local Government Revenue Bonds (Series 2024A), 4.000%, 9/1/2034 | &nbsp;&nbsp; 1022427 |
| &nbsp;&nbsp; 1000000 | Hatboro-Horsham, PA School District, UT GO Bonds (Series 2023A), (Pennsylvania School District Intercept Program GTD), <br> 5.250%, 9/15/2051<br>| &nbsp;&nbsp; 1036597 |
| &nbsp;&nbsp; 1100000 | Lancaster, PA Municipal Authority (Garden Spot Village), Healthcare Facilities Revenue Bonds (Series 2024A), 5.000%, 5/1/2044 | &nbsp;&nbsp; 1091469 |
| &nbsp;&nbsp; 1000000 | Lancaster, PA Municipal Authority (Luthercare), Healthcare Facilities Revenue Bonds (Series 2025), 5.000%, 12/1/2055 | &nbsp;&nbsp; 928914 |
| &nbsp;&nbsp; 1000000 | Lancaster, PA School District, LT GO Bonds (Series 2025A), (Build America Mutual Assurance INS), 5.000%, 6/1/2035 | &nbsp;&nbsp; 1094408 |
| &nbsp;&nbsp; 500000 | Lower Merion, PA School District, LT GO Bonds (Series 2020), 4.000%, 11/15/2031 | &nbsp;&nbsp; 513135 |

