# EDGAR Filing Document

**Accession Number:** 0000778365
**File Stem:** 0001752724-25-161295
**Filing Date:** 2025-6
**Character Count:** 77476
**Document Hash:** 17726b72abbfcb3ea876b25dbce147ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-161295.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001752724-25-161295

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eaton Vance Municipals Trust
- **CENTRAL INDEX KEY:** 0000778365

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04409
- **FILM NUMBER:** 251083044

**BUSINESS ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109
- **BUSINESS PHONE:** 617-482-8260

**MAIL ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EATON VANCE MUNICIPALS TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EATON VANCE HIGH YIELD MUNICIPALS TRUST
- **DATE OF NAME CHANGE:** 19910203

## Series and Classes Contracts Data

### Eaton Vance Pennsylvania Municipal Income Fund (Series ID: S000004853)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000013145 | Eaton Vance Pennsylvania Municipal Income Fund Class A | ETPAX           |
| C000013147 | Eaton Vance Pennsylvania Municipal Income Fund Class C | ECPAX           |
| C000063951 | Eaton Vance Pennsylvania Municipal Income Fund Class I | EIPAX           |

## Nport-Ex

Eaton Vance<br>

Pennsylvania Municipal Income Fund

April 30, 2025

Portfolio of Investments (Unaudited)

------

Tax-Exempt Municipal Obligations — 98.4%

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Bond Bank — 3.2% | Bond Bank — 3.2% | Bond Bank — 3.2% |
| Delaware Valley Regional Finance Authority, PA, 5.75%, 7/1/32 | $4500 | &nbsp;&nbsp;$5087365 |
|  |  | &nbsp;&nbsp;**$5087365** |
| Cogeneration — 0.4% | Cogeneration — 0.4% | Cogeneration — 0.4% |
| Northampton County Industrial Development Authority, PA, (Northampton Generating), (AMT), 5.00%, 6/30/27<sup>(1)</sup> | $1323 | &nbsp;&nbsp;$582311 |
|  |  | &nbsp;&nbsp;**$582311** |
| Education — 12.0% | Education — 12.0% | Education — 12.0% |
| Adams County General Authority, PA, (Gettysburg College), 5.00%, 8/15/50 | $&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;$371750 |
| Bethlehem Redevelopment Authority, PA, (Moravian University): |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 10/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp; 55944 |
| &nbsp;&nbsp;&nbsp;5.25%, 10/1/49 | 1600 | &nbsp;&nbsp;&nbsp;&nbsp; 1612195 |
| Bucks County Industrial Development Authority, PA, (George School), 3.75%, 9/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp; 447042 |
| Delaware County Authority, PA, (Haverford College), 5.00%, 10/1/42 | 1075 | &nbsp;&nbsp;&nbsp;&nbsp; 1082940 |
| Delaware County Authority, PA, (Villanova University), 5.00%, 8/1/45 | 2715 | &nbsp;&nbsp;&nbsp;&nbsp; 2720847 |
| Lehigh County General Purpose Authority, PA, (Lehigh Valley Academy Regional Charter School), 4.00%, 6/1/57 | 3445 | &nbsp;&nbsp;&nbsp;&nbsp; 2675591 |
| Pennsylvania Economic Development Financing Authority, (Villanova University), 4.00%, 8/1/54 | 2935 | &nbsp;&nbsp;&nbsp;&nbsp; 2624183 |
| Pennsylvania Higher Educational Facilities Authority, (Bryn Mawr College), 4.00%, 12/1/48 | 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2260807 |
| Pennsylvania State University, 5.00%, 9/1/49 | 2895 | &nbsp;&nbsp;&nbsp;&nbsp; 2907701 |
| Southcentral Pennsylvania General Authority, (York College of Pennsylvania), 5.00%, 5/1/45 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 990539 |
| University of Pittsburgh, PA, 4.00%, 9/15/44 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1370393 |
|  |  | &nbsp;&nbsp;**$19119932** |
| Electric Utilities — 1.9% | Electric Utilities — 1.9% | Electric Utilities — 1.9% |
