# EDGAR Filing Document

**Accession Number:** 0000916620
**File Stem:** 0002066578-26-001929
**Filing Date:** 2026-5
**Character Count:** 135470
**Document Hash:** 3a431632e83b2c2432235a07b7d02668
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-26-001929.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0002066578-26-001929

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN FUNDS
- **CENTRAL INDEX KEY:** 0000916620

**ORGANIZATION NAME:**
- **EIN:** 391777365
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08236
- **FILM NUMBER:** 261034974

**BUSINESS ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** 800-595-9111

**MAIL ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

## Series and Classes Contracts Data

### TAX-EXEMPT FUND (Series ID: S000001260)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000003406 | TAX-EXEMPT FUND | NOTEX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Northern Funds

- **b. Investment Company Act file number:** 811-08236

- **c. CIK number of Registrant:** 0000916620

- **d. LEI of Registrant:** 5493004ZY1PEJR3C0A81

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

  - **Street Address 1:** 50 South LaSalle Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60603

  - **Telephone number:** 800-595-9111

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

- **a. Name of Series:** Tax-Exempt Fund

- **b. EDGAR series identifier (if any):** S000001260

- **c. LEI of Series:** 5493008AKRV0C7NZ4D92

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $771504109.55

**Total Liabilities:** $26372310.87

**Net Assets:** $745131798.68

**Delayed Delivery Securities:** $25742847.50

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 24077.497511965300 | **1-Year:** 40661.775013413533 | **5-Year:** 159029.858913055429 | **10-Year:** 284374.333301946214 | **30-Year:** 45398.474812278644

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

- **3-Month:** 81.910030161595 | **1-Year:** 666.824565970499 | **5-Year:** 2150.890473265697 | **10-Year:** 1373.837722389172 | **30-Year:** 1155.764102147382

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000003406 | 0.63%                | 1.42%                | -1.97%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-714224.99              | $3391393.36                                |
| Month 2  | $-1283545.24             | $9497816.09                                |
| Month 3  | $-3852665.18             | $-12950899.34                              |

**Designated Index Information**

- **Index Name:** BBG Muni Bond Unadjusted (Risk Basis: MUNI)