---

**1**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Pennsylvania—continued** |  |
| $1385000 | Mechanicsburg Penn Area School District, UT GO Bonds (Series AA), (Pennsylvania School District Intercept Program GTD), <br> 4.000%, 5/15/2050<br>| &nbsp;&nbsp; $1203543 |
| &nbsp;&nbsp; 1000000 | Middletown, PA Area School District, LT GO Bonds (Series 2024), (Build America Mutual Assurance INS), 5.000%, 3/1/2041 | &nbsp;&nbsp; 1035291 |
| &nbsp;&nbsp; 1260000 | Monroe County, PA, UT GO Bonds (Series 2021A), 4.000%, 7/15/2036 | &nbsp;&nbsp; 1262991 |
| &nbsp;&nbsp; 1000000 | Montgomery County, PA IDA (ACTS Retirement Life Communities, Inc.), Retirement Communities Revenue Bonds <br> (Series 2025A), 5.000%, 11/15/2049<br>| &nbsp;&nbsp; 961028 |
| &nbsp;&nbsp; 1125000 | Montgomery County, PA IDA (Constellation Energy Generation LLC), Revenue Refunding Bonds (Series 2023A), 4.100%, <br> Mandatory Tender 4/3/2028<br>| &nbsp;&nbsp; 1138718 |
| &nbsp;&nbsp; 1000000 | Moon Area, PA School District, GO Bonds (Series 2024B), (Original Issue Yield: 4.100%), (Pennsylvania School District Intercept <br> Program GTD), 4.000%, 11/15/2049<br>| &nbsp;&nbsp; 860031 |
| &nbsp;&nbsp; 1000000 | Mount Lebanon, PA Hospital Authority (St. Clair Memorial Hospital), Hospital Revenue Bonds (Series 2018), 5.000%, 7/1/2038 | &nbsp;&nbsp; 1018365 |
| &nbsp;&nbsp; 750000 | Northampton County, PA General Purpose Authority (Lehigh University), Higher Education Revenue Bonds (Series 2024A), <br> 5.000%, 11/15/2034<br>| &nbsp;&nbsp; 848826 |
| &nbsp;&nbsp; 1000000 | Northampton County, PA General Purpose Authority (St. Luke's University Health Network), Hospital Revenue Bonds <br> (Series 2016A), 4.000%, 8/15/2040<br>| &nbsp;&nbsp; 911249 |
| &nbsp;&nbsp; 1000000 | Northampton County, PA General Purpose Authority (St. Luke's University Health Network), Hospital Revenue Bonds <br> (Series 2018A), (Original Issue Yield: 4.090%), 4.000%, 8/15/2048<br>| &nbsp;&nbsp; 832561 |
| &nbsp;&nbsp; 1000000 | Parkland, PA School District, LT GO Bonds (Series 2025), 5.000%, 2/1/2049 | &nbsp;&nbsp; 1020379 |
| &nbsp;&nbsp; 500000<br><sup>1</sup> <br>| Pennsylvania Economic Development Financing Authority (Core Natural Resources, Inc.), Solid Waste Disposal Facility Revenue <br> Bonds (Series 2025), 5.450%, Mandatory Tender 3/27/2035<br>| &nbsp;&nbsp; 496698 |
| &nbsp;&nbsp; 1000000 | Pennsylvania Economic Development Financing Authority (National Gypsum Co.), Exempt Facilities Refunding Revenue Bonds <br> (Series 2014), 5.500%, 11/1/2044<br>| &nbsp;&nbsp; 1000708 |
| &nbsp;&nbsp; 2000000 | Pennsylvania Economic Development Financing Authority (Pennsylvania Rapid Bridge Replacement), Tax-Exempt Private <br> Activity Revenue Bonds (Series 2015), 5.000%, 6/30/2042<br>| &nbsp;&nbsp; 1941237 |
| &nbsp;&nbsp; 1000000 | Pennsylvania Economic Development Financing Authority (The Penndot Major Bridges Package One Project), Revenue Bonds <br> (Series 2022), (Original Issue Yield: 5.080%), (Assured Guaranty, Inc. INS), 5.000%, 12/31/2057<br>| &nbsp;&nbsp; 962132 |
| &nbsp;&nbsp; 1000000 | Pennsylvania Economic Development Financing Authority (The Penndot Major Bridges Package One Project), Revenue Bonds <br> (Series 2022), (Original Issue Yield: 5.080%), 6.000%, 6/30/2061<br>| &nbsp;&nbsp; 1037913 |