| Philadelphia, PA, Gas Works Revenue, 5.00%, 8/1/47 | $3000 | &nbsp;&nbsp;$3010659 |
|  |  | &nbsp;&nbsp;**$3010659** |
| General Obligations — 8.5% | General Obligations — 8.5% | General Obligations — 8.5% |
| Allegheny County, PA: |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 11/1/43 | $1690 | &nbsp;&nbsp;$1724165 |
| &nbsp;&nbsp;&nbsp;5.00%, 12/1/54 | 1985 | &nbsp;&nbsp;&nbsp;&nbsp; 2030541 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| General Obligations (continued) | General Obligations (continued) | General Obligations (continued) |
| Bethel Park School District, PA, 5.25%, 8/1/43 | $2100 | &nbsp;&nbsp;$2255066 |
| Central Bucks School District, PA, 5.00%, 5/15/45<sup>(2)</sup> | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1036863 |
| Central Dauphin School District, PA, 5.00%, 2/1/43 | 1125 | &nbsp;&nbsp;&nbsp;&nbsp; 1186020 |
| Cornwall-Lebanon School District, PA, 4.00%, 2/15/47 | 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1142054 |
| Haverford Township School District, PA, 5.00%, 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 622212 |
| Muhlenberg School District, PA, 5.00%, 5/15/49 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1022113 |
| Parkland School District, PA, 5.00%, 2/1/49 | 1100 | &nbsp;&nbsp;&nbsp;&nbsp; 1133479 |
| Puerto Rico: |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 519991 |
| &nbsp;&nbsp;&nbsp;5.75%, 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 795684 |
|  |  | &nbsp;&nbsp;**$13468188** |
| Hospital — 15.4% | Hospital — 15.4% | Hospital — 15.4% |
| Allegheny County Hospital Development Authority, PA, (Allegheny Health Network Obligated Group): |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 4/1/44 | $1750 | &nbsp;&nbsp;$1538504 |
| &nbsp;&nbsp;&nbsp;5.00%, 4/1/47 | 2220 | &nbsp;&nbsp;&nbsp;&nbsp; 2193836 |
| Centre County Hospital Authority, PA, (Mount Nittany Medical Center): |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016B, 4.00%, 11/15/47 | 1575 | &nbsp;&nbsp;&nbsp;&nbsp; 1395921 |
| &nbsp;&nbsp;&nbsp;Series 2018A, 4.00%, 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 443094 |
| Chester County Health and Education Facilities Authority, PA, (Main Line Health System), 4.00%, 10/1/42 | 1265 | &nbsp;&nbsp;&nbsp;&nbsp; 1173501 |
| Geisinger Authority, PA, (Geisinger Health System): |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 4/1/39 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1919014 |
| &nbsp;&nbsp;&nbsp;5.00%, 2/15/45 | 2150 | &nbsp;&nbsp;&nbsp;&nbsp; 2149898 |
| Lancaster County Hospital Authority, PA, (Penn State Health), 5.00%, 11/1/51 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 990311 |
| Lehigh County General Purpose Authority, PA, (Lehigh Valley Health Network), 4.00%, 7/1/49 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1700553 |
| Montgomery County Higher Education and Health Authority, PA, (Thomas Jefferson University Obligated Group), 5.00%, 5/1/57 | 1930 | &nbsp;&nbsp;&nbsp;&nbsp; 1873881 |
| Pennsylvania Economic Development Financing Authority, (UPMC): |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 11/15/47 | 1975 | &nbsp;&nbsp;&nbsp;&nbsp; 1718537 |
| &nbsp;&nbsp;&nbsp;4.00%, 5/15/53 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 842431 |
| &nbsp;&nbsp;&nbsp;5.00%, 3/15/43 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1009171 |
| Pennsylvania Higher Educational Facilities Authority, (Thomas Jefferson University), 4.375%, 11/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp; 812223 |
| Pennsylvania Higher Educational Facilities Authority, (University of Pennsylvania Health System), 4.00%, 8/15/49 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1757851 |