- **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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PORT AUTHORITY OF H 5.00% | PORT AUTHORITY OF H 5.00% | CUSIP: 734262FY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2542992.25   | 0.34%             | 2051-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTFIELD SCHOOL DI 5.00% | WESTFIELD SCHOOL DI 5.00% | CUSIP: 960251CN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $732660.04    | 0.10%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY PUBLIC ENERG VAR | KENTUCKY PUBLIC ENERG VAR | CUSIP: 74440DFN9<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6349684.20   | 0.85%             | 2055-06-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSP 5.00% | MICHIGAN STATE HOSP 5.00% | CUSIP: 59465HYA8<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4261494.00   | 0.57%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCATIONA 5.00% | COLORADO EDUCATIONA 5.00% | CUSIP: 19645UWP5<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1925000 | PA      | $2034250.87   | 0.27%             | 2044-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NEW YORK M 2.05% | STATE OF NEW YORK M 2.05% | CUSIP: 64988YKG1<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1362434.40   | 0.18%             | 2033-04-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.00% | NEW YORK STATE DORM 5.00% | CUSIP: 65000BQF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5284.32      | 0.00%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| L ANSE CREUSE PUBLI 5.00% | L ANSE CREUSE PUBLI 5.00% | CUSIP: 516228TM5<br>LEI: 549300L3W88HP5QUMY54 | Long             | DBT              | MUN               | US        |    610000 | PA      | $628190.69    | 0.08%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WHATCOM COUNTY PUBL 5.50% | WHATCOM COUNTY PUBL 5.50% | CUSIP: 962468FV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1600229.10   | 0.21%             | 2043-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MARION & RALLS COUN 5.75% | MARION & RALLS COUN 5.75% | CUSIP: 569101KG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $55785.26     | 0.01%             | 2044-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ADAMS COUNTY SCHOOL 5.50% | ADAMS COUNTY SCHOOL 5.50% | CUSIP: 005662PL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2620000 | PA      | $2902239.24   | 0.39%             | 2044-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64972HK50<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3080747.40   | 0.41%             | 2043-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PERMANENT UNIVERSIT 4.00% | PERMANENT UNIVERSIT 4.00% | CUSIP: 9151158C6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5017582.50   | 0.67%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FINANCE AUTHO VAR | INDIANA FINANCE AUTHO VAR | CUSIP: 455059AJ4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500000.00   | 0.20%             | 2038-12-01      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| NI US GOV T PORTFOLIO     | NI US GOV T PORTFOLIO     | CUSIP: 665278404<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   3033331 | NS      | $3033331.48   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ARIZONA INDUSTRIAL 4.00%  | ARIZONA INDUSTRIAL 4.00%  | CUSIP: 04052FCS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $914947.40    | 0.12%             | 2046-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 544525F29<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1470274.00   | 0.20%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANGAMON COUNTY SCH 5.00% | SANGAMON COUNTY SCH 5.00% | CUSIP: 800766NN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1204131.36   | 0.16%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSP 5.00% | METROPOLITAN TRANSP 5.00% | CUSIP: 59261AZ34<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2732028.25   | 0.37%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| L ANSE CREUSE PUBLI 5.00% | L ANSE CREUSE PUBLI 5.00% | CUSIP: 516228TJ2<br>LEI: 549300L3W88HP5QUMY54 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1340091.38   | 0.18%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 544525V88<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1275584.67   | 0.17%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF MINNEAPOLIS 5.00% | CITY OF MINNEAPOLIS 5.00% | CUSIP: 603695JC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1380000 | PA      | $1408737.67   | 0.19%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA BOARD OF RE 5.00% | ARIZONA BOARD OF RE 5.00% | CUSIP: 040484L88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $630442.50    | 0.08%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CALIFORNIA 5.25% | STATE OF CALIFORNIA 5.25% | CUSIP: 13063DFQ6<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5007564.50   | 0.67%             | 2039-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF HO 5.00% | CITY & COUNTY OF HO 5.00% | CUSIP: 438687FV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2052015.20   | 0.28%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL 5.00% | MAIN STREET NATURAL 5.00% | CUSIP: 56035DBV3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503668.05    | 0.07%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY HOUSI 3.00% | NEW YORK CITY HOUSI 3.00% | CUSIP: 64972EHJ1<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1242618.09   | 0.17%             | 2039-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF CARROLL KY VAR  | COUNTY OF CARROLL KY VAR  | CUSIP: 14483RAR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1484606.55   | 0.20%             | 2034-10-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FAC 4.00% | COLORADO HEALTH FAC 4.00% | CUSIP: 19648FAA2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $981131.00    | 0.13%             | 2041-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SCHOOL DIS 5.00% | REPUBLIC SCHOOL DIS 5.00% | CUSIP: 394532KU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078348.00   | 0.14%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 4.40%  | WISCONSIN HEALTH & 4.40%  | CUSIP: 97712JJG9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100292.27   | 0.15%             | 2029-08-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH VAR | SOUTHEAST ENERGY AUTH VAR | CUSIP: 84136HCF8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3173339.70   | 0.43%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| WYOMING CITY SCHOOL D 5%  | WYOMING CITY SCHOOL D 5%  | CUSIP: 983442JE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1631789.83   | 0.22%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 0.00% | CITY & COUNTY OF DE 0.00% | CUSIP: 24917DBW2<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   2805000 | PA      | $1502892.35   | 0.20%             | 2039-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HOUS 3.00% | NORTH CAROLINA HOUS 3.00% | CUSIP: 658207ZV0<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    915000 | PA      | $720536.15    | 0.10%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEVELOPMENT 5.00% | FLORIDA DEVELOPMENT 5.00% | CUSIP: 34061UFX1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1852506.20   | 0.25%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINE 2.375% | MISSISSIPPI BUSINE 2.375% | CUSIP: 605279MK1<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $646494.20    | 0.09%             | 2044-06-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| WASHINGTON & MULTNO 0.00% | WASHINGTON & MULTNO 0.00% | CUSIP: 938429Y35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $1666361.50   | 0.22%             | 2048-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTGE. FI 4.30% | NEW MEXICO MTGE. FI 4.30% | CUSIP: 647201TW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $916729.34    | 0.12%             | 2052-09-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STADIUM & 5.25% | LOUISIANA STADIUM & 5.25% | CUSIP: 546410CY5<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   2695000 | PA      | $2772245.98   | 0.37%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF MAS 5.00% | COMMONWEALTH OF MAS 5.00% | CUSIP: 57582R4C7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4525000 | PA      | $4671395.52   | 0.63%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR | BLACK BELT ENERGY GAS VAR | CUSIP: 09182TEC7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1582443.15   | 0.21%             | 2055-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH MIAMI COMMUNI 5.00% | NORTH MIAMI COMMUNI 5.00% | CUSIP: 661056AU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1134279.85   | 0.15%             | 2043-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYOMING CITY SCHOOL D 5%  | WYOMING CITY SCHOOL D 5%  | CUSIP: 983442JJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2540366.00   | 0.34%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64972JTE8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1201514.83   | 0.16%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64972JPP7<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3127125.60   | 0.42%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHOR 5.00% | INDIANA FIN. AUTHOR 5.00% | CUSIP: 45506ERQ8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1564839.15   | 0.21%             | 2051-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUNICIPAL 5.00% | MINNESOTA MUNICIPAL 5.00% | CUSIP: 60406XAJ0<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3090989.40   | 0.41%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CALIFORNIA 5.75% | STATE OF CALIFORNIA 5.75% | CUSIP: 13062TU51<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75210.85     | 0.01%             | 2030-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 5.00% | COUNTY OF MIAMI-DAD 5.00% | CUSIP: 59333PR75<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5003307.00   | 0.67%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE COUNTY SCHO 4.00% | FAYETTE COUNTY SCHO 4.00% | CUSIP: 312432H67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4883021.00   | 0.66%             | 2038-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOCAL GOV 2.50% | LOUISIANA LOCAL GOV 2.50% | CUSIP: 54628CUH3<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   4250000 | PA      | $3620121.10   | 0.49%             | 2036-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PATRIOTS ENERGY GRO 4.00% | PATRIOTS ENERGY GRO 4.00% | CUSIP: 70338JCH5<br>LEI: 549300NJ5PDRH6328F32 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2192028.75   | 0.29%             | 2051-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LITTLE ROCK SCHOOL 2.25%  | LITTLE ROCK SCHOOL 2.25%  | CUSIP: 537428Z98<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $723469.40    | 0.10%             | 2041-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 249182QN9<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2128578.60   | 0.29%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF EL PASO TX 5.00%  | CITY OF EL PASO TX 5.00%  | CUSIP: 283791HP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1312507.88   | 0.18%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  1 | On Loan: No      |