| &nbsp;&nbsp; 1000000 | Pennsylvania Economic Development Financing Authority (The Penndot Major Bridges Package One Project), Revenue Bonds <br> (Series 2022), 5.750%, 6/30/2048<br>| &nbsp;&nbsp; 1017064 |
| &nbsp;&nbsp; 1000000 | Pennsylvania Economic Development Financing Authority (Villanova University), Revenue Bonds (Series 2024), (Original Issue <br> Yield: 4.140%), 4.000%, 8/1/2054<br>| &nbsp;&nbsp; 854620 |
| &nbsp;&nbsp; 920000 | Pennsylvania HFA, Single Family Mortgage Revenue Bonds (Series 2023-142A), 5.500%, 10/1/2053 | &nbsp;&nbsp; 966610 |
| &nbsp;&nbsp; 1000000 | Pennsylvania State Economic Development Financing Authority (UPMC Health System), Revenue Bonds (Series 2023A-2), <br> 4.000%, 5/15/2048<br>| &nbsp;&nbsp; 840037 |
| &nbsp;&nbsp; 285000 | Pennsylvania State Economic Development Financing Authority (UPMC Health System), Revenue Bonds (Series 2023A-2), <br> 4.000%, 5/15/2053<br>| &nbsp;&nbsp; 231248 |
| &nbsp;&nbsp; 1000000 | Pennsylvania State Economic Development Financing Authority (UPMC Health System), Revenue Bonds (Series 2025A), <br> 5.000%, Mandatory Tender 3/15/2035<br>| &nbsp;&nbsp; 1049610 |
| &nbsp;&nbsp; 2000000 | Pennsylvania State Higher Education Facilities Authority (Thomas Jefferson University Obligated Group), Revenue Bonds <br> (Series 2024B-1), (Assured Guaranty, Inc. INS), 5.250%, 11/1/2048<br>| &nbsp;&nbsp; 2050373 |
| &nbsp;&nbsp; 500000 | Pennsylvania State Higher Education Facilities Authority (University of Pennsylvania), Revenue Bonds (Series 2025A), <br> 5.000%, 2/15/2055<br>| &nbsp;&nbsp; 509850 |
| &nbsp;&nbsp; 1500000 | Pennsylvania State Turnpike Commission, Oil Franchise Tax Subordinate Revenue Refunding Bonds (Series 2021B), <br> 4.000%, 12/1/2053<br>| &nbsp;&nbsp; 1282989 |
| &nbsp;&nbsp; 1250000 | Pennsylvania State Turnpike Commission, Subordinate Revenue Bonds (Series 2019A), 5.000%, 12/1/2044 | &nbsp;&nbsp; 1260209 |
| &nbsp;&nbsp; 1000000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2015B), 5.000%, 12/1/2045 | &nbsp;&nbsp; 1000819 |
| &nbsp;&nbsp; 400000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2022B), 5.000%, 12/1/2036 | &nbsp;&nbsp; 435365 |
| &nbsp;&nbsp; 500000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2022B), 5.000%, 12/1/2037 | &nbsp;&nbsp; 539971 |
| &nbsp;&nbsp; 1000000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2024), 5.000%, 12/1/2043 | &nbsp;&nbsp; 1036196 |
| &nbsp;&nbsp; 500000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2025A), 5.250%, 12/1/2055 | &nbsp;&nbsp; 517057 |
| &nbsp;&nbsp; 1000000 | Pennsylvania State University, Revenue Bonds (Series 2024), 5.250%, 9/1/2054 | &nbsp;&nbsp; 1038347 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA Airport System, Airport Revenue and Refunding Bonds (Series 2017A), 5.000%, 7/1/2047 | &nbsp;&nbsp; 993718 |
| &nbsp;&nbsp; 1135000 | Philadelphia, PA Authority for Industrial Development (PresbyHomes Germantown/Morrisville), Senior Living Revenue Bonds <br> (Series 2005A), 5.625%, 7/1/2035<br>| &nbsp;&nbsp; 1157133 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA Authority for Industrial Development (The Children's Hospital of Philadelphia), Hospital Revenue Bonds <br> (Series 2024A), 5.500%, 7/1/2053<br>| &nbsp;&nbsp; 1054600 |