---

------

Eaton Vance<br>

Pennsylvania Municipal Income Fund

April 30, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Hospital (continued) | Hospital (continued) | Hospital (continued) |
| Philadelphia Authority for Industrial Development, PA, (Children's Hospital of Philadelphia), 4.00%, 7/1/49 | $1965 | &nbsp;&nbsp;$1755065 |
| Southcentral Pennsylvania General Authority, (WellSpan Health Obligated Group), 4.00%, 6/1/49 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1291470 |
|  |  | &nbsp;&nbsp;**$24565261** |
| Housing — 5.2% | Housing — 5.2% | Housing — 5.2% |
| Pennsylvania Housing Finance Agency, (Darby Townhouses), (FNMA), 4.90%, 6/1/41 | $1000 | &nbsp;&nbsp;$1012715 |
| Pennsylvania Housing Finance Agency, SFMR: |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, 10/1/45 | 1350 | &nbsp;&nbsp;&nbsp;&nbsp; 925801 |
| &nbsp;&nbsp;&nbsp;3.50%, 10/1/36 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 914291 |
| &nbsp;&nbsp;&nbsp;Social Bonds, 4.40%, 10/1/38 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 994396 |
| &nbsp;&nbsp;&nbsp;Social Bonds, 4.75%, 10/1/49 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1995156 |
| &nbsp;&nbsp;&nbsp;Social Bonds, 5.00%, 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp; 793602 |
| &nbsp;&nbsp;&nbsp;Social Bonds, 5.45%, 4/1/51 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1549226 |
|  |  | &nbsp;&nbsp;**$8185187** |
| Industrial Development Revenue — 0.9% | Industrial Development Revenue — 0.9% | Industrial Development Revenue — 0.9% |
| Luzerne County Industrial Development Authority, PA, (Pennsylvania-American Water Co.), (AMT), 2.45% to 12/3/29 (Put Date), 12/1/39 | $&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;$665624 |
| Pennsylvania Economic Development Financing Authority, (Covanta), Green Bonds, (AMT), 3.25%, 8/1/39<sup>(3)</sup> | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 790278 |
|  |  | &nbsp;&nbsp;**$1455902** |
| Insured - Education — 0.6% | Insured - Education — 0.6% | Insured - Education — 0.6% |
| State Public School Building Authority, PA, (Delaware County Community College), (BAM), 4.125%, 10/1/48 | $1055 | &nbsp;&nbsp;$957327 |
|  |  | &nbsp;&nbsp;**$957327** |
| Insured - Electric Utilities — 0.7% | Insured - Electric Utilities — 0.7% | Insured - Electric Utilities — 0.7% |
| Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/34 | $1130 | &nbsp;&nbsp;$1090820 |
|  |  | &nbsp;&nbsp;**$1090820** |
| Insured - Escrowed/Prerefunded — 1.4% | Insured - Escrowed/Prerefunded — 1.4% | Insured - Escrowed/Prerefunded — 1.4% |
| McKeesport Area School District, PA, (AMBAC), Escrowed to Maturity, 0.00%, 10/1/25 | $2320 | &nbsp;&nbsp;$2286896 |
|  |  | &nbsp;&nbsp;**$2286896** |
| Insured - General Obligations — 3.9% | Insured - General Obligations — 3.9% | Insured - General Obligations — 3.9% |
| Cambria County, PA, (BAM), 5.00%, 8/1/30 | $1050 | &nbsp;&nbsp;$1051496 |
| Hopewell School District, PA, (AGM), 0.00%, 9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 857714 |
| Lake-Lehman School District, PA, (NPFG), 0.00%, 4/1/26 | 1315 | &nbsp;&nbsp;&nbsp;&nbsp; 1269528 |
| Lancaster School District, PA, (AGM), 4.00%, 6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp; 58976 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Insured - General Obligations (continued) | Insured - General Obligations (continued) | Insured - General Obligations (continued) |
| Middletown Area School District, PA, (BAM), 5.00%, 3/1/45 | $1160 | &nbsp;&nbsp;$1189735 |
| Northern Lebanon School District, PA, (BAM), 3.00%, 9/1/42 | 2245 | &nbsp;&nbsp;&nbsp;&nbsp; 1847910 |
|  |  | &nbsp;&nbsp;**$6275359** |
| Insured - Hospital — 1.9% | Insured - Hospital — 1.9% | Insured - Hospital — 1.9% |
| Northampton County General Purpose Authority, PA, (St. Luke's University Health Network), (AGM), 5.00%, 8/15/49 | $1220 | &nbsp;&nbsp;$1238601 |
| Pennsylvania Higher Educational Facilities Authority, (Thomas Jefferson University), (AGC), 4.25%, 11/1/51 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1845378 |
|  |  | &nbsp;&nbsp;**$3083979** |
| Insured - Housing — 1.4% | Insured - Housing — 1.4% | Insured - Housing — 1.4% |
| Chester County Industrial Development Authority, PA, (University Student Housing LLC), (BAM), 4.00%, 8/1/48 | $2500 | &nbsp;&nbsp;$2194500 |
|  |  | &nbsp;&nbsp;**$2194500** |
| Insured - Transportation — 6.8% | Insured - Transportation — 6.8% | Insured - Transportation — 6.8% |
| Allegheny County Airport Authority, PA, (Pittsburgh International Airport): |  |  |
| &nbsp;&nbsp;&nbsp;(AGC), (AMT), 5.25%, 1/1/44 | $4765 | &nbsp;&nbsp;$4944183 |
| &nbsp;&nbsp;&nbsp;(AGM), (AMT), 5.50%, 1/1/41 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1067481 |
| &nbsp;&nbsp;&nbsp;(AGM), (AMT), 5.50%, 1/1/42 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1061244 |
| Pennsylvania Economic Development Financing Authority, (PennDOT Major Bridges Package One), (AGM), (AMT), 5.50%, 6/30/42 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1566196 |
| Pennsylvania Turnpike Commission, (AGM), 6.375%, 12/1/38 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2126720 |
|  |  | &nbsp;&nbsp;**$10765824** |
| Insured - Water and Sewer — 5.0% | Insured - Water and Sewer — 5.0% | Insured - Water and Sewer — 5.0% |
| Bucks County Water and Sewer Authority, PA, (AGM), 4.25%, 12/1/47 | $&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;$770295 |
| Pittsburgh Water and Sewer Authority, PA, (AGM), 5.50%, 9/1/47 | 4250 | &nbsp;&nbsp;&nbsp;&nbsp; 4526394 |
| Tamaqua Borough Authority, PA, (AGC), 4.00%, 11/15/44 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1371683 |
| Westmoreland County Municipal Authority, PA, (AGC), 5.00%, 8/15/45 | 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1295035 |
|  |  | &nbsp;&nbsp;**$7963407** |
| Lease Revenue/Certificates of Participation — 3.7% | Lease Revenue/Certificates of Participation — 3.7% | Lease Revenue/Certificates of Participation — 3.7% |
| Commonwealth Financing Authority, PA, 5.00%, 6/1/35 | $2950 | &nbsp;&nbsp;$3012479 |