| COLORADO HEALTH FAC 5.00% | COLORADO HEALTH FAC 5.00% | CUSIP: 19648FXR0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3193338.90   | 0.43%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE REDEVEL 5.00% | NOBLESVILLE REDEVEL 5.00% | CUSIP: 655164KX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $813649.35    | 0.11%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL 5.00%  | INDIANAPOLIS LOCAL 5.00%  | CUSIP: 45528VDV8<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    895000 | PA      | $922229.39    | 0.12%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS REGIONAL A 5.00% | COLUMBUS REGIONAL A 5.00% | CUSIP: 199546CQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $713183.25    | 0.10%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH MIAMI COMMUNI 5.00% | NORTH MIAMI COMMUNI 5.00% | CUSIP: 661056AT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037604.70   | 0.14%             | 2042-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK COUNTY COMMUNI 5.50% | COOK COUNTY COMMUNI 5.50% | CUSIP: 213187EK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2111706.00   | 0.28%             | 2051-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF WISCO 4.25% | UNIVERSITY OF WISCO 4.25% | CUSIP: 915260DH3<br>LEI: 549300O76DW14JGO7224 | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2655147.47   | 0.36%             | 2048-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY INDL. VAR | MARICOPA COUNTY INDL. VAR | CUSIP: 56682HDV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4157512.80   | 0.56%             | 2053-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CAPITOL IM 5.00% | OKLAHOMA CAPITOL IM 5.00% | CUSIP: 679088NA8<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |    280000 | PA      | $300747.69    | 0.04%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON CITY SCHOOL 0.00%  | OREGON CITY SCHOOL 0.00%  | CUSIP: 179162GM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $635000.20    | 0.09%             | 2037-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPA 5.00% | CALIFORNIA MUNICIPA 5.00% | CUSIP: 13049YBK6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2021316.40   | 0.27%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF GRAND FORKS 3.00% | CITY OF GRAND FORKS 3.00% | CUSIP: 38546WDP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1121572.80   | 0.15%             | 2046-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF LEE FL LO 5.25% | COUNTY OF LEE FL LO 5.25% | CUSIP: 52349LDW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3581193.00   | 0.48%             | 2049-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HUFFMAN INDEPENDENT 5.25% | HUFFMAN INDEPENDENT 5.25% | CUSIP: 444348A71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1835253.53   | 0.25%             | 2049-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WEST OTTAWA PUBLIC 5.00%  | WEST OTTAWA PUBLIC 5.00%  | CUSIP: 955023XD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $26432.77     | 0.00%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASINO REINVESTMENT 5.00% | CASINO REINVESTMENT 5.00% | CUSIP: 14760RBN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1228205.09   | 0.16%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 5444958A5<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2380000 | PA      | $2478117.64   | 0.33%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEBANON REORGANIZED 5.50% | LEBANON REORGANIZED 5.50% | CUSIP: 522714FL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $998560.64    | 0.13%             | 2045-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 4.125% | WISCONSIN HEALTH & 4.125% | CUSIP: 97712DU38<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1385421.90   | 0.19%             | 2046-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTA 5.00% | NEW YORK TRANSPORTA 5.00% | CUSIP: 650116EL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $595136.08    | 0.08%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SPRINGFIELD 5.00% | CITY OF SPRINGFIELD 5.00% | CUSIP: 850578UH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2533967.75   | 0.34%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOM 5.00% | PENNSYLVANIA ECONOM 5.00% | CUSIP: 70870KAV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2174132.84   | 0.29%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY MUNIC 5.00% | NEW YORK CITY MUNIC 5.00% | CUSIP: 64972GV43<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057537.30   | 0.14%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF KANSA 5.25% | UNIVERSITY OF KANSA 5.25% | CUSIP: 914367JZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1593884.70   | 0.21%             | 2046-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON HEALTH C 5.00% | WASHINGTON HEALTH C 5.00% | CUSIP: 93978HKN4<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5004758.00   | 0.67%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE/JEFFERSO 2.00% | LOUISVILLE/JEFFERSO 2.00% | CUSIP: 546749AT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $3835125.90   | 0.51%             | 2033-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CITY OF WINTER GARD 5.25% | CITY OF WINTER GARD 5.25% | CUSIP: 975784AW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3109955.70   | 0.42%             | 2054-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COUNTY OF GRANT WA 5.25%  | COUNTY OF GRANT WA 5.25%  | CUSIP: 387802GG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1418000.18   | 0.19%             | 2050-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%   | STATE OF ILLINOIS 5.00%   | CUSIP: 452153QE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4229317.60   | 0.57%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY MUNICIP VAR | NEW YORK CITY MUNICIP VAR | CUSIP: 64972GCM4<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   4040000 | PA      | $4040000.00   | 0.54%             | 2050-06-15      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELECTRIC 5.50%  | MUNICIPAL ELECTRIC 5.50%  | CUSIP: 626207H31<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500356.00   | 0.34%             | 2060-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DOUGLAS COUNTY HOSP 5.00% | DOUGLAS COUNTY HOSP 5.00% | CUSIP: 259230NF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011645.20   | 0.14%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 0.00% | CITY & COUNTY OF DE 0.00% | CUSIP: 24917DBU6<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $1661017.05   | 0.22%             | 2037-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTHEAST OHIO MEDI 4.00% | NORTHEAST OHIO MEDI 4.00% | CUSIP: 66433RBE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $196875.47    | 0.03%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPA 3.00% | CALIFORNIA MUNICIPA 3.00% | CUSIP: 13049YFR7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $702448.40    | 0.09%             | 2054-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF MAS 5.25% | COMMONWEALTH OF MAS 5.25% | CUSIP: 57582RY34<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5264725.50   | 0.71%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEV. 5.25%  | MASSACHUSETTS DEV. 5.25%  | CUSIP: 57585BJT6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1506895.50   | 0.20%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 5.00% | DISTRICT OF COLUMBI 5.00% | CUSIP: 25476FJ90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3150000 | PA      | $3316505.85   | 0.45%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX W 5.00% | CITY OF AUSTIN TX W 5.00% | CUSIP: 052477R81<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2469441.10   | 0.33%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASCO PUBLIC FACILI 5.00% | PASCO PUBLIC FACILI 5.00% | CUSIP: 70255CAR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1131279.03   | 0.15%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FAC VAR | CALIFORNIA HEALTH FAC VAR | CUSIP: 13032U5S3<br>LEI: 549300FOKP65GNO33016 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1096960.00   | 0.15%             | 2047-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.25% | CITY OF NEW YORK NY 5.25% | CUSIP: 64966STW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1587016.20   | 0.21%             | 2047-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DELAWARE COUNTY REG 5.00% | DELAWARE COUNTY REG 5.00% | CUSIP: 246045MM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $866411.25    | 0.12%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCATIONA 5.00% | COLORADO EDUCATIONA 5.00% | CUSIP: 19645UWR1<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1620000 | PA      | $1681805.59   | 0.23%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRINITY RIVER AUTHO 5.00% | TRINITY RIVER AUTHO 5.00% | CUSIP: 896564A92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2360000 | PA      | $2494392.09   | 0.33%             | 2046-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 2.00% | PORT AUTHORITY OF N 2.00% | CUSIP: 73358XCU4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1733698.60   | 0.23%             | 2032-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSI 3.00% | VIRGINIA SMALL BUSI 3.00% | CUSIP: 928104NZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $802577.80    | 0.11%             | 2041-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SOUTH BROWARD HOSPI 4.00% | SOUTH BROWARD HOSPI 4.00% | CUSIP: 836753MF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3190988.50   | 0.43%             | 2044-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ORLANDO FL 5.00%  | CITY OF ORLANDO FL 5.00%  | CUSIP: 686513AX0<br>LEI: G8GZFWRIKS3AFD6AWU52 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3618944.00   | 0.49%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TWIN RIVERS UNIFIED 5.00% | TWIN RIVERS UNIFIED 5.00% | CUSIP: 90171TKD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $582247.33    | 0.08%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUTHRIE COUNTY HOSP 4.50% | GUTHRIE COUNTY HOSP 4.50% | CUSIP: 40341HAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1299655.63   | 0.17%             | 2029-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CITY OF SPRINGBORO 4.00%  | CITY OF SPRINGBORO 4.00%  | CUSIP: 850221TT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2023556.00   | 0.27%             | 2027-02-23      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF KENT WA 5.00%     | CITY OF KENT WA 5.00%     | CUSIP: 490746ZH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2008476.99   | 0.27%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR  | CALIFORNIA COMMUNITY VAR  | CUSIP: 13013JFD3<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3748582.95   | 0.50%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS WATER 5.00% | MASSACHUSETTS WATER 5.00% | CUSIP: 576051TD8<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |    920000 | PA      | $950774.74    | 0.13%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY MUNIC 5.00% | NEW YORK CITY MUNIC 5.00% | CUSIP: 64972GB29<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5250489.00   | 0.70%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY VAR   | CITY OF NEW YORK NY VAR   | CUSIP: 64966QWQ9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2175000.00   | 0.29%             | 2042-04-01      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL 5.25%  | INDIANAPOLIS LOCAL 5.25%  | CUSIP: 45528VFR5<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2079447.40   | 0.28%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY CULTUR VAR | TARRANT COUNTY CULTUR VAR | CUSIP: 87638TJX2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1468533.60   | 0.20%             | 2051-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & ED VAR | WISCONSIN HEALTH & ED VAR | CUSIP: 97712JRB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3809348.20   | 0.51%             | 2046-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE STATE HEAL 5.00% | DELAWARE STATE HEAL 5.00% | CUSIP: 246388UY6<br>LEI: 549300RXU7M05ZYSJG42 | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1360019.59   | 0.18%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHORI VAR | ILLINOIS FIN. AUTHORI VAR | CUSIP: 45204FQ73<br>LEI: 549300OLHNJ39OUUAH74 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1938229.65   | 0.26%             | 2064-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHIN 5.00% | METROPOLITAN WASHIN 5.00% | CUSIP: 592647NR8<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $3042376.70   | 0.41%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUTTO INDEPENDENT SCH VAR | HUTTO INDEPENDENT SCH VAR | CUSIP: 4484926N3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $565091.73    | 0.08%             | 2055-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS S 5.00% | STATE OF ILLINOIS S 5.00% | CUSIP: 452227WC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2211541.40   | 0.30%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND COUNTY M 5.25% | CUMBERLAND COUNTY M 5.25% | CUSIP: 230614TY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023730.30   | 0.14%             | 2044-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF H 5.00% | PORT AUTHORITY OF H 5.00% | CUSIP: 7342605F5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2620397.50   | 0.35%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY CULT 5.00% | TARRANT COUNTY CULT 5.00% | CUSIP: 87638QUL1<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    625000 | PA      | $670649.56    | 0.09%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF BROWARD F 5.00% | COUNTY OF BROWARD F 5.00% | CUSIP: 114894XK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2307768.75   | 0.31%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTA 5.00% | NEW YORK TRANSPORTA 5.00% | CUSIP: 650116FC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $652014.56    | 0.09%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YUMA INDL. DEV. AUT 5.00% | YUMA INDL. DEV. AUT 5.00% | CUSIP: 988514CK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $725905.51    | 0.10%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CAPITOL IM 5.25% | OKLAHOMA CAPITOL IM 5.25% | CUSIP: 678514EM8<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2109357.60   | 0.28%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 544532RB2<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1121377.40   | 0.15%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF BROWARD F 5.00% | COUNTY OF BROWARD F 5.00% | CUSIP: 114894YE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1245000.28   | 0.17%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER INDL. DEV. A VAR | CHANDLER INDL. DEV. A VAR | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2031839.60   | 0.27%             | 2052-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TRANSPOR 5.00% | NEW JERSEY TRANSPOR 5.00% | CUSIP: 64613CEG9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2081952.80   | 0.28%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FA 5.25% | LOUISIANA PUBLIC FA 5.25% | CUSIP: 546399UL8<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2591071.75   | 0.35%             | 2050-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO O HARE INTL 5.25% | CHICAGO O HARE INTL 5.25% | CUSIP: 167591BM7<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2074141.80   | 0.28%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO 5.00% | CITY OF SAN ANTONIO 5.00% | CUSIP: 79625GNP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2782136.25   | 0.37%             | 2039-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND HEALTH & H 5.00% | MARYLAND HEALTH & H 5.00% | CUSIP: 57421CNW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032079.30   | 0.14%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 4.00%  | WISCONSIN HEALTH & 4.00%  | CUSIP: 97712JMW0<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   4905000 | PA      | $4465001.88   | 0.60%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY CULTU 5.00% | HARRIS COUNTY CULTU 5.00% | CUSIP: 414009UA6<br>LEI: 549300Y1E42JLBRENF23 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3776969.00   | 0.51%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACIL VAR | COLORADO HEALTH FACIL VAR | CUSIP: 19648FXD1<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2628540.00   | 0.35%             | 2058-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF BROWARD F 5.00% | COUNTY OF BROWARD F 5.00% | CUSIP: 114894ZE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1096025.88   | 0.15%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOWELL PUBLIC SCHOO 5.00% | HOWELL PUBLIC SCHOO 5.00% | CUSIP: 443114WS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $804054.83    | 0.11%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FAC VAR | CALIFORNIA HEALTH FAC VAR | CUSIP: 13032U4Q8<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2753070.00   | 0.37%             | 2050-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF PINAL AZ 5.25%  | COUNTY OF PINAL AZ 5.25%  | CUSIP: 72205RJE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1577026.05   | 0.21%             | 2050-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO PARK DISTRI 5.00% | CHICAGO PARK DISTRI 5.00% | CUSIP: 1676155K5<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1796534.08   | 0.24%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IPS MULTI-SCHOOL BL 5.00% | IPS MULTI-SCHOOL BL 5.00% | CUSIP: 46263RXA8<br>LEI: 549300BHLK1DUJUYPM91 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040749.30   | 0.14%             | 2045-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTH 5.125% | ILLINOIS FIN. AUTH 5.125% | CUSIP: 45204FT70<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1500868.66   | 0.20%             | 2046-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WARREN CONS. SCHOOL 5.00% | WARREN CONS. SCHOOL 5.00% | CUSIP: 935341T80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023868.20   | 0.14%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND HEALTH & H 5.00% | MARYLAND HEALTH & H 5.00% | CUSIP: 57421CNB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $908508.48    | 0.12%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.00% | NEW YORK STATE DORM 5.00% | CUSIP: 64990FPW8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4615680.15   | 0.62%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 4.00%  | WISCONSIN HEALTH & 4.00%  | CUSIP: 97712JMV2<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |     40000 | PA      | $40073.48     | 0.01%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY CULTUR VAR | TARRANT COUNTY CULTUR VAR | CUSIP: 87638TJT1<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2137418.80   | 0.29%             | 2064-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| YUMA INDL. DEV. AUT 5.00% | YUMA INDL. DEV. AUT 5.00% | CUSIP: 988514CW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $748265.21    | 0.10%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN NASHVI 5.00% | METROPOLITAN NASHVI 5.00% | CUSIP: 592190SC7<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1611873.30   | 0.22%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS STATE TOLL 5.00% | ILLINOIS STATE TOLL 5.00% | CUSIP: 452252PU7<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2435917.81   | 0.33%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHORIT VAR | INDIANA FIN. AUTHORIT VAR | CUSIP: 45470YFL0<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2091063.60   | 0.28%             | 2062-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA STATE 5.00%  | PENNSYLVANIA STATE 5.00%  | CUSIP: 709235B61<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5125392.50   | 0.69%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00% | PORT AUTHORITY OF N 5.00% | CUSIP: 73358XNH1<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2102187.20   | 0.28%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 5.00% | DISTRICT OF COLUMBI 5.00% | CUSIP: 25477GYN9<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2854442.80   | 0.38%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL 6.00%  | CITY OF CHICAGO IL 6.00%  | CUSIP: 167486U72<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032628.10   | 0.14%             | 2050-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITY OF HOUSTON TX 5.25%  | CITY OF HOUSTON TX 5.25%  | CUSIP: 442349KD7<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3679844.35   | 0.49%             | 2032-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LINCOLN CONS. SCHOO 5.00% | LINCOLN CONS. SCHOO 5.00% | CUSIP: 533883QD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1537423.05   | 0.21%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY CULT 5.00% | TARRANT COUNTY CULT 5.00% | CUSIP: 87638QUJ6<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    875000 | PA      | $904835.84    | 0.12%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND HEALTH & H 5.00% | MARYLAND HEALTH & H 5.00% | CUSIP: 57421CNX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1083161.39   | 