---

**2**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Pennsylvania—continued** |  |
| $1250000 | Philadelphia, PA Gas Works Co., Gas Works Revenue Bonds (Seventeenth Series A), (Assured Guaranty, Inc. INS), <br> 5.250%, 8/1/2054<br>| &nbsp;&nbsp; $1290762 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA School District, LT GO Bonds (Series 2018B), (Pennsylvania School District Intercept Program GTD), <br> 5.000%, 9/1/2043<br>| &nbsp;&nbsp; 1009954 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA Water & Wastewater System, Water and Wastewater Revenue Bonds (Series 2019B), 5.000%, 11/1/2054 | &nbsp;&nbsp; 991540 |
| &nbsp;&nbsp; 1500000 | Philadelphia, PA Water & Wastewater System, Water and Wastewater Revenue Bonds (Series 2023B), (Assured Guaranty, Inc. <br> INS), 5.500%, 9/1/2053<br>| &nbsp;&nbsp; 1576598 |
| &nbsp;&nbsp; 500000 | Philadelphia, PA, GO Bonds (Series 2019B), 5.000%, 2/1/2039 | &nbsp;&nbsp; 514014 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA, UT GO Bonds (Series 2017A), 5.000%, 8/1/2033 | &nbsp;&nbsp; 1029293 |
| &nbsp;&nbsp; 655000 | Pittsburgh & Allegheny County, PA Sports & Exhibition Authority Parking System, Parking System Revenue Bonds <br> (Series 2017), 5.000%, 12/15/2037<br>| &nbsp;&nbsp; 664908 |
| &nbsp;&nbsp; 390000 | Pittsburgh, PA Public Parking Authority, Parking System Revenue Refunding Bonds (Series 2015A), (United States Treasury PRF <br> 6/1/2025@100), 5.000%, 12/1/2025<br>| &nbsp;&nbsp; 390000 |
| &nbsp;&nbsp; 610000 | Pittsburgh, PA Public Parking Authority, Parking System Revenue Refunding Bonds (Series 2015A), 5.000%, 12/1/2025 | &nbsp;&nbsp; 610655 |
| &nbsp;&nbsp; 1200000 | Pittsburgh, PA Water & Sewer Authority, Water and Sewer System First Lien Revenue Bonds (Series 2023A), (Assured Guaranty, <br> Inc. INS), 4.250%, 9/1/2053<br>| &nbsp;&nbsp; 1058270 |
| &nbsp;&nbsp; 1000000 | Pittsburgh, PA Water & Sewer Authority, Water and Sewer System First Lien Revenue Bonds (Series 2025A), (Assured Guaranty, <br> Inc. INS), 5.250%, 9/1/2050<br>| &nbsp;&nbsp; 1041564 |
| &nbsp;&nbsp; 1000000 | Ridley, PA School District, LT GO Bonds (Series 2024A), (Assured Guaranty, Inc. INS), 5.000%, 11/15/2050 | &nbsp;&nbsp; 995828 |
| &nbsp;&nbsp; 1000000 | Scranton, PA School District, GO Bonds (Series 2017E), (Build America Mutual Assurance INS), 5.000%, 12/1/2035 | &nbsp;&nbsp; 1028597 |
| &nbsp;&nbsp; 2000000 | St. Mary Hospital Authority, PA (Trinity Healthcare Credit Group), Revenue Refunding Bonds (Series 2012B), <br> 5.000%, 11/15/2027<br>| &nbsp;&nbsp; 2091795 |
| &nbsp;&nbsp; 1340000 | State College Area School District, PA, GO Bonds (Series 2018), (Pennsylvania School District Intercept Program GTD), <br> 5.000%, 5/15/2044<br>| &nbsp;&nbsp; 1362347 |
| &nbsp;&nbsp; 1000000 | Tredyffrin-Easttown, PA School District, UT GO Bonds (Series 2024), (Pennsylvania School District Intercept Program GTD), <br> 5.000%, 2/15/2043<br>| &nbsp;&nbsp; 1045865 |
| &nbsp;&nbsp; 500000 | University of Pittsburgh, University Capital Project Bonds (Series 2023A), 5.000%, 2/15/2034 | &nbsp;&nbsp; 561007 |
| &nbsp;&nbsp; 1000000 | Upper St Clair TWP PA School District, UT GO Bonds (Series 2025), 4.000%, 10/1/2043 | &nbsp;&nbsp; 942055 |
| &nbsp;&nbsp; 1000000 | Westmoreland County, PA Municipal Authority, Municipal Service Revenue Bonds (Series 2025), (Assured Guaranty, Inc. INS), <br> 5.000%, 8/15/2049<br>| &nbsp;&nbsp; 1011803 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp; 90725741 |
|  | **Puerto Rico—4.8%** |  |
| &nbsp;&nbsp; 2000000 | Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 4.000%, 7/1/2037 | &nbsp;&nbsp; 1846601 |
| &nbsp;&nbsp; 1000000 | Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 4.000%, 7/1/2041 | &nbsp;&nbsp; 856445 |
| &nbsp;&nbsp; 1000000 | Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A), (Original Issue Yield: 5.154%), <br> 5.000%, 7/1/2058<br>| &nbsp;&nbsp; 937947 |
| &nbsp;&nbsp; 1000000 | Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A-1), 4.750%, 7/1/2053 | &nbsp;&nbsp; 914303 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 4555296 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL MUNICIPAL BONDS <br>(IDENTIFIED COST $98,602,619)<br>| &nbsp;&nbsp; 95281037 |
| <sup>2</sup> <br>| SHORT-TERM MUNICIPALS—0.2% |  |
|  | **Pennsylvania—0.2%** |  |
| &nbsp;&nbsp; 100000 | Lancaster County, PA Hospital Authority (Masonic Villages), (Series D of 2008) Daily VRDNs, (JPMorgan Chase Bank, N.A. <br> LOC), 3.000%, 6/2/2025<br>| &nbsp;&nbsp; 100000 |
| &nbsp;&nbsp; 100000 | Southcentral PA, General Authority (Wellspan Health Obligated Group), (Series 2019E) Daily VRDNs, (U.S. Bank, N.A. LIQ), <br> 2.850%, 6/2/2025<br>| &nbsp;&nbsp; 100000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SHORT-TERM MUNICIPALS <br>(IDENTIFIED COST $200,000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT IN SECURITIES—99.4% <br>(IDENTIFIED COST $98,802,619)<br>| &nbsp;&nbsp; 95481037 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OTHER ASSETS AND LIABILITIES - NET—0.6%<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 585427 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NET ASSETS—100% | &nbsp;&nbsp; $96066464 |

---

**3**

------

Securities that are subject to the federal alternative minimum tax (AMT) represent 9.6% of the Fund's portfolio as calculated based upon total market value.