---

------

Eaton Vance<br>

Pennsylvania Municipal Income Fund

April 30, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Lease Revenue/Certificates of Participation (continued) | Lease Revenue/Certificates of Participation (continued) | Lease Revenue/Certificates of Participation (continued) |
| Pennsylvania Economic Development Financing Authority, (Pennsylvania Rapid Bridge Replacement), 5.00%, 12/31/34 | $2920 | &nbsp;&nbsp;$2936445 |
|  |  | &nbsp;&nbsp;**$5948924** |
| Senior Living/Life Care — 6.1% | Senior Living/Life Care — 6.1% | Senior Living/Life Care — 6.1% |
| Adams County General Authority, PA, (The Brethren Home Community), 5.00%, 6/1/54 | $3100 | &nbsp;&nbsp;$2946074 |
| Franklin County Industrial Development Authority, PA, (Menno-Haven, Inc.): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;&nbsp; 811590 |
| &nbsp;&nbsp;&nbsp;5.00%, 12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp; 452168 |
| &nbsp;&nbsp;&nbsp;5.00%, 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp; 449901 |
| &nbsp;&nbsp;&nbsp;5.00%, 12/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 474811 |
| Lancaster County Hospital Authority, PA, (Brethren Village), 5.25%, 7/1/41 | 1260 | &nbsp;&nbsp;&nbsp;&nbsp; 1204624 |
| Lancaster Municipal Authority, PA, (Garden Spot Village), 5.00%, 5/1/44 | 1200 | &nbsp;&nbsp;&nbsp;&nbsp; 1213929 |
| Lancaster Municipal Authority, PA, (Luthercare), 5.00%, 12/1/45 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 986498 |
| Montgomery County Industrial Development Authority, PA, (ACTS Retirement-Life Communities, Inc. Obligated Group), 4.00%, 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 177595 |
| Montgomery County Industrial Development Authority, PA, (Whitemarsh Continuing Care Retirement Community), 5.00%, 1/1/33 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 984534 |
|  |  | &nbsp;&nbsp;**$9701724** |
| Special Tax Revenue — 7.2% | Special Tax Revenue — 7.2% | Special Tax Revenue — 7.2% |
| Allentown Neighborhood Improvement Zone Development Authority, PA, (City Center Project), 5.00%, 5/1/42<sup>(3)</sup> | $1750 | &nbsp;&nbsp;$1651548 |
| American Samoa Economic Development Authority, 5.00%, 9/1/38<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 196903 |
| Delaware Valley Regional Finance Authority, PA, (LOC: TD Bank, N.A.), 2.50%, 9/1/59<sup>(4)</sup> | 3750 | &nbsp;&nbsp;&nbsp;&nbsp; 3750000 |
| Pennsylvania Turnpike Commission, 4.00%, 12/1/51 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 862088 |
| Puerto Rico Sales Tax Financing Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp; 31102 |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp; 28665 |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp; 33172 |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp; 42225 |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 161403 |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;&nbsp;&nbsp; 95438 |
| &nbsp;&nbsp;&nbsp;4.50%, 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 98150 |
| &nbsp;&nbsp;&nbsp;4.536%, 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp; 4392 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/58 | 2533 | &nbsp;&nbsp;&nbsp;&nbsp; 2423415 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Special Tax Revenue (continued) | Special Tax Revenue (continued) | Special Tax Revenue (continued) |
| Southeastern Pennsylvania Transportation Authority, 5.25%, 6/1/47 | $2000 | &nbsp;&nbsp;$2093228 |
|  |  | &nbsp;&nbsp;**$11471729** |
| Transportation — 9.2% | Transportation — 9.2% | Transportation — 9.2% |
| Allegheny County Airport Authority, PA, (Pittsburgh International Airport), (AMT), 5.00%, 1/1/56 | $1000 | &nbsp;&nbsp;$995703 |
| Pennsylvania Economic Development Financing Authority, (PennDOT Major Bridges Package One), (AMT), 5.25%, 6/30/53 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 991570 |
| Pennsylvania Turnpike Commission: |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, 12/1/41 | 1125 | &nbsp;&nbsp;&nbsp;&nbsp; 1128632 |
| &nbsp;&nbsp;&nbsp;4.25%, 12/1/44 | 1380 | &nbsp;&nbsp;&nbsp;&nbsp; 1373639 |
| &nbsp;&nbsp;&nbsp;5.00%, 12/1/46 | 1835 | &nbsp;&nbsp;&nbsp;&nbsp; 1840711 |
| &nbsp;&nbsp;&nbsp;5.00%, 12/1/48 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1555263 |
| Philadelphia, PA, Airport Revenue: |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/47 | 2660 | &nbsp;&nbsp;&nbsp;&nbsp; 2669983 |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 7/1/33 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1051498 |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 7/1/51 | 3000 | &nbsp;&nbsp;&nbsp;&nbsp; 2992736 |
|  |  | &nbsp;&nbsp;**$14599735** |
| Water and Sewer — 3.0% | Water and Sewer — 3.0% | Water and Sewer — 3.0% |
| Allegheny County Sanitary Authority, PA, Sewer Revenue, 5.00%, 12/1/35 | $2000 | &nbsp;&nbsp;$2012284 |
| Clairton Municipal Authority, PA: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 12/1/38 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 962181 |
| &nbsp;&nbsp;&nbsp;4.375%, 12/1/42 | 1845 | &nbsp;&nbsp;&nbsp;&nbsp; 1754695 |
|  |  | &nbsp;&nbsp;**$4729160** |
| Total Tax-Exempt Municipal Obligations<br> (identified cost $159,432,638) |  | &nbsp;&nbsp;**$156544189** |

---

Taxable Municipal Obligations — 1.0%

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Cogeneration — 0.1% | Cogeneration — 0.1% | Cogeneration — 0.1% |
| Northampton County Industrial Development Authority, PA, (Northampton Generating), 5.00%, 6/30/27<sup>(1)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;729 | &nbsp;&nbsp;$131215 |
|  |  | &nbsp;&nbsp;**$131215** |