0.15%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AU 3.25% | ILLINOIS FINANCE AU 3.25% | CUSIP: 45204FBG9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1933008.75   | 0.26%             | 2049-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ROUND ROCK INDEPEND 5.00% | ROUND ROCK INDEPEND 5.00% | CUSIP: 779240NT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1599835.65   | 0.21%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF FISHERS IN 3.00%  | CITY OF FISHERS IN 3.00%  | CUSIP: 33803HGF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $727860.90    | 0.10%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MORTGAGE 4.00% | NEW MEXICO MORTGAGE 4.00% | CUSIP: 647201SS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990000 | PA      | $863486.61    | 0.12%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL 5.25%  | CITY OF CHICAGO IL 5.25%  | CUSIP: 167736U96<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2049541.40   | 0.28%             | 2053-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR  | CALIFORNIA COMMUNITY VAR  | CUSIP: 13013JDR4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6328509.00   | 0.85%             | 2054-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| TOOELE COUNTY SCHOO 5.00% | TOOELE COUNTY SCHOO 5.00% | CUSIP: 890346RL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $550428.94    | 0.07%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL BROWN COUNT 5.00% | CENTRAL BROWN COUNT 5.00% | CUSIP: 152708CW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1439397.43   | 0.19%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO O HARE INTL 5.00% | CHICAGO O HARE INTL 5.00% | CUSIP: 1675935W8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1068555.30   | 0.14%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOWN OF QUEEN CREEK 5.00% | TOWN OF QUEEN CREEK 5.00% | CUSIP: 74823YHD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4720000 | PA      | $4822686.90   | 0.65%             | 2054-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA BOARD OF RE 5.00% | ARIZONA BOARD OF RE 5.00% | CUSIP: 040484F36<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1468359.63   | 0.20%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE STATE ECONOM VAR | DELAWARE STATE ECONOM VAR | CUSIP: 246387SY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2213294.18   | 0.30%             | 2045-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY CULT 5.00% | TARRANT COUNTY CULT 5.00% | CUSIP: 87638QUK3<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    600000 | PA      | $632925.72    | 0.08%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METRO WATER RECOVER 5.00% | METRO WATER RECOVER 5.00% | CUSIP: 59164GGP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043132.70   | 0.14%             | 2051-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN CENTER DI 5.00% | WISCONSIN CENTER DI 5.00% | CUSIP: 976596BC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3165000 | PA      | $3289072.11   | 0.44%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEV. 6.00%  | MASSACHUSETTS DEV. 6.00%  | CUSIP: 57585BTF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $534697.05    | 0.07%             | 2049-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY 5.00%  | SAN FRANCISCO CITY 5.00%  | CUSIP: 79766DKG3<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1510014.75   | 0.20%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA TURNPI 5.00% | PENNSYLVANIA TURNPI 5.00% | CUSIP: 709221VJ1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2568078.00   | 0.34%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY HOUSI 3.00% | NEW YORK CITY HOUSI 3.00% | CUSIP: 64972EJV2<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1260586.98   | 0.17%             | 2044-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP/TN VAR      | TENNERGY CORP/TN VAR      | CUSIP: 880397BW3<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5049048.50   | 0.68%             | 2051-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 3.00% | COUNTY OF MIAMI-DAD 3.00% | CUSIP: 59335KDJ3<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $5452484.25   | 0.73%             | 2050-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF SEMINOLE 5.00%  | COUNTY OF SEMINOLE 5.00%  | CUSIP: 816699BN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1349113.68   | 0.18%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%   | STATE OF ILLINOIS 5.00%   | CUSIP: 452153JU4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1568329.37   | 0.21%             | 2037-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTA 5.25% | NEW YORK TRANSPORTA 5.25% | CUSIP: 650116HF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1671944.96   | 0.22%             | 2041-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTA 6.00% | NEW YORK TRANSPORTA 6.00% | CUSIP: 650116JN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059980.90   | 0.14%             | 2050-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GREATER NEW ORLEANS 5.00% | GREATER NEW ORLEANS 5.00% | CUSIP: 39225PBE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $646342.49    | 0.09%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON HEALTH C 5.00% | WASHINGTON HEALTH C 5.00% | CUSIP: 93978HC94<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3865173.90   | 0.52%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CALIFORNIA 5.00% | STATE OF CALIFORNIA 5.00% | CUSIP: 13063ENW2<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079154.40   | 0.14%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF TEXAS 5.00%      | STATE OF TEXAS 5.00%      | CUSIP: 882725CZ5<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1135526.20   | 0.15%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE COUNTY BOARD 5.00% | MOBILE COUNTY BOARD 5.00% | CUSIP: 607298BR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $438338.75    | 0.06%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBURG VAR | CHARLOTTE-MECKLENBURG VAR | CUSIP: 160853MR5<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4000000.00   | 0.54%             | 2038-01-15      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 24917DAS2<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1506206.70   | 0.20%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEALTH & EDUCATIONA 5.00% | HEALTH & EDUCATIONA 5.00% | CUSIP: 60637AMV1<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1306558.98   | 0.18%             | 2043-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASCO COUNTY SCHOOL 5.00% | PASCO COUNTY SCHOOL 5.00% | CUSIP: 702528LK4<br>LEI: 549300NYEDMC7IDJPE68 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3069855.00   | 0.41%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FINANCE AUTHO VAR | INDIANA FINANCE AUTHO VAR | CUSIP: 455059AH8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1125000.00   | 0.15%             | 2038-12-01      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AU 5.25% | ILLINOIS FINANCE AU 5.25% | CUSIP: 45204FRE7<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $475377.90    | 0.06%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 5.00% | COUNTY OF MIAMI-DAD 5.00% | CUSIP: 59334PKU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2827351.18   | 0.38%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY E 5.00% | PALM BEACH COUNTY E 5.00% | CUSIP: 696506AV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $374916.15    | 0.05%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHWEST ALLEN SCH 5.00% | NORTHWEST ALLEN SCH 5.00% | CUSIP: 667315JN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $659755.02    | 0.09%             | 2031-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA RAILROAD COR 6.00% | ALASKA RAILROAD COR 6.00% | CUSIP: 01176AAU7<br>LEI: 549300SM5ZU2HV31E004 | Long             | DBT              | MUN               | US        |    500000 | PA      | $537539.20    | 0.07%             | 2050-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| POWAY UNIFIED SCHOO 5.00% | POWAY UNIFIED SCHOO 5.00% | CUSIP: 73885QNK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1248417.35   | 0.17%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR  | CALIFORNIA COMMUNITY VAR  | CUSIP: 13013JHD1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3875000 | PA      | $4039983.16   | 0.54%             | 2055-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSP 5.00% | METROPOLITAN TRANSP 5.00% | CUSIP: 59261A6D4<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1529977.48   | 0.21%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA EDUCATIO 5.25% | CALIFORNIA EDUCATIO 5.25% | CUSIP: 130179YN8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1975000 | PA      | $2029662.47   | 0.27%             | 2040-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WAYNE COUNTY AIRPOR 5.00% | WAYNE COUNTY AIRPOR 5.00% | CUSIP: 9445142Y3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1098272.60   | 0.15%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93974FGL1<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4194053.20   | 0.56%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN. AUTHORI 5.25% | PUBLIC FIN. AUTHORI 5.25% | CUSIP: 74442PX67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3039885.90   | 0.41%             | 2048-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE ENVI 4.00% | NEW YORK STATE ENVI 4.00% | CUSIP: 64986DBN4<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4698957.00   | 0.63%             | 2046-06-15      | Fixed         | 4.00%                 | No            |                  1 | On Loan: No      |
| GREATER ORLANDO AVI 5.00% | GREATER ORLANDO AVI 5.00% | CUSIP: 392274X35<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   1965000 | PA      | $1981401.66   | 0.27%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 3.00% | NEW YORK CITY TRANS 3.00% | CUSIP: 64971XLN6<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3914204.50   | 0.53%             | 2045-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING 3.50%  | CALIFORNIA HOUSING 3.50%  | CUSIP: 13033DAE5<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   3224792 | PA      | $3174562.14   | 0.43%             | 2035-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR | BLACK BELT ENERGY GAS VAR | CUSIP: 09182NBR0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3029956.50   | 0.41%             | 2051-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ROCKINGHAM COUNTY E 3.00% | ROCKINGHAM COUNTY E 3.00% | CUSIP: 77345QAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1560712.80   | 0.21%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR | BLACK BELT ENERGY GAS VAR | CUSIP: 09182TAM9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005993.80   | 0.14%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH VAR | SOUTHEAST ENERGY AUTH VAR | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064325.60   | 0.14%             | 2053-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CITY OF ATLANTA GA 5.00%  | CITY OF ATLANTA GA 5.00%  | CUSIP: 04780M2U2<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2161752.40   | 0.29%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV. BO 4.25% | TEXAS WATER DEV. BO 4.25% | CUSIP: 88285AFZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2791600.80   | 0.37%             | 2051-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DALLAS FORT WORTH I 5.25% | DALLAS FORT WORTH I 5.25% | CUSIP: 23503CGD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1547026.85   | 0.21%             | 2042-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICU 5.00% | STATE OF CONNECTICU 5.00% | CUSIP: 20772KF38<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1946049.84   | 0.26%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64972JXG8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1642736.55   | 0.22%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HOUSING 3.375%  | TENNESSEE HOUSING 3.375%  | CUSIP: 880461JS8<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |     50000 | PA      | $47104.13     | 0.01%             | 2038-07-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| OMAHA PUBLIC POWER 5.00%  | OMAHA PUBLIC POWER 5.00%  | CUSIP: 682001FX5<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4324912.63   | 0.58%             | 2042-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL G VAR | MAIN STREET NATURAL G VAR | CUSIP: 56035DDH2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5058242.00   | 0.68%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHORI 5%  | ILLINOIS FIN. AUTHORI 5%  | CUSIP: 45204FXQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1177416.41   | 0.16%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF EL PASO TX 5.00%  | CITY OF EL PASO TX 5.00%  | CUSIP: 2837347F2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1120192.66   | 0.15%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAWTON INDL. DEV. A 5.00% | LAWTON INDL. DEV. A 5.00% | CUSIP: 521005BN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2030565.80   | 0.27%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN. AUTHORI 5.00% | PUBLIC FIN. AUTHORI 5.00% | CUSIP: 74443DND9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $527269.26    | 0.07%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEFA INC VAR              | PEFA INC VAR              | CUSIP: 70556CAB0<br>LEI: 549300RSE249DJNRHY07 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3526394.20   | 0.47%             | 2049-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.25%   | STATE OF ILLINOIS 5.25%   | CUSIP: 452153KG3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2060000 | PA      | $2095316.64   | 0.28%             | 2049-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TRANSPOR 5.00% | NEW JERSEY TRANSPOR 5.00% | CUSIP: 64613CHE1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1413563.25   | 0.19%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK COUNTY TOWNSHI 5.00% | COOK COUNTY TOWNSHI 5.00% | CUSIP: 215457CU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1153766.13   | 0.15%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND HEALTH & H 5.00% | MARYLAND HEALTH & H 5.00% | CUSIP: 5742184H3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1107701.76   | 0.15%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTANA BOARD OF HO 3.90% | MONTANA BOARD OF HO 3.90% | CUSIP: 61212R8G4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $44450.59     | 0.01%             | 2048-12-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| UNION COUNTY HOSPIT 5.00% | UNION COUNTY HOSPIT 5.00% | CUSIP: 906420CJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $704188.73    | 0.09%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.25% | NEW YORK CITY TRANS 5.25% | CUSIP: 64972JGW2<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039721.40   | 0.14%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TROY CITY SCHOOL DI 5.00% | TROY CITY SCHOOL DI 5.00% | CUSIP: 897676FM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2719892.16   | 0.37%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.25%   | STATE OF ILLINOIS 5.25%   | CUSIP: 452153KC2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037636.00   | 0.14%             | 2045-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966SQY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1115588.40   | 0.15%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN. AUTHORI 5.00% | PUBLIC FIN. AUTHORI 5.00% | CUSIP: 74443DNC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504468.70    | 0.07%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE VALLEY REG 5.50% | DELAWARE VALLEY REG 5.50% | CUSIP: 246579ER3<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1546488.50   | 0.21%             | 2028-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00% | PORT AUTHORITY OF N 5.00% | CUSIP: 73358WR89<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036797.90   | 0.14%             | 2028-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUS 4.10% | MICHIGAN STATE HOUS 4.10% | CUSIP: 594654RF4<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1826053.69   | 0.25%             | 2043-06-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| CHANDLER INDL. DEV. A VAR | CHANDLER INDL. DEV. A VAR | CUSIP: 158862CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1519082.40   | 0.20%             | 2049-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON COUNTY PUB 5.00% | HAMILTON COUNTY PUB 5.00% | CUSIP: 40721YCF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055622.10   | 0.14%             | 2042-07-10      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA RAILROAD COR 5.50% | ALASKA RAILROAD COR 5.50% | CUSIP: 01176AAQ6<br>LEI: 549300SM5ZU2HV31E004 | Long             | DBT              | MUN               | US        |    385000 | PA      | $414921.85    | 0.06%             | 2042-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS STATE UNIV 5.25% | ILLINOIS STATE UNIV 5.25% | CUSIP: 452272H42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3703681.44   | 0.50%             | 2050-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF ED 5.75% | CHICAGO BOARD OF ED 5.75% | CUSIP: 167505ZM1<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1499910.00   | 0.20%             | 2050-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV. BO 5.00% | TEXAS WATER DEV. BO 5.00% | CUSIP: 88285AJN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2289562.60   | 0.31%             | 2035-10-15      | Fixed         | 5.00%                 | No            |                  1 | On Loan: No      |
| MISSOURI JOINT MUNI 5.00% | MISSOURI JOINT MUNI 5.00% | CUSIP: 606092RP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3563466.55   | 0.48%             | 2051-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRA. 5.00% | RHODE ISLAND INFRA. 5.00% | CUSIP: 76223MEA6<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |    500000 | PA      | $529440.65    | 0.07%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.25% | NEW YORK CITY TRANS 5.25% | CUSIP: 64972JXQ6<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2840000 | PA      | $2999688.66   | 0.40%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MOBILE COUNTY BOARD 5.00% | MOBILE COUNTY BOARD 5.00% | CUSIP: 607298BQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $725104.04    | 0.10%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY VAR   | CITY OF NEW YORK NY VAR   | CUSIP: 64966ML98<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6000000.00   | 0.81%             | 2047-12-01      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 3.00% | NEW YORK CITY TRANS 3.00% | CUSIP: 64971XUL0<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   4750000 | PA      | $3499853.68   | 0.47%             | 2048-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR  | CALIFORNIA COMMUNITY VAR  | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1092890.92   | 0.15%             | 2052-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICU 5.00% | STATE OF CONNECTICU 5.00% | CUSIP: 207758U84<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    565000 | PA      | $624709.54    | 0.08%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI DEV. FIN. 5.50%  | MISSOURI DEV. FIN. 5.50%  | CUSIP: 60636SMG6<br>LEI: 549300JD8BCNBV9D3830 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1138447.76   | 0.15%             | 2050-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HOWELL PUBLIC SCHOO 5.00% | HOWELL PUBLIC SCHOO 5.00% | CUSIP: 443114WR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078840.40   | 0.14%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOWELL PUBLIC SCHOO 5.00% | HOWELL PUBLIC SCHOO 5.00% | CUSIP: 443114WT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $797719.65    | 0.11%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TAMPA BAY WATER 5.00%     | TAMPA BAY WATER 5.00%     | CUSIP: 875124GC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1766681.35   | 0.24%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 4.00% | COUNTY OF MIAMI-DAD 4.00% | CUSIP: 59334DJL9<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2512077.25   | 0.34%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 249182QT6<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1046054.10   | 0.14%             | 2041-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA 5.00%  | PORT OF SEATTLE WA 5.00%  | CUSIP: 735389V21<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   3570000 | PA      | $3818622.30   | 0.51%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADAMS COUNTY SCHOOL 5.25% | ADAMS COUNTY SCHOOL 5.25% | CUSIP: 005626TB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4775000 | PA      | $4828013.48   | 0.65%             | 2040-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO O HARE INTL 5.00% | CHICAGO O HARE INTL 5.00% | CUSIP: 167593L34<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1635326.08   | 0.22%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIMESTONE COUNTY WA 5.00% | LIMESTONE COUNTY WA 5.00% | CUSIP: 532656CU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528349.75    | 0.07%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR  | CALIFORNIA COMMUNITY VAR  | CUSIP: 13013JFW1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3245994.60   | 0.44%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY SCH 5.00% | MARICOPA COUNTY SCH 5.00% | CUSIP: 567337UD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $776641.31    | 0.10%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & 5.00% | TRIBOROUGH BRIDGE & 5.00% | CUSIP: 896032BA6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   6300000 | PA      | $6467108.13   | 0.87%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHORI VAR | ILLINOIS FIN. AUTHORI VAR | CUSIP: 45204FM77<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059437.00   | 0.14%             | 2043-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| TWIN RIVERS UNIFIED 5.00% | TWIN RIVERS UNIFIED 5.00% | CUSIP: 90171TKC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1649214.88   | 0.22%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF GLENS FALLS 4.00% | CITY OF GLENS FALLS 4.00% | CUSIP: 378820SR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4044336.00   | 0.54%             | 2027-02-26      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AURORA IL W 4.00% | CITY OF AURORA IL W 4.00% | CUSIP: 051690FT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $781776.80    | 0.10%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HOUSING & FIN 5.00% | IDAHO HOUSING & FIN 5.00% | CUSIP: 45130AAW5<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2075546.00   | 0.28%             | 2047-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHOENIX CIV 5.00% | CITY OF PHOENIX CIV 5.00% | CUSIP: 71883MQP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2716922.50   | 0.36%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS COUNTY SC 0.00% | CLACKAMAS COUNTY SC 0.00% | CUSIP: 179093LF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2235000 | PA      | $1304219.05   | 0.18%             | 2038-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CITY OF JOLIET IL W 5.25% | CITY OF JOLIET IL W 5.25% | CUSIP: 479790KX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3102219.30   | 0.42%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COUNTY OF LEE FL AI 5.25% | COUNTY OF LEE FL AI 5.25% | CUSIP: 523470HV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2379089.48   | 0.32%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MUNICIPALITY OF ANC 5.50% | MUNICIPALITY OF ANC 5.50% | CUSIP: 033252BH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2120000 | PA      | $2366396.79   | 0.32%             | 2033-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN. AUTHORI 5.25% | PUBLIC FIN. AUTHORI 5.25% | CUSIP: 74442PK95<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010424.40   | 0.14%             | 2050-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DENVER HEALTH & HO 5.125% | DENVER HEALTH & HO 5.125% | CUSIP: 24918EEN6<br>LEI: 549300WFV5S7GIR4OS67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $987214.50    | 0.13%             | 2050-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| COUNTY OF OHIO WV S 5.25% | COUNTY OF OHIO WV S 5.25% | CUSIP: 67732PEZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1579464.90   | 0.21%             | 2045-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL IMPROVEME 5.00% | MUNICIPAL IMPROVEME 5.00% | CUSIP: 5445875W4<br>LEI: 549300ZJ0YLTZNSR8F57 | Long             | DBT              | MUN               | US        |    750000 | PA      | $769175.03    | 0.10%             | 2055-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF BROWARD F 5.00% | COUNTY OF BROWARD F 5.00% | CUSIP: 114894YC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1802369.10   | 0.24%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF CALIF 5.00% | UNIVERSITY OF CALIF 5.00% | CUSIP: 91412HWX7<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1533899.91   | 0.21%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK COUNTY PUBLIC 5.00% | CLARK COUNTY PUBLIC 5.00% | CUSIP: 181108F71<br>LEI: 549300YCT5BMOWZSMQ97 | Long             | DBT              | MUN               | US        |    850000 | PA      | $922778.36    | 0.12%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON STATE H 4.375% | WASHINGTON STATE H 4.375% | CUSIP: 939783Z82<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1475730.90   | 0.20%             | 2033-01-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| KENTUCKY STATE PROP 5.00% | KENTUCKY STATE PROP 5.00% | CUSIP: 49151F6S4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1803753.21   | 0.24%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEALTH CARE AUTHORI 5.00% | HEALTH CARE AUTHORI 5.00% | CUSIP: 44706HDY0<br>LEI: 254900QP8DQFH746YJ31 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4449722.40   | 0.60%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH LYON COMMUNIT 5.00% | SOUTH LYON COMMUNIT 5.00% | CUSIP: 838736ZK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1152744.12   | 0.15%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SHREVEPORT 5.00%  | CITY OF SHREVEPORT 5.00%  | CUSIP: 825485VD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5018694.50   | 0.67%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO O HARE INTL 5.00% | CHICAGO O HARE INTL 5.00% | CUSIP: 1675937Z9<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2123574.80   | 0.28%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00% | PORT AUTHORITY OF N 5.00% | CUSIP: 73358XNM0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2768819.00   | 0.37%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPA 5.00% | CALIFORNIA MUNICIPA 5.00% | CUSIP: 13048VMV7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1409875.99   | 0.19%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED 5.125% | NORTH CAROLINA MED 5.125% | CUSIP: 65820YVD5<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    535000 | PA      | $556998.08    | 0.07%             | 2045-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CHICAGO PARK DISTRI 5.00% | CHICAGO PARK DISTRI 5.00% | CUSIP: 1676155L3<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1530577.35   | 0.21%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEE COUNTY SCHOOL B 5.00% | LEE COUNTY SCHOOL B 5.00% | CUSIP: 523494RX2<br>LEI: 54930014H67DITNA1Q29 | Long             | DBT              | MUN               | US        |   3410000 | PA      | $3723688.97   | 0.50%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRUMAN INDEPENDENT 5.00%  | TRUMAN INDEPENDENT 5.00%  | CUSIP: 898014DB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $843781.71    | 0.11%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MEDI 5.00% | NORTH CAROLINA MEDI 5.00% | CUSIP: 65820YVC7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    910000 | PA      | $969080.39    | 0.13%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS COUNTY SC 0.00% | CLACKAMAS COUNTY SC 0.00% | CUSIP: 179093LA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $157059.19    | 0.02%             | 2038-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GREATER NEW ORLEANS 5.00% | GREATER NEW ORLEANS 5.00% | CUSIP: 39225PBC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $482677.78    | 0.06%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS EDUCATIONA 3.90% | ILLINOIS EDUCATIONA 3.90% | CUSIP: 45201QDA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1753451.59   | 0.24%             | 2036-11-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.00% | NEW YORK STATE DORM 5.00% | CUSIP: 64990FUQ5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007034.00   | 0.27%             | 2043-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA TURNPIKE VAR | PENNSYLVANIA TURNPIKE VAR | CUSIP: 709225RH1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2575000 | PA      | $2855848.30   | 0.38%             | 2045-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO VAR         | STATE OF OHIO VAR         | CUSIP: 67756CFH6<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2700000.00   | 0.36%             | 2051-01-15      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY G 5.00% | BLACK BELT ENERGY G 5.00% | CUSIP: 09182TEK9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4240433.20   | 0.57%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & 5.25% | TRIBOROUGH BRIDGE & 5.25% | CUSIP: 896032BB4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   3295000 | PA      | $3429692.02   | 0.46%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OAKLAND UNIVERSITY 5.00%  | OAKLAND UNIVERSITY 5.00%  | CUSIP: 673588MK2<br>LEI: 549300O12XLW6O082V10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035681.70   | 0.14%             | 2047-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF 5.00%  | SCHOOL DISTRICT OF 5.00%  | CUSIP: 115065E91<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   5575000 | PA      | $5839856.54   | 0.78%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS PORT 5.00%  | MASSACHUSETTS PORT 5.00%  | CUSIP: 575896PW9<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   2725000 | PA      | $2728554.49   | 0.37%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO MIDWAY INTL 5.00% | CHICAGO MIDWAY INTL 5.00% | CUSIP: 167562TE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2706161.00   | 0.36%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRA. 5.00% | RHODE ISLAND INFRA. 5.00% | CUSIP: 76223MDZ2<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1554761.70   | 0.21%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE C 5.00% | CITY OF SALT LAKE C 5.00% | CUSIP: 795576JU2<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5323810.00   | 0.71%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS BAY T 0.00% | MASSACHUSETTS BAY T 0.00% | CUSIP: 575579ZP5<br>LEI: 549300D2U0XBUXGX8P68 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2269107.75   | 0.30%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO O HARE INTL 5.00% | CHICAGO O HARE INTL 5.00% | CUSIP: 167593L59<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3455000 | PA      | $3453362.68   | 0.46%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL G VAR | MAIN STREET NATURAL G VAR | CUSIP: 56035DJJ2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1573588.05   | 0.21%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW ORLEANS 5.00% | CITY OF NEW ORLEANS 5.00% | CUSIP: 64763FH77<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3013367.70   | 0.40%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHFIELD PUBLIC S 5.25% | SOUTHFIELD PUBLIC S 5.25% | CUSIP: 844215SP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1253777.88   | 0.17%             | 2050-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WEST BLOOMFIELD SCH 5.00% | WEST BLOOMFIELD SCH 5.00% | CUSIP: 951452SX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1865279.68   | 0.25%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTICA COMMUNITY SCH 5.00% | UTICA COMMUNITY SCH 5.00% | CUSIP: 9176612M1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $1000169.04   | 0.13%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL IMPROVEME 5.00% | MUNICIPAL IMPROVEME 5.00% | CUSIP: 5445875Z7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1052016.10   | 0.14%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON LOCAL S 3.125% | WASHINGTON LOCAL S 3.125% | CUSIP: 939483GJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1446414.80   | 0.19%             | 2051-12-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| LITTLE ROCK SCHOOL 2.00%  | LITTLE ROCK SCHOOL 2.00%  | CUSIP: 537428Z23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2610000 | PA      | $2223999.27   | 0.30%             | 2034-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64971XDQ8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3450000 | PA      | $3552762.39   | 0.48%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCATIONA 5.00% | COLORADO EDUCATIONA 5.00% | CUSIP: 19645R6B2<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2525758.75   | 0.34%             | 2040-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF COLORADO 4.00%   | STATE OF COLORADO 4.00%   | CUSIP: 196711RP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5012797.00   | 0.67%             | 2037-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DE 2.25% | NEW YORK LIBERTY DE 2.25% | CUSIP: 649519EK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3669772.50   | 0.49%             | 2041-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CORRIDOR TRAN STP | ALAMEDA CORRIDOR TRAN STP | CUSIP: 010869JQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $849189.90    | 0.11%             | 2050-10-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF BROWARD F 5.00% | COUNTY OF BROWARD F 5.00% | CUSIP: 114894XT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2523035.00   | 0.34%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 249182LV6<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2035076.00   | 0.27%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966QBF6<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3072498.00   | 0.41%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEXAS TURNP 5.00% | CENTRAL TEXAS TURNP 5.00% | CUSIP: 88283KCE6<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1954876.14   | 0.26%             | 2039-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE COUNTY REG 5.00% | DELAWARE COUNTY REG 5.00% | CUSIP: 246045MJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $821435.41    | 0.11%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES 5.00% | CITY OF LOS ANGELES 5.00% | CUSIP: 544445FE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3098800.20   | 0.42%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.25% | NEW YORK STATE DORM 5.25% | CUSIP: 64990FJG0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2605155.25   | 0.35%             | 2039-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & 5.00% | TRIBOROUGH BRIDGE & 5.00% | CUSIP: 896035DE9<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2975000 | PA      | $3036886.84   | 0.41%             | 2054-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LAKELAND FL 5.00% | CITY OF LAKELAND FL 5.00% | CUSIP: 511665KR1<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036368.70   | 0.14%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FA 5.00% | LOUISIANA PUBLIC FA 5.00% | CUSIP: 546399DV5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000544.00   | 0.27%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCHOOL F 4.00% | CALIFORNIA SCHOOL F 4.00% | CUSIP: 13059THA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $853723.29    | 0.11%             | 2055-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ADAMS COUNTY SCHOOL 5.25% | ADAMS COUNTY SCHOOL 5.25% | CUSIP: 005626SY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $228848.45    | 0.03%             | 2040-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF FORT MYERS 5.25%  | CITY OF FORT MYERS 5.25%  | CUSIP: 348172VX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3145000 | PA      | $3263150.42   | 0.44%             | 2053-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RICHMOND COUNTY BOA 5.00% | RICHMOND COUNTY BOA 5.00% | CUSIP: 764581KN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1164406.97   | 0.16%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF KANSAS CITY 4.00% | CITY OF KANSAS CITY 4.00% | CUSIP: 48507TLW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $935125.60    | 0.13%             | 2049-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE PUBLIC B 5.00% | PROVIDENCE PUBLIC B 5.00% | CUSIP: 74381MDE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $813987.12    | 0.11%             | 2037-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHOR 5.00% | INDIANA FIN. AUTHOR 5.00% | CUSIP: 45471FAW1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1057116.19   | 0.14%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEALTH & EDUCATIONA 5.00% | HEALTH & EDUCATIONA 5.00% | CUSIP: 60636AMM2<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2501856.00   | 0.34%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF MAS 5.00% | COMMONWEALTH OF MAS 5.00% | CUSIP: 57604TKC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2565223.00   | 0.34%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF JEFFERSON 5.50% | COUNTY OF JEFFERSON 5.50% | CUSIP: 472682ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2425000 | PA      | $2521433.76   | 0.34%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS STATE TOLL 5.00% | ILLINOIS STATE TOLL 5.00% | CUSIP: 452252LE7<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6499449.45   | 0.87%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR | BLACK BELT ENERGY GAS VAR | CUSIP: 09182NCB4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010131.00   | 0.14%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966Q6Q8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1523673.30   | 0.20%             | 2051-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PATRIOTS ENERGY GRP. VAR  | PATRIOTS ENERGY GRP. VAR  | CUSIP: 70342PAR5<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2135007.40   | 0.29%             | 2054-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF AIKEN SC 4.00%    | CITY OF AIKEN SC 4.00%    | CUSIP: 008860FR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $907430.40    | 0.12%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 5.00% | DISTRICT OF COLUMBI 5.00% | CUSIP: 25476FE53<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1930000 | PA      | $2107106.26   | 0.28%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IPS MULTI-SCHOOL BL 5.00% | IPS MULTI-SCHOOL BL 5.00% | CUSIP: 46263RTX3<br>LEI: 549300BHLK1DUJUYPM91 | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1300451.33   | 0.17%             | 2043-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF CONNE 5.25% | UNIVERSITY OF CONNE 5.25% | CUSIP: 914225HH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3063806.40   | 0.41%             | 2047-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE/JEFFERSO 5.00% | LOUISVILLE/JEFFERSO 5.00% | CUSIP: 54659LCJ1<br>LEI: 5493006Y7F6PDF56ZN56 | Long             | DBT              | MUN               | US        |    600000 | PA      | $606617.82    | 0.08%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF BEXAR TX 4.00%  | COUNTY OF BEXAR TX 4.00%  | CUSIP: 0882815N6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4532295.50   | 0.61%             | 2046-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC UTILITY DIST 5.00% | PUBLIC UTILITY DIST 5.00% | CUSIP: 082869PK8<br>LEI: NIDQB523D1YQDZ8VK594 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1133356.29   | 0.15%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE OF SCHAUMBU 4.00% | VILLAGE OF SCHAUMBU 4.00% | CUSIP: 806347ME7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4991972.00   | 0.67%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5%    | STATE OF WASHINGTON 5%    | CUSIP: 939720WW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006321.30   | 0.14%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OGDEN CITY REDEVELO 5.00% | OGDEN CITY REDEVELO 5.00% | CUSIP: 67629TAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1529521.05   | 0.21%             | 2053-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROMA INDEPENDENT SC 5.00% | ROMA INDEPENDENT SC 5.00% | CUSIP: 775830SL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1541449.20   | 0.21%             | 2049-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.00% | NEW YORK STATE DORM 5.00% | CUSIP: 64990GBB7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    720000 | PA      | $728689.68    | 0.10%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE COUNTY E 5.25% | MIAMI-DADE COUNTY E 5.25% | CUSIP: 59333AGP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.27%             | 2026-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WATER A 5.25% | GREAT LAKES WATER A 5.25% | CUSIP: 39081JGQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031550.60   | 0.14%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HOWELL PUBLIC SCHOO 5.00% | HOWELL PUBLIC SCHOO 5.00% | CUSIP: 443114WQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085465.00   | 0.15%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PINAL COUNTY SCHOOL 5.00% | PINAL COUNTY SCHOOL 5.00% | CUSIP: 72220EFM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054257.40   | 0.14%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL WELD COUNTY 5.00% | CENTRAL WELD COUNTY 5.00% | CUSIP: 156024CT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1154378.72   | 0.15%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL WELD COUNTY 5.00% | CENTRAL WELD COUNTY 5.00% | CUSIP: 156024CU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020051.10   | 0.14%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA AUTHOR 6.00% | PHILADELPHIA AUTHOR 6.00% | CUSIP: 71781PBR0<br>LEI: 549300QY0NDOSR194J59 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2092637.40   | 0.28%             | 2045-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICU 5.00% | STATE OF CONNECTICU 5.00% | CUSIP: 207758Z89<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1657608.90   | 0.22%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF OAKLAND CA 5.00%  | CITY OF OAKLAND CA 5.00%  | CUSIP: 672240D39<br>LEI: 549300BRTTFKDQCGL048 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1286497.50   | 0.17%             | 2055-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA WATER RES. 4.50% | OKLAHOMA WATER RES. 4.50% | CUSIP: 67920Q7T9<br>LEI: 5493007CUNXW5UX11C71 | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4394030.52   | 0.59%             | 2050-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Northern Funds

**Signature:** Randal E. Rein

**Name of Signer:** Randal E. Rein

**Title:** Treasurer and Principal Financial Officer