---

| | |
|:---|:---|
| 1 | *Denotes a restricted security that either: (a) cannot be offered for public sale without first being registered, or availing of an exemption from registration, under* <br> *the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At May 31, 2025, these restricted securities amounted to $978,781, which* <br> *represented 1.0% of net assets.*<br>|

---

Additional information on restricted securities held at May 31, 2025, is as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Acquisition** <br>**Date**<br>| **Cost** | **Value** |
| Allentown, PA Neighborhood Improvement Zone Development Authority, City Center Project Tax Revenue Bonds <br> (Series 2024), 5.000%, 5/1/2042<br>| &nbsp;&nbsp; 1/18/2024 | &nbsp;&nbsp; $500000 | &nbsp;&nbsp; $482083 |
| Pennsylvania Economic Development Financing Authority (Core Natural Resources, Inc.), Solid Waste Disposal Facility <br> Revenue Bonds (Series 2025), 5.450%, Mandatory Tender 3/27/2035<br>| &nbsp;&nbsp; 3/20/2025 | &nbsp;&nbsp; $500000 | &nbsp;&nbsp; $496698 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| 2 | *Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are* <br> *not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do* <br> *not indicate a reference rate and spread in their description above.*<br>|
| 3 | *Assets, other than investments in securities, less liabilities.* |

---

Note: The categories of investments are shown as a percentage of net assets at May 31, 2025.

**Investment Valuation** 

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

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

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

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

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

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

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

**Fair Valuation Procedures** 

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, the Fund's Board of Trustees (the "Trustees") has designated the Adviser as the Fund's valuation designee to perform any fair value determinations for securities and other assets held by the Fund. The Adviser is subject to the Trustees' oversight and certain reporting and other requirements intended to provide the Trustees the information needed to oversee the Adviser's fair value determinations.

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

Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a "bid" evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between

**4**

------

the prices bid and ask for the investment (a "mid" evaluation). The Fund normally uses bid evaluations for any U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for any other types of fixed-income securities and any OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Adviser.

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

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

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

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

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

As of May 31, 2025, all investments of the Fund utilized Level 2 inputs in valuing the Fund's assets carried at fair value.

---

| | |
|:---|:---|
| The following acronym(s) are used throughout this portfolio: | The following acronym(s) are used throughout this portfolio: |
| GO | —General Obligation |
| GTD | —Guaranteed |
| HFA | —Housing Finance Authority |
| IDA | —Industrial Development Authority |
| INS | —Insured |
| LIQ | —Liquidity Agreement |
| LOC | —Letter of Credit |
| LT | —Limited Tax |
| PRF | —Pre-refunded |
| UT | —Unlimited Tax |
| VRDNs | —Variable Rate Demand Notes |

---

**5**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

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

  - **Telephone number:** 8003417400

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

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

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

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

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $96839639.55

**Total Liabilities:** $773175.89

**Net Assets:** $96066463.66

**Delayed Delivery Securities:** $662081.25

**Cash Not Reported:** $46209.71

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -139.785641800000 | **1-Year:** -4063.405655400000 | **5-Year:** -13513.106885900000 | **10-Year:** -35226.017938600000 | **30-Year:** -13151.292298000000