---

------

Eaton Vance<br>

Pennsylvania Municipal Income Fund

April 30, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Lease Revenue/Certificates of Participation — 0.9% | Lease Revenue/Certificates of Participation — 0.9% | Lease Revenue/Certificates of Participation — 0.9% |
| Commonwealth Financing Authority, PA, 3.864%, 6/1/38 | $1500 | &nbsp;&nbsp;$1359166 |
|  |  | &nbsp;&nbsp;**$1359166** |
| Total Taxable Municipal Obligations<br> (identified cost $2,074,795) |  | &nbsp;&nbsp;**$1490381** |
| Total Investments — 99.4%<br> (identified cost $161,507,433) |  | &nbsp;&nbsp;**$158034570** |
| Other Assets, Less Liabilities — 0.6% |  | &nbsp;&nbsp;**$1019820** |
| Net Assets — 100.0% |  | &nbsp;&nbsp;**$159054390** |

---

---

| | |
|:---|:---|
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | The percentage shown for each investment category in the Portfolio of Investments is based on net assets. |
| <sup>(1)</sup> | Represents a payment-in-kind security which may pay interest in additional principal at the issuer's discretion. |
| <sup>(2)</sup> | When-issued security. |
| <sup>(3)</sup> | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At April 30, 2025, the aggregate value of these securities is $2,638,729 or 1.7% of the Fund's net assets. |

---

---

| | |
|:---|:---|
| <sup>(4)</sup> | Variable rate demand obligation that may be tendered at par on any day for payment the same or next business day. The stated interest rate, which generally resets daily, is determined by the remarketing agent and represents the rate in effect at April 30, 2025. |
| The Fund invests primarily in debt securities issued by Pennsylvania municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. At April 30, 2025, 21.9% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 1.4% to 8.4% of total investments. | The Fund invests primarily in debt securities issued by Pennsylvania municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. At April 30, 2025, 21.9% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 1.4% to 8.4% of total investments. |

---

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| AGC | – Assured Guaranty Corp. |
| AGM | – Assured Guaranty Municipal Corp. |
| AMBAC | – AMBAC Financial Group, Inc. |
| AMT | – Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. |
| BAM | – Build America Mutual Assurance Co. |
| FNMA | – Federal National Mortgage Association |
| LOC | – Letter of Credit |
| NPFG | – National Public Finance Guarantee Corp. |
| SFMR | – Single Family Mortgage Revenue |

---

The Fund did not have any open derivative instruments at April 30, 2025.

Fair Value Measurements

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

• Level 1 – quoted prices in active markets for identical investments

• Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At April 30, 2025, the hierarchy of inputs used in valuing the Fund's investments, which are carried at fair value, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Tax-Exempt Municipal Obligations | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$156544189 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$156544189 |
| Taxable Municipal Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1490381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1490381 |
| **Total Investments** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$158034570** | &nbsp;&nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$158034570** |

---

For information on the Fund's policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent annual or semi-annual financial statements.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Eaton Vance Municipals Trust

- **b. Investment Company Act file number:** 811-04409

- **c. CIK number of Registrant:** 0000778365

- **d. LEI of Registrant:** 549300URENTSNA53MO13

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

  - **Street Address 1:** One Post Office Square

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02109

  - **Telephone number:** 617-482-8260

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

- **a. Name of Series:** Eaton Vance Pennsylvania Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000004853

- **c. LEI of Series:** 549300987Z8SO1QP5U15

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

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

- **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:** $160599293.49

**Total Liabilities:** $1780044.78

**Net Assets:** $158819248.71

**Delayed Delivery Securities:** $1023870.00

**Cash Not Reported:** $144365.74

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -338.83000000 | **1-Year:** -5152.41000000 | **5-Year:** -22226.89000000 | **10-Year:** -61886.14000000 | **30-Year:** -24769.72000000

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

- **3-Month:** -20.09000000 | **1-Year:** -783.26000000 | **5-Year:** -2552.13000000 | **10-Year:** -3610.33000000 | **30-Year:** -1073.83000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000013147 | 0.91%                | -1.88%               | -0.89%               |
| Class ID C000013145 | 1.12%                | -1.89%               | -0.87%               |
| Class ID C000063951 | 1.13%                | -1.87%               | -0.85%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $277612.01               | $887414.48                                 |
| Month 2  | $28836.75                | $-3619346.29                               |
| Month 3  | $-41994.17               | $-1800309.40                               |

**Designated Index Information**

- **Index Name:** BB Barclays Municipal Bd

- **Index Identifier:** MBINDEX

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Montgomery County Industrial Development Authority/PA                   | MONTGOMERY CNTY PA INDL DEV AUTH                             | CUSIP: 613609G42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984534.30    | 0.62%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | PUERTO RICO ELEC PWR AUTH PWRREVENUE                         | CUSIP: 74526Q2V3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1090820.41   | 0.69%             | 2034-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH UPMC REVENUE              | CUSIP: 70870JHT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009170.70   | 0.64%             | 2043-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster County Hospital Authority/PA                                  | LANCASTER CNTY PA HOSP AUTH                                  | CUSIP: 514045W66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990310.70    | 0.62%             | 2051-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Luzerne County Industrial Development Authority                         | LUZERNE CNTY PA INDL DEV AUTH                                | CUSIP: 550728AF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $665623.88    | 0.42%             | 2039-12-01      | Floating      | 2.45%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                      | ALLEGHENY CNTY PA ARPT AUTH ARPT REVENUE                     | CUSIP: 01728LHA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1067480.50   | 0.67%             | 2041-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Central Dauphin School District                                         | CENTRAL DAUPHIN PA SCH DIST                                  | CUSIP: 153300YR3<br>LEI: 549300B7BTSSV63QDZ15 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1186020.45   | 0.75%             | 2043-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $4391.72      | 0.00%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Lancaster County Hospital Authority/PA                                  | LANCASTER CNTY PA HOSP AUTH                                  | CUSIP: 514045S61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1204623.76   | 0.76%             | 2041-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Westmoreland County Municipal Authority                                 | WESTMORELAND CNTY PA MUNI AUTH                               | CUSIP: 961017SF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1295034.75   | 0.82%             | 2045-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware County Authority                                               | DELAWARE CNTY PA AUTH                                        | CUSIP: 246003NF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1082940.27   | 0.68%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TRW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1845378.60   | 1.16%             | 2051-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| County of Cambria PA                                                    | CAMBRIA CNTY PA                                              | CUSIP: 132033JW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1051495.83   | 0.66%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Allegheny PA                                                  | ALLEGHENY CNTY PA                                            | CUSIP: 01728VWU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1985000 | PA      | $2030541.06   | 1.28%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98149.52     | 0.06%             | 2034-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co                                               | PHILADELPHIA PA GAS WKS REVENUE                              | CUSIP: 71783MAZ8<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3010658.70   | 1.90%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allentown Neighborhood Improvement Zone Development Authority           | ALLENTOWN PA NEIGHBORHOOD IMPT ZONE DEV AUTH TAX REVENUE     | CUSIP: 018444AY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1651548.50   | 1.04%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TRY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    935000 | PA      | $812223.47    | 0.51%             | 2054-11-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2533000 | PA      | $2423414.57   | 1.53%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                     | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QWL3<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1995156.40   | 1.26%             | 2049-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    750000 | PA      | $795683.85    | 0.50%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1566196.50   | 0.99%             | 2042-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Centre County Hospital Authority                                        | CENTRE CNTY PA HOSP AUTH                                     | CUSIP: 156273GG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1395920.61   | 0.88%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                         | ALLEGHENY CNTY PA HOSP DEV AUTH                              | CUSIP: 01728A4A1<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2193836.19   | 1.38%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA                   | MONTGOMERY CNTY PA INDL DEV AUTH                             | CUSIP: 61360PCL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $177594.60    | 0.11%             | 2043-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bucks County Industrial Development Authority                           | BUCKS CNTY PA INDL DEV AUTH                                  | CUSIP: 118612LW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $447041.96    | 0.28%             | 2043-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Geisinger Authority                                                     | GEISINGER PA AUTH HLTH SYS REVENUE                           | CUSIP: 368497JT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1919014.40   | 1.21%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Muhlenberg School District                                              | MUHLENBERG PA SCH DIST                                       | CUSIP: 624805RR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022113.20   | 0.64%             | 2049-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bethlehem Redevelopment Authority                                       | BETHLEHEM PA REDEV AUTH UNIV REVENUE                         | CUSIP: 087470AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $55944.08     | 0.04%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clairton Municipal Authority                                            | CLAIRTON PA MUNI AUTH SWR REVENUE                            | CUSIP: 179630CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1845000 | PA      | $1754695.37   | 1.10%             | 2042-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| University of Pittsburgh-of the Commonwealth System of Higher Education | UNIV OF PITTSBURGH PA OF THE CMWLTH SYS OF HGR EDU           | CUSIP: 91335VJP2<br>LEI: 5493002C83QSGL8ETT42 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1370393.55   | 0.86%             | 2044-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     34000 | PA      | $31102.01     | 0.02%             | 2027-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| General Authority of Southcentral Pennsylvania                          | SOUTHCENTRL PA GEN AUTH REVENUE                              | CUSIP: 84129NMD8<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1291470.30   | 0.81%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mckeesport Area School District                                         | MCKEESPORT PA AREA SCH DIST                                  | CUSIP: 581408VU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2320000 | PA      | $2286895.46   | 1.44%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                      | ALLEGHENY CNTY PA ARPT AUTH ARPT REVENUE                     | CUSIP: 01728LHB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061244.20   | 0.67%             | 2042-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                     | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QUL5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1549226.55   | 0.98%             | 2051-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917S6Y4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1757850.80   | 1.11%             | 2049-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| General Authority of Southcentral Pennsylvania                          | SOUTHCENTRL PA GEN AUTH REVENUE                              | CUSIP: 84129NNJ4<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990539.50    | 0.62%             | 