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

- **3-Month:** -5.899929500000 | **1-Year:** -174.086377100000 | **5-Year:** -871.548240700000 | **10-Year:** -2893.194702100000 | **30-Year:** -775.484573400000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000024704 | -1.72%               | -1.04%               | -0.44%               |
| Class ID C000219237 | -1.80%               | -0.92%               | -0.42%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-372515.88              | $-1661887.78                               |
| Month 2  | $-114571.75              | $-1136092.47                               |
| Month 3  | $-0.04                   | $-721257.78                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NORTHAMPTON CNTY PA GEN PURPOS | Northampton County General Purpose Authority                            | CUSIP: 66353RCC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $911248.70    | 0.95%             | 2040-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR | Allegheny County Airport Authority                                      | CUSIP: 01728LKY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043788.50   | 1.09%             | 2050-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RIDLEY PA SCH DIST AUTH SCH RE | Ridley School District                                                  | CUSIP: 766360BE0<br>LEI: 549300YUHUQO2URNGZ44 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995827.60    | 1.04%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MECHANICSBURG PA AREA SCH DIST | Mechanicsburg Area School District                                      | CUSIP: 583726WP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1203543.26   | 1.25%             | 2050-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA | Pennsylvania Higher Educational Facilities Authority                    | CUSIP: 70917TTD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509849.70    | 0.53%             | 2055-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CMWLTH FING AUTH PA TOBACCO MA | COMMONWEALTH FINANCING AUTHORITY                                        | CUSIP: 20282EAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2758690.20   | 2.87%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1846601.20   | 1.92%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission Oil Franchise Tax Revenue              | CUSIP: 709221WV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1282988.85   | 1.34%             | 2053-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE COLLEGE PA AREA SCH DIST | State College Area School District/PA                                   | CUSIP: 856706ZD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1362346.91   | 1.42%             | 2044-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHCENTRL PA GEN AUTH REVENU | General Authority of Southcentral Pennsylvania                          | CUSIP: 84129NML0<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.10%             | 2035-06-01      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HGR EDU BLDG | Allegheny County Higher Education Building Authority                    | CUSIP: 01728RMX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $554104.98    | 0.58%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH & ALLEGHENY CNTY PA | SPORTS & EXHIBITION AUTHORITY OF PITTSBURGH AND ALLEGHENY COUNTY        | CUSIP: 724792BP0<br>LEI: 254900JJT7A9Y409G258 | Long             | DBT              | MUN               | US        |    655000 | PA      | $664907.60    | 0.69%             | 2037-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER MERION PA SCH DIST       | Lower Merion School District                                            | CUSIP: 548246MY0<br>LEI: 549300HKI8OJC5YHIM72 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513135.40    | 0.53%             | 2031-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA PUBLIC PKG AUTH  | Public Parking Authority Of Pittsburgh                                  | CUSIP: 725259MQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $390000.00    | 0.41%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70870JGX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049610.10   | 1.09%             | 2060-03-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                   | CUSIP: 61360PCZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $961028.00    | 1.00%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST       | SCHOOL DISTRICT OF PHILADELPHIA/THE                                     | CUSIP: 717883VH2<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009954.00   | 1.05%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | Lancaster County Hospital Authority/PA                                  | CUSIP: 514045ZG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.10%             | 2034-07-01      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| CENTRE CNTY PA                 | County of Centre PA                                                     | CUSIP: 156267MD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $535632.90    | 0.56%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70870JFN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $231247.60    | 0.24%             | 2053-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ADAMS CNTY PA GEN AUTH REV     | Adams County General Authority                                          | CUSIP: 006114AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $918312.10    | 0.96%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUT | Allegheny County Hospital Development Authority                         | CUSIP: 01728A4A1<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1949832.20   | 2.03%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA MUNI AUTH HLTHCAR | LANCASTER MUNI AUTH- 5.0                                                | CUSIP: 514350AS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $928914.30    | 0.97%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA SCH DIST          | Lancaster School District                                               | CUSIP: 514383YB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094407.90   | 1.14%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND VLY PA SCH DIST     | Cumberland Valley School District                                       | CUSIP: 230822UT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006903.10   | 1.05%             | 2053-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70868YAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017064.50   | 1.06%             | 2048-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DELAWARE RIVER PORT AUTH PA &  | Delaware River Port Authority                                           | CUSIP: 246352HC5<br>LEI: 549300OBM31KJO8JR048 | Long             | DBT              | MUN               | US        |    200000 | PA      | $206692.40    | 0.22%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                | Commonwealth of Pennsylvania                                            | CUSIP: 70914P2S0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $946013.00    | 0.98%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                   | CUSIP: 708692CA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496697.80    | 0.52%             | 2051-01-01      | Variable      | 5.45%                 | Yes           |                  2 | On Loan: No      |
| MOUNT LEBANON PA HOSP AUTH     | Mount Lebanon Hospital Authority                                        | CUSIP: 621820DF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018365.40   | 1.06%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BETHLEHEM PA AREA SCH DIST     | BETHLEHEM ASD 5 10/43                                                   | CUSIP: 087365XX5<br>LEI: 549300PVLLD0D81XYN53 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031331.40   | 1.07%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE RIVER PORT AUTH PA &  | Delaware River Port Authority                                           | CUSIP: 246352HB7<br>LEI: 549300OBM31KJO8JR048 | Long             | DBT              | MUN               | US        |    250000 | PA      | $259101.70    | 0.27%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 709225GC4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    400000 | PA      | $435364.84    | 0.45%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                | City of Philadelphia PA                                                 | CUSIP: 717813XP9<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    500000 | PA      | $514013.60    | 0.54%             | 2039-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCRANTON PA SCH DIST           | SCRANTON SCHOOL DISTRICT/PA                                             | CUSIP: 810827XH3<br>LEI: 549300SDNGI3OKNOUW62 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028596.60   | 1.07%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE VLY PA REGL FIN AUTH  | Delaware Valley Regional Finance Authority                              | CUSIP: 246579LX2<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022426.60   | 1.06%             | 2034-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA REGL WTR QUAL | DELAWARE COUNTY REGIONAL WATER QUALITY CONTROL AUTHORITY                | CUSIP: 246045MN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1251126.75   | 1.30%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | Philadelphia Authority for Industrial Development                       | CUSIP: 717901CB6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054600.50   | 1.10%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURPOS | Northampton County General Purpose Authority                            | CUSIP: 663507DH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $848826.30    | 0.88%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPPER SAINT CLAIR TWP PA SCH D | Upper St Clair Township School District                                 | CUSIP: 916507UG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $942055.10    | 0.98%             | 2043-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY PA                 | County of Monroe PA                                                     | CUSIP: 610767UE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1262990.74   | 1.31%             | 2036-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL DAUPHIN PA SCH DIST    | Central Dauphin School District                                         | CUSIP: 153300YT9<br>LEI: 549300B7BTSSV63QDZ15 | Long             | DBT              | MUN               | US        |    450000 | PA      | $464322.74    | 0.48%             | 2045-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70869PQC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $854620.50    | 0.89%             | 2054-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT                       | CUSIP: 717824AL0<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1157133.18   | 1.20%             | 2035-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA GAS WKS REVENU | Philadelphia Gas Works Co                                               | CUSIP: 71783MDF9<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1290761.75   | 1.34%             | 2054-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH  | CHESTER CO INDL DEV-A                                                   | CUSIP: 165588DP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1234600.38   | 1.29%             | 2037-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | PENNSYLVANIA TURNPIKE COMMISSION                                        | CUSIP: 709224KX6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000818.60   | 1.04%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF | Pennsylvania Housing Finance Agency                                     | CUSIP: 70879QUA9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    920000 | PA      | $966609.68    | 1.01%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAINT MARY HOSP AUTH PA HLTH S | St Mary Hospital Authority                                              | CUSIP: 85230MDN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2091794.60   | 2.18%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRE CNTY PA HOSP AUTH       | CENTRE COUNTY HOSPITAL AUTHORITY                                        | CUSIP: 156273HD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500209.45    | 0.52%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIDDLETOWN PA SCH DIST         | Middletown Area School District                                         | CUSIP: 597212RP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035290.80   | 1.08%             | 2041-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH   | Pittsburgh Water & Sewer Authority                                      | CUSIP: 725304ZP7<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041563.80   | 1.08%             | 2050-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 709225GD2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    500000 | PA      | $539971.50    | 0.56%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA              | ALLEGHENY CNTY-C7 5 11/43                                               | CUSIP: 01728VUF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016101.60   | 1.06%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                   | CUSIP: 61361TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1138717.69   | 1.19%             | 2053-04-01      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA SAN AUTH     | Allegheny County Sanitary Authority                                     | CUSIP: 017357R63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1270287.88   | 1.32%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLAIRTON PA MUNI AUTH SWR REVE | Clairton Municipal Authority                                            | CUSIP: 179630DN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1172881.50   | 1.22%             | 2042-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70868YAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $962132.20    | 1.00%             | 2057-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURPOS | NORTHAMPTON CO AUTH                                                     | CUSIP: 66353RCF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $832561.00    | 0.87%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT | Allentown Neighborhood Improvement Zone Development Authority           | CUSIP: 018444CC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $482082.90    | 0.50%             | 2042-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CAPITAL REGION WTR PA WTR REVE | CAPITAL REGION WATER                                                    | CUSIP: 14045AAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047534.40   | 1.09%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $856444.70    | 0.89%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COATESVILLE PA AREA SCH DIST   | Coatesville School District                                             | CUSIP: 190684QW3<br>LEI: 549300FB4I8E5MPRFX97 | Long             | DBT              | MUN               | US        |    625000 | PA      | $661088.38    | 0.69%             | 2040-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REVENUE   | City of Philadelphia PA Airport Revenue                                 | CUSIP: 717817TP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $993717.70    | 1.03%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA PUBLIC PKG AUTH  | Public Parking Authority Of Pittsburgh                                  | CUSIP: 725259MW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $610654.59    | 0.64%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTMORELAND CNTY PA MUNI AUTH | Westmoreland County Municipal Authority                                 | CUSIP: 961017SH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011803.30   | 1.05%             | 2049-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA MUNI AUTH HLTHCAR | Lancaster Municipal Authority                                           | CUSIP: 514350AL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1091468.62   | 1.14%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 709224P52<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1260208.63   | 1.31%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70868YAY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037913.00   | 1.08%             | 2061-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WSTWTR R | City of Philadelphia PA Water & Wastewater Revenue                      | CUSIP: 7178932Y6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1576597.80   | 1.64%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $914303.00    | 0.95%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FINGA | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY                   | CUSIP: 708686DZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000708.20   | 1.04%             | 2044-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR | Allegheny County Airport Authority                                      | CUSIP: 01728LHD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036164.00   | 1.08%             | 2048-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 709225LH7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036196.40   | 1.08%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOON PA AREA SCH DIST          | Moon Area School District                                               | CUSIP: 615401QX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $860031.20    | 0.90%             | 2049-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 709225NY8<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517057.40    | 0.54%             | 2055-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BETHLEHEM PA AREA SCH DIST     | Bethlehem Area School District                                          | CUSIP: 087365YJ5<br>LEI: 549300PVLLD0D81XYN53 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085375.80   | 1.13%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE RIVER PORT AUTH PA &  | Delaware River Port Authority                                           | CUSIP: 246352HD3<br>LEI: 549300OBM31KJO8JR048 | Long             | DBT              | MUN               | US        |    500000 | PA      | $514916.50    | 0.54%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH   | Pittsburgh Water & Sewer Authority                                      | CUSIP: 725304YB9<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1058269.68   | 1.10%             | 2053-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA               | County of Delaware PA                                                   | CUSIP: 246001A50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1282412.63   | 1.33%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HATBORO-HORSHAM PA SCH DIST    | Hatboro-Horsham School District                                         | CUSIP: 418780TB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036597.30   | 1.08%             | 2051-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70870JFM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $840036.70    | 0.87%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PARKLAND PA SCH DIST           | Parkland School District                                                | CUSIP: 701383G62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020379.20   | 1.06%             | 2049-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH   | Cumberland County Municipal Authority                                   | CUSIP: 230614TH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $301164.53    | 0.31%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF PITTSBURGH PA OF THE C | University of Pittsburgh-of the Commonwealth System of Higher Education | CUSIP: 91335VKX3<br>LEI: 5493002C83QSGL8ETT42 | Long             | DBT              | MUN               | US        |    500000 | PA      | $561007.05    | 0.58%             | 2034-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                | CITY OF PHILADELPHIA PA                                                 | CUSIP: 717813VS5<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029292.70   | 1.07%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA AUTH          | DELAWARE COUNTY AUTHORITY                                               | CUSIP: 246003NF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1708441.52   | 1.78%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE RIVER PORT AUTH PA &  | Delaware River Port Authority                                           | CUSIP: 246352GW2<br>LEI: 549300OBM31KJO8JR048 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1192070.34   | 1.24%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                | COMMONWEALTH OF PENNSYLVANIA                                            | CUSIP: 70914PE24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2054696.60   | 2.14%             | 2026-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TREDYFFRIN-EASTTOWN PA SCH DIS | Tredyffrin Easttown School District                                     | CUSIP: 894673UV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045864.90   | 1.09%             | 2043-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $937947.60    | 0.98%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WSTWTR R | City of Philadelphia PA Water & Wastewater Revenue                      | CUSIP: 717893N64<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $991540.30    | 1.03%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA | Pennsylvania Higher Educational Facilities Authority                    | CUSIP: 70917TRU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2050372.60   | 2.13%             | 2048-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA              | County of Allegheny PA                                                  | CUSIP: 01728VWU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507794.10    | 0.53%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY                   | CUSIP: 70869PHX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1941237.20   | 2.02%             | 2042-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH    | BUCKS CNTY PA IND 5 10/37                                               | CUSIP: 118612MV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1460777.42   | 1.52%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST UNIV           | Pennsylvania State University/The                                       | CUSIP: 7092353J2<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038347.30   | 1.08%             | 2054-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-22

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

**Signature:** Stephen Van Meter

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

**Title:** Chief Compliance Officer