2045-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                     | PENNSYLVANIA ST HSG FIN AGY MF HSG REVENUE                   | CUSIP: 708797BG9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012714.80   | 0.64%             | 2041-06-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Bethlehem Redevelopment Authority                                       | BETHLEHEM PA REDEV AUTH UNIV REVENUE                         | CUSIP: 087470BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1612194.56   | 1.02%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Franklin County Industrial Development Authority/PA                     | FRANKLIN CNTY PA INDL DEV AUTH REVENUE                       | CUSIP: 353273BR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $811590.04    | 0.51%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Airport Revenue                                 | PHILADELPHIA PA ARPT REVENUE                                 | CUSIP: 717817XZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2992736.10   | 1.88%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster Municipal Authority                                           | LANCASTER PA MUNI AUTH HLTHCARE FACS REVENUE                 | CUSIP: 514350AL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1213929.12   | 0.76%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeastern Pennsylvania Transportation Authority                      | S ESTRN PA TRANSPRTN AUTH                                    | CUSIP: 842039FQ7<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2093228.00   | 1.32%             | 2047-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FINGAUTH UPMC REVENUE               | CUSIP: 70870JGS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $1718537.17   | 1.08%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State Public School Building Authority                                  | STATE PUBLIC SCH BLDG AUTH PA COLLEGE REV                    | CUSIP: 85732NBK0<br>LEI: 5493006JN0UR7OGWTO86 | Long             | DBT              | MUN               | US        |   1055000 | PA      | $957326.94    | 0.60%             | 2048-10-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Lehigh County General Purpose Authority                                 | LEHIGH CNTY PA GEN PURPOSE AUTH CHRT SCH REVENUE             | CUSIP: 52480EAM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3445000 | PA      | $2675590.94   | 1.68%             | 2057-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Samoa Economic Development Authority                           | AMERICAN SAMOA AS ECON DEV AUTH GEN REVENUE                  | CUSIP: 02936TAH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $196902.98    | 0.12%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster School District                                               | LANCASTER PA SCH DIST                                        | CUSIP: 514383WT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $58976.33     | 0.04%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Sanitary Authority                                     | ALLEGHENY CNTY PA SAN AUTH                                   | CUSIP: 017357A61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012283.80   | 1.27%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tamaqua Boro Authority                                                  | TAMAQUA BORO PA AUTH                                         | CUSIP: 874891DF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1371683.55   | 0.86%             | 2044-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Haverford Township School District                                      | HAVERFORD TWP PA SCH DIST                                    | CUSIP: 419434TE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $622211.76    | 0.39%             | 2044-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                      | ALLEGHENY CNTY PA ARPT AUTH ARPT REVENUE                     | CUSIP: 01728LFK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995703.00    | 0.63%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225JA5<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1555262.70   | 0.98%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware Valley Regional Finance Authority                              | DELAWARE VLY PA REGL FIN AUTH                                | CUSIP: 246579GC4<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $5087364.75   | 3.20%             | 2032-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Franklin County Industrial Development Authority/PA                     | FRANKLIN CNTY PA INDL DEV AUTH REVENUE                       | CUSIP: 353273BU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $452167.76    | 0.28%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $42224.94     | 0.03%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     34000 | PA      | $28664.98     | 0.02%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224QG7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1840710.89   | 1.16%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                   | CUSIP: 70869PQC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2935000 | PA      | $2624182.62   | 1.65%             | 2054-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania State University/The                                       | PENNSYLVANIA ST UNIV                                         | CUSIP: 709235F59<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   2895000 | PA      | $2907700.94   | 1.83%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northampton County Industrial Development Authority                     | NORTHAMPTON CNTY PA INDL DEV AUTH RESOURCE RECOVERY REVENUE  | CUSIP: 663547AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1323435 | PA      | $582311.40    | 0.37%             | 2027-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cornwall Lebanon School District                                        | CORNWALL LEBANON PA SCH DIST                                 | CUSIP: 219521TW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1142054.13   | 0.72%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Parkland School District                                                | PARKLAND PA SCH DIST                                         | CUSIP: 701383G62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1133478.94   | 0.71%             | 2049-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Adams County General Authority                                          | ADAMS CNTY PA GEN AUTH CLG REVENUE                           | CUSIP: 00611PBR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $485752.78    | 0.31%             | 2050-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware Valley Regional Finance Authority                              | DELAWARE VLY PA REGL FIN AUTH                                | CUSIP: 246579LZ7<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3750000.00   | 2.36%             | 2059-09-01      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    500000 | PA      | $519991.25    | 0.33%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Franklin County Industrial Development Authority/PA                     | FRANKLIN CNTY PA INDL DEV AUTH REVENUE                       | CUSIP: 353273BW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $474811.25    | 0.30%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                      | ALLEGHENY CNTY PA ARPT AUTH ARPT REVENUE                     | CUSIP: 01728LKW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4765000 | PA      | $4944182.58   | 3.11%             | 2044-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     43000 | PA      | $33171.55     | 0.02%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 7092237Q8<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2126720.20   | 1.34%             | 2038-12-01      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225FM3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1128631.95   | 0.71%             | 2041-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                        | CMWLTH FING AUTH PA TOBACCO MASTER SETTLEMENT PAYMENT REV    | CUSIP: 20282EAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2950000 | PA      | $3012478.94   | 1.90%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                     | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QTZ6<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    790000 | PA      | $793601.85    | 0.50%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clairton Municipal Authority                                            | CLAIRTON PA MUNI AUTH SWR REVENUE                            | CUSIP: 179630DM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $962180.60    | 0.61%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Northampton County General Purpose Authority                            | NORTHAMPTON CNTY PA GEN PURPOSE AUTH HOSP REVENUE            | CUSIP: 66353RDE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1238600.85   | 0.78%             | 2049-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster Municipal Authority                                           | LANCASTER PA MUNI AUTH HLTHCARE FACS REVENUE                 | CUSIP: 514350AR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986497.50    | 0.62%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern Lebanon School District                                        | NTHRN LEBANON PA SCH DIST                                    | CUSIP: 665337NU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2245000 | PA      | $1847909.56   | 1.16%             | 2042-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Lehigh PA                                                     | LEHIGH CNTY PA GEN PURPOSE HOSP REVENUE                      | CUSIP: 52480GDW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1700553.40   | 1.07%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lake Lehman School District                                             | LAKE LEHMAN PA SCH DIST                                      | CUSIP: 510080JQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1269528.22   | 0.80%             | 2026-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bethel Park School District                                             | BETHEL PARK PA SCH DIST                                      | CUSIP: 087059NL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2255065.89   | 1.42%             | 2043-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Franklin County Industrial Development Authority/PA                     | FRANKLIN CNTY PA INDL DEV AUTH REVENUE                       | CUSIP: 353273BV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $449901.45    | 0.28%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $161403.30    | 0.10%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                   | CUSIP: 70869PHV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2920000 | PA      | $2936444.56   | 1.85%             | 2034-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bucks County Water and Sewer Authority                                  | BUCKS CNTY PA WTR & SWR AUTH SWR SYS REVENUE                 | CUSIP: 118683JY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $770294.80    | 0.49%             | 2047-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Pittsburgh Water & Sewer Authority                                      | PITTSBURGH PA WTR & SWR AUTH                                 | CUSIP: 725304XA2<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4526394.08   | 2.85%             | 2047-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| County of Allegheny PA                                                  | ALLEGHENY CNTY PA                                            | CUSIP: 01728VUF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1724164.70   | 1.09%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Airport Revenue                                 | PHILADELPHIA PA ARPT REVENUE                                 | CUSIP: 717817TP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2660000 | PA      | $2669983.25   | 1.68%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH UPMC REVENUE              | CUSIP: 70870JFN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $842431.00    | 0.53%             | 2053-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                         | ALLEGHENY CNTY PA HOSP DEV AUTH                              | CUSIP: 01728A3Z7<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1538503.58   | 0.97%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hopewell Area School District                                           | HOPEWELL PA AREA SCH DIST                                    | CUSIP: 439624EB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $857714.04    | 0.54%             | 2026-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Adams County General Authority                                          | ADAMS CNTY PA GEN AUTH REV                                   | CUSIP: 006114AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $2946074.46   | 1.85%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester County Health and Education Facilities Authority                | CHESTER CNTY PA HLTH & EDU FACS AUTH HLTH SYS REVENUE        | CUSIP: 16557HEA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1173501.03   | 0.74%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                         | CHESTER CNTY PA INDL DEV AUTHSTUDENT HSG REVENUE             | CUSIP: 16559PBU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2194500.25   | 1.38%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Higher Education and Health Authority                 | MONTGOMERY CNTY PA HGR EDU & HLTH AUTH                       | CUSIP: 613603G94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1873881.00   | 1.18%             | 2057-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    402000 | PA      | $95438.18     | 0.06%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                     | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QKD4<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $925801.25    | 0.58%             | 2045-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Middletown Area School District                                         | MIDDLETOWN PA SCH DIST                                       | CUSIP: 597212RW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1189735.44   | 0.75%             | 2045-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware County Authority                                               | DELAWARE CNTY PA AUTH                                        | CUSIP: 245913LV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2715000 | PA      | $2720846.75   | 1.71%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Geisinger Authority                                                     | GEISINGER PA AUTH HLTH SYS REVENUE                           | CUSIP: 368497HP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2149898.31   | 1.35%             | 2045-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Airport Revenue                                 | PHILADELPHIA PA ARPT REVENUE                                 | CUSIP: 717817XP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051498.20   | 0.66%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northampton County Industrial Development Authority                     | NORTHAMPTON CNTY PA INDL DEV AUTH RESOURCE RECOVERY REVENUE  | CUSIP: 663547AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    728972 | PA      | $131214.96    | 0.08%             | 2027-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225HZ2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1380000 | PA      | $1373639.44   | 0.86%             | 2044-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV  | CUSIP: 708692BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $790278.20    | 0.50%             | 2039-08-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $991569.50    | 0.62%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917S4W0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2260806.75   | 1.42%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                        | CMWLTH FING AUTH PA                                          | CUSIP: 20281PKT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1359166.50   | 0.86%             | 2038-06-01      | Fixed         | 3.86%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                     | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 7087962H9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $914290.60    | 0.58%             | 2036-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Centre County Hospital Authority                                        | CENTRE CNTY PA HOSP AUTH                                     | CUSIP: 156273HE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $443093.55    | 0.28%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue              | PENNSYLVANIA ST TURNPIKE COMMISSION OIL FRANCHISE TAX REVENU | CUSIP: 709221WU5<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $862088.50    | 0.54%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                     | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QSV6<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994395.90    | 0.63%             | 2038-10-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Central Bucks School District                                           | CENTRL BUCKS PA SCH DIST                                     | CUSIP: 152735A22<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036862.50   | 0.65%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV HOSP REVENUE               | CUSIP: 717901CA8<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1965000 | PA      | $1755064.51   | 1.11%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-23

**Name of Applicant:** Eaton Vance Municipals Trust

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer