# EDGAR Filing Document

**Accession Number:** 0000319676
**File Stem:** 0001752724-25-200870
**Filing Date:** 2025-8
**Character Count:** 109168
**Document Hash:** d9e315140c4a8765628d7acda99756ec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-200870.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-200870

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Calvert Management Series
- **CENTRAL INDEX KEY:** 0000319676

**ORGANIZATION NAME:**
- **EIN:** 526211999
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03101
- **FILM NUMBER:** 251248235

**BUSINESS ADDRESS:**
- **STREET 1:** 2050 M STREET NW
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036
- **BUSINESS PHONE:** 8002256265

**MAIL ADDRESS:**
- **STREET 1:** 2050 M STREET NW
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CALVERT TAX FREE RESERVES
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Calvert Responsible Municipal Income Fund (Series ID: S000005140)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014074 | Class A      | CTTLX           |
| C000160651 | Class C      | CTTCX           |
| C000160653 | Class I      | CTTIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Calvert Management Series

- **b. Investment Company Act file number:** 811-03101

- **c. CIK number of Registrant:** 0000319676

- **d. LEI of Registrant:** 549300JLDDCMBLNYVQ38

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

  - **Street Address 1:** 2050 M Street NW

  - **City:** Washington

  - **State:** DC

  - **Foreign country:** US

  - **Zip / Postal Code:** 20036

  - **Telephone number:** 202-238-2200

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

- **a. Name of Series:** Calvert Responsible Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000005140

- **c. LEI of Series:** 549300ZG1E6BAXLWCV59

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $394506648.85

**Total Liabilities:** $3933970.49

**Net Assets:** $390572678.36

**Delayed Delivery Securities:** $2369085.75

**Cash Not Reported:** $5369771.82

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -889.23000000 | **1-Year:** -13026.60000000 | **5-Year:** -62205.43000000 | **10-Year:** -137270.72000000 | **30-Year:** -33684.88000000

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

- **3-Month:** -42.96000000 | **1-Year:** -963.63000000 | **5-Year:** -2809.75000000 | **10-Year:** -4979.10000000 | **30-Year:** -500.16000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000160653 | -0.38%               | -0.38%               | 0.76%                |
| Class ID C000014074 | -0.40%               | -0.47%               | 0.74%                |
| Class ID C000160651 | -0.46%               | -0.54%               | 0.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-881672.65              | $-1905017.24                               |
| Month 2  | $-512335.85              | $-2310030.67                               |
| Month 3  | $-33563.44               | $1904979.47                                |

**Designated Index Information**

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

- **Index Identifier:** MBINDEX

### Schedule of Portfolio Investments

| Name                                                                            | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| District of Columbia Housing Finance Agency                                     | DIST OF COLUMBIA HSG FIN AGY MF HSG REVENUE                  | CUSIP: 25477PPS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2795629.63   | 0.72%             | 2026-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                     | WASHINGTON ST HSG FIN COMMISSION NONPROFIT REVENUE           | CUSIP: 93978LHE9<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034413.70   | 0.26%             | 2044-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                     | WASHINGTON ST HSG FIN COMMISSION                             | CUSIP: 93978UAA4<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   3982023 | PA      | $3742706.86   | 0.96%             | 2040-03-20      | Floating      | 4.08%                 | No            |                  2 | On Loan: No      |
| Kern Community College District                                                 | KERN CA CMNTY CLG DIST                                       | CUSIP: 492244GQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2216238.20   | 0.57%             | 2038-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                | MARICOPA CNTY AZ INDL DEV AUTH EDU REVENUE                   | CUSIP: 56681NGR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $472550.30    | 0.12%             | 2031-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp                                                   | SALES TAX SECURITIZATION CORP IL                             | CUSIP: 79467BFA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2863136.10   | 0.73%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                            | MASSACHUSETTS ST HSG FIN AGY HSG REVENUE                     | CUSIP: 57587GXH3<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1463270.21   | 0.37%             | 2038-12-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH HLTH FAC REVENUE                         | CUSIP: 45471CBR8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2520000 | PA      | $2384969.83   | 0.61%             | 2036-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH HLTH FAC REVENUE                         | CUSIP: 45471CBQ0<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1151292.31   | 0.29%             | 2035-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority Water Supply System Revenue                         | GREAT LAKES MI WTR AUTH WTR SPLY SYS REVENUE                 | CUSIP: 39081JGP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042354.20   | 0.27%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Denver City & County Housing Authority                                          | DENVER CO CITY & CNTY MF HSG REVENUE                         | CUSIP: 24917QBJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1950887.80   | 0.50%             | 2041-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                           | NEW YORK ST HSG FIN AGY                                      | CUSIP: 64987DM27<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1980000 | PA      | $1587809.72   | 0.41%             | 2039-11-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| City of Tacoma WA Electric System Revenue                                       | TACOMA WA ELEC SYS REVENUE                                   | CUSIP: 873519QM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3055590.90   | 0.78%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATURE CONSERVANCY (THE)                                                        | Nature Conservancy/The                                       | CUSIP: 63902HAH2<br>LEI: 549300GJ1IZME7V1JJ28 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1450000.00   | 0.37%             | 2025-07-01      | Fixed         | 0.79%                 | No            |                  2 | On Loan: No      |
| Larkspur-Corte Madera School District                                           | LARKSPUR-CORTE MADERA CA SCH DIST                            | CUSIP: 51724TCY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $368525.56    | 0.09%             | 2030-08-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                               | INDIANA ST HSG & CMNTY DEV AUTH SF MTGE REVENUE              | CUSIP: 45505TYA3<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010538.50   | 0.26%             | 2037-07-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                           | CUSIP: 12008ERH1<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    120000 | PA      | $119292.44    | 0.03%             | 2026-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Trinity Public Utilities District                                               | TRINITY CA PUBLIC UTILITIES DIST FING AUTH ELEC REVENUE      | CUSIP: 89656BBK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1089432.18   | 0.28%             | 2029-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Kansas City MO                                                          | KANSAS CITY MO SPL OBLG                                      | CUSIP: 485106MK1<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400043.08    | 0.10%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Passaic County Improvement Authority/The                                        | PASSAIC CNTY NJ IMPT AUTH CNTY GTD GOVTL LOAN REVENUE        | CUSIP: 702755DE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $933592.02    | 0.24%             | 2042-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                      | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TD75<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1221132.10   | 0.31%             | 2037-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JDD5<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4940000 | PA      | $5298991.78   | 1.36%             | 2054-10-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Utah Associated Municipal Power Systems                                         | UTAH ST ASSOCIATED MUNI PWR SYS REVENUE                      | CUSIP: 917328RU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $682757.07    | 0.17%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                | CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE     | CUSIP: 130536QV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $848865.00    | 0.22%             | 2025-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PZW8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10272.45     | 0.00%             | 2032-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH REVENUE                                  | CUSIP: 45506EMG5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1081021.50   | 0.28%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                     | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REV                  | CUSIP: 20774YUS4<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1119183.62   | 0.29%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Douglas County Public Utility District No 1 Wells Hydroelectric Project Revenue | DOUGLAS CNTY WA PUBLIC UTILITY DIST #1 WELLS HYDROELEC       | CUSIP: 259561TQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1965381.20   | 0.50%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of North Dakota                                                      | UNIV OF NORTH DAKOTA COPS                                    | CUSIP: 914724BN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1507137.60   | 0.39%             | 2048-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority Housing Revenue              | WISCONSIN ST HSG & ECON DEV AUTH HSG REVENUE                 | CUSIP: 9769044P4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1252915.50   | 0.32%             | 2054-11-01      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                              | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 65000B8M3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042282.40   | 0.27%             | 2040-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Berkeley County Public Service District                                         | BERKELEY CNTY WV PUBLIC SVC DIST WTR REVENUE                 | CUSIP: 084246NW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1135309.25   | 0.29%             | 2049-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Oregon City School District No 62                                               | CLACKAMAS CNTY OR SCH DIST #62C OREGON CITY                  | CUSIP: 179162LU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $785722.91    | 0.20%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue                | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE        | CUSIP: 93878YCS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $906517.10    | 0.23%             | 2047-07-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JEB8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4300000 | PA      | $4534768.82   | 1.16%             | 2055-08-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584YVR7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2480000 | PA      | $2435896.18   | 0.62%             | 2059-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Virginia Beach VA Storm Water Utility Revenue                           | VIRGINIA BEACH VA STORM WTR UTILITY REVENUE                  | CUSIP: 927747GM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2120000 | PA      | $1952627.27   | 0.50%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Snohomish County School District No 4 Lake Stevens                              | SNOHOMISH CNTY WA SCH DIST #4LAKE STEVENS                    | CUSIP: 833124QR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2180000 | PA      | $2183947.33   | 0.56%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JBL9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1567311.60   | 0.40%             | 2053-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UVD7<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1965596.80   | 0.50%             | 2026-06-01      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| Gretna Public Schools                                                           | SARPY CNTY NE SCH DIST #37                                   | CUSIP: 803770XB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1465621.06   | 0.38%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri              | MISSOURI ST HLTH & EDUCTNL FACS AUTH HLTH FACS REVENUE       | CUSIP: 60637AMG4<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1537754.58   | 0.39%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI STUDENT HSG REVENUE                       | CUSIP: 74439YCR0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    665000 | PA      | $688703.39    | 0.18%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Independent Cities Finance Authority                                            | INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE            | CUSIP: 45385LMH3<br>LEI: 549300ZZZYTBUL6FR983 | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1158072.92   | 0.30%             | 2034-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Howell Public Schools                                                           | HOWELL MI PUBLIC SCHS                                        | CUSIP: 443114WP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1379273.87   | 0.35%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI STUDENT HSG REVENUE                       | CUSIP: 74439YEW7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1159085.18   | 0.30%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grant County Public Utility District No 2 Priest Rapids Hydroelectric Project   | GRANT CNTY WA PUBLIC UTIL DIST #2 PRIEST RAPIDS HYDRO ELEC R | CUSIP: 387883A76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1614919.34   | 0.41%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Rios Community College District                                             | LOS RIOS CA CMNTY CLG DIST                                   | CUSIP: 545624PM4<br>LEI: 549300POMNL5W7FEFO13 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2011397.00   | 0.51%             | 2033-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLUEHUB LOAN FUND                                                               | BlueHub Loan Fund Inc                                        | CUSIP: 095623AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4499995.00   | 1.15%             | 2030-01-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                           | CUSIP: 12008ERM0<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100364.30    | 0.03%             | 2030-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Enterprise Development Authority                                     | CALIFORNIA ST ENTERPRISE DEV AUTH CHRT SCH REVENUE           | CUSIP: 13069AAX6<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513982.60    | 0.13%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Tech University System                                                    | TEXAS ST TECH UNIV REVENUES                                  | CUSIP: 882806KK7<br>LEI: 549300SPM8LGJKCQO195 | Long             | DBT              | MUN               | US        |   2135000 | PA      | $2258134.20   | 0.58%             | 2042-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                          | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | CUSIP: 64972EK32<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   3430000 | PA      | $3380225.90   | 0.87%             | 2060-11-01      | Floating      | 0.90%                 | No            |                  2 | On Loan: No      |
| Arizona State University                                                        | ARIZONA ST UNIV                                              | CUSIP: 0406636P6<br>LEI: 254900BLZ1MCZ5JLK411 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2127200.88   | 0.54%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1489660 | PA      | $1364741.14   | 0.35%             | 2039-08-20      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Arizona Board of Regents                                                        | ARIZONA BRD OF RGTS ST UNIV SYS REVENUE                      | CUSIP: 04048RQN9<br>LEI: 254900BLZ1MCZ5JLK411 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005496.60   | 0.51%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Santa Clara Valley Water District Safe Clean Water Revenue                      | SANTA CLARA VLY CA WTR DIST SAFE CLEAN WTR REVENUE           | CUSIP: 80168EAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $861036.56    | 0.22%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brookhaven Development Authority                                                | BROOKHAVEN DEV AUTH GA                                       | CUSIP: 113073AY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1965000 | PA      | $1688672.86   | 0.43%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57585BMC9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513985.10    | 0.13%             | 2050-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL Wastewater Transmission Revenue                              | CHICAGO IL WSTWTR TRANSMISSION REVENUE                       | CUSIP: 167727D94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050346.90   | 0.27%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATURE CONSERVANCY (THE)                                                        | Nature Conservancy/The                                       | CUSIP: 63902HAJ8<br>LEI: 549300GJ1IZME7V1JJ28 | Long             | DBT              | CORP              | US        |   1285000 | PA      | $1230717.64   | 0.32%             | 2026-07-01      | Fixed         | 0.94%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                   | MASSACHUSETTS ST EDUCTNL FING AUTH                           | CUSIP: 57563RTB5<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |    230000 | PA      | $241385.76    | 0.06%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hudson Yards Infrastructure Corp                                                | HUDSON YARDS INFRASTRUCTURE CORP NY 2ND INDENTURE REVENUE    | CUSIP: 44420RCC2<br>LEI: 549300EE2HJ67TPURL87 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2858461.20   | 0.73%             | 2041-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                   | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV             | CUSIP: 57419RWU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $891792.50    | 0.23%             | 2050-07-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| City of Henderson KY                                                            | HENDERSON KY EXEMPT FACS REVENUE                             | CUSIP: 425099AC2<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1502802.72   | 0.38%             | 2032-01-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Long Beach Unified School District                                              | LONG BEACH CA UNIF SCH DIST                                  | CUSIP: 542433GS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997464.10    | 0.26%             | 2025-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                       | NEW JERSEY ST ECON DEV AUTH                                  | CUSIP: 64578EMS3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517101.10    | 0.13%             | 2033-03-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Village of Bellwood IL                                                          | BELLWOOD IL TAX INCREMENT REVENUE                            | CUSIP: 080031AH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $956843.10    | 0.24%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                               | INDIANA ST HSG & CMNTY DEV AUTH SF MTGE REVENUE              | CUSIP: 45505TYB1<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999664.40    | 0.26%             | 2042-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Navajo County Unified School District No 27 Kayenta                             | NAVAJO CNTY AZ UNIF SCH DIST #27 KAYENTA IMPACT AID REV      | CUSIP: 639147AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1464095.03   | 0.37%             | 2035-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Oklahoma Water Resources Board                                                  | OKLAHOMA ST WTR RES BRD ST LOAN PROGRAM REVENUE              | CUSIP: 67920Q5K0<br>LEI: 5493007CUNXW5UX11C71 | Long             | DBT              | MUN               | US        |   3150000 | PA      | $2895548.99   | 0.74%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Jackson County Consolidated School District No 4                                | JACKSON CNTY MO CONSOL SCH DIST #4                           | CUSIP: 467484RX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3425000 | PA      | $3501497.38   | 0.90%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE             | CUSIP: 13048RAM9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $993615.90    | 0.25%             | 2053-09-01      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                       | MASSACHUSETTS ST TRANSPRTN FUND REVENUE                      | CUSIP: 57604TKE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017209.50   | 0.26%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                             | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QSB0<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   2560000 | PA      | $2420785.66   | 0.62%             | 2042-10-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH HLTH SYS REVENUE                         | CUSIP: 45470YFF3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1301466.88   | 0.33%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Howell Public Schools                                                           | HOWELL MI PUBLIC SCHS                                        | CUSIP: 443114WQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1580913.75   | 0.40%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA                                                              | ATLANTA GA                                                   | CUSIP: 047772J82<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3822166.60   | 0.98%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii                                                                 | HAWAII ST                                                    | CUSIP: 419792LR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004405.80   | 0.51%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kern Community College District                                                 | KERN CA CMNTY CLG DIST                                       | CUSIP: 492244GS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1311442.68   | 0.34%             | 2040-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust/The                                             | MASSACHUSETTS ST CLEAN WTR TRUST                             | CUSIP: 575829MQ6<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |    700000 | PA      | $741036.73    | 0.19%             | 2042-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Seattle Housing Authority                                                       | SEATTLE WA HSG AUTH                                          | CUSIP: 812636PB8<br>LEI: 5493003LM6XXXMFX5M88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012279.20   | 0.26%             | 2030-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Independent Cities Finance Authority                                            | INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE            | CUSIP: 45385LNC3<br>LEI: 549300ZZZYTBUL6FR983 | Long             | DBT              | MUN               | US        |    500000 | PA      | $451478.70    | 0.12%             | 2031-06-15      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                      | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505QR0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1977126.00   | 0.51%             | 2039-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                       | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XDV5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1286358.60   | 0.33%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County School District No 403 Renton                                       | KING CNTY WA SCH DIST #403 RENTON                            | CUSIP: 495080WM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1221776.13   | 0.31%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Franklin OH                                                           | FRANKLIN CNTY OH HLTH CARE FACS REVENUE                      | CUSIP: 353180MF6<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1443956.85   | 0.37%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of South Carolina                                                    | UNIV OF SOUTH CAROLINA SC HGREDU REVENUE                     | CUSIP: 913367FN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2485000 | PA      | $2533974.88   | 0.65%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                            | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TNK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $244764.60    | 0.06%             | 2036-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE             | CUSIP: 13048RAL1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000208.60   | 0.51%             | 2041-10-01      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| Douglas County Public Utility District No 1 Wells Hydroelectric Project Revenue | DOUGLAS CNTY WA PUBLIC UTILITY DIST #1 WELLS HYDROELEC       | CUSIP: 259561TR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1947506.80   | 0.50%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                            | MASSACHUSETTS ST HSG FIN AGY HSG REVENUE                     | CUSIP: 57587ANE4<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    550000 | PA      | $539225.01    | 0.14%             | 2028-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UKB3<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   4460000 | PA      | $4465854.20   | 1.14%             | 2036-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp                                    | NEW YORK ST ENVRNMNTL FACS CORP REVENUE                      | CUSIP: 64985HR66<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3122677.80   | 0.80%             | 2052-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Independent Cities Finance Authority                                            | INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE            | CUSIP: 45385LMN0<br>LEI: 549300ZZZYTBUL6FR983 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1046443.19   | 0.27%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Collier County Industrial Development Authority                                 | COLLIER CNTY FL INDL DEV AUTH                                | CUSIP: 194641BE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3242805.60   | 0.83%             | 2054-10-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Seattle Housing Authority                                                       | SEATTLE WA HSG AUTH                                          | CUSIP: 812636PA0<br>LEI: 5493003LM6XXXMFX5M88 | Long             | DBT              | MUN               | US        |    500000 | PA      | $510393.35    | 0.13%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Tacoma WA Electric System Revenue                                       | TACOMA WA ELEC SYS REVENUE                                   | CUSIP: 873519QY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $915078.47    | 0.23%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Valley State University                                                   | GRAND VLY MI ST UNIV REVENUE                                 | CUSIP: 386545LB1<br>LEI: 5493004492FRREYG5M95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012070.80   | 0.26%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Niagara Area Development Corp                                                   | NIAGARA NY AREA DEV CORP SOLID WASTE DISP FAC REVENUE        | CUSIP: 653542AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1814426.40   | 0.46%             | 2042-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JEA0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4134937.20   | 1.06%             | 2055-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                      | MICHIGAN ST FIN AUTH ACT 38 FACS SENIOR REVEUE               | CUSIP: 59447NAY2<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1145047.53   | 0.29%             | 2041-02-28      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                   | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV             | CUSIP: 57419RWS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1486482.80   | 0.38%             | 2040-07-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                             | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QKH5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1025000 | PA      | $930541.74    | 0.24%             | 2028-10-01      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles CA                                                          | LOS ANGELES CA                                               | CUSIP: 544351QR3<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3032815.50   | 0.78%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cass County Joint Water Resource District                                       | CASS CNTY ND JT WTR RESOURCE DIST                            | CUSIP: 14805PBA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1250536.13   | 0.32%             | 2027-04-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                      | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505SM9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2160000 | PA      | $2158898.18   | 0.55%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL Waterworks Revenue                                           | CHICAGO IL WTRWKS REVENUE                                    | CUSIP: 167736W94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049871.20   | 0.27%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH REVENUE                                  | CUSIP: 45506EMH3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1927237.14   | 0.49%             | 2041-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Center City MN                                                          | CENTER CITY MN HLTH CARE FACSREVENUE                         | CUSIP: 151452CQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1180747.18   | 0.30%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Waterbury Housing Authority                                                     | WATERBURY CT HSG AUTH MF HSG REVENUE                         | CUSIP: 941260AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1477652.70   | 0.38%             | 2042-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                   | CMNTY DEV ADMIN MD MF DEV REVENUE                            | CUSIP: 20364NCJ4<br>LEI: 549300LCO2FLSSVFFR64 | Long             | DBT              | MUN               | US        |   3970000 | PA      | $3774194.04   | 0.97%             | 2044-02-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| New York Power Authority                                                        | NEW YORK ST PWR AUTH GREEN TRANSMISSION PROJ REVENUE         | CUSIP: 65000XBQ2<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1625958.90   | 0.42%             | 2041-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| South Bayside Waste Management Authority                                        | S BAYSIDE CA WST MGMT AUTH SOL WST ENTERPRISE REVENUE        | CUSIP: 83646ACU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $16072.69     | 0.00%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                           | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AJ99<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1723113.60   | 0.44%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                       | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP HOSP REVENUE      | CUSIP: 87638QSG5<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2152582.60   | 0.55%             | 2052-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp                                                               | UTAH ST HSG CORP SF MTGE REVENUE                             | CUSIP: 9174366X0<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    755000 | PA      | $755365.12    | 0.19%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Southeastern Pennsylvania Transportation Authority                              | S ESTRN PA TRANSPRTN AUTH                                    | CUSIP: 842039FK0<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3214431.00   | 0.82%             | 2039-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Riverside Community College District                                            | RIVERSIDE CA CMNTY CLG DIST                                  | CUSIP: 76886PKV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1169024.75   | 0.30%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                             | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                | CUSIP: 97712DQR0<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3663265.20   | 0.94%             | 2039-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri              | MISSOURI ST HLTH & EDUCTNL FACS AUTH HLTH FACS REVENUE       | CUSIP: 60637AMK5<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1105000 | PA      | $933792.52    | 0.24%             | 2049-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2878296 | PA      | $2789929.54   | 0.71%             | 2036-09-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Antelope Valley Community College District                                      | ANTELOPE VLY CA CMNTY CLG DIST                               | CUSIP: 03667PHZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3240282.00   | 0.83%             | 2042-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                              | MARYLAND ST ECON DEV CORP STUDENT HSG REVENUE                | CUSIP: 57420VSM6<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047882.10   | 0.27%             | 2043-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH MOBILE HOME PARK REVENUE         | CUSIP: 13049SCK8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1291139.96   | 0.33%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WAW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2486264 | PA      | $2308418.18   | 0.59%             | 2041-10-20      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| Health Care Authority of the City of Huntsville/The                             | HUNTSVILLE AL HLTH CARE AUTH REVENUE                         | CUSIP: 44706HDX2<br>LEI: 254900QP8DQFH746YJ31 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5403292.00   | 1.38%             | 2053-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                           | SAN ANTONIO TX EDU FACS CORP REVENUE                         | CUSIP: 796247DR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $916255.60    | 0.23%             | 2029-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                           | SAN ANTONIO TX EDU FACS CORP REVENUE                         | CUSIP: 796247DP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $573357.60    | 0.15%             | 2027-04-01      | Fixed         | 2.19%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                          | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | CUSIP: 64972ESA8<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    990000 | PA      | $832603.07    | 0.21%             | 2032-11-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| South Bayside Waste Management Authority                                        | S BAYSIDE CA WST MGMT AUTH SOL WST ENTERPRISE REVENUE        | CUSIP: 83646ACS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15940.72     | 0.00%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JDG8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1660000 | PA      | $1759958.73   | 0.45%             | 2054-11-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Illinois Educational Facilities Authority                                       | ILLINOIS ST EDUCTNL FACS AUTH                                | CUSIP: 45201QCZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999281.70    | 0.26%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maine State Housing Authority                                                   | MAINE ST HSG AUTH MTGE PURCHASE                              | CUSIP: 56052FYS8<br>LEI: 549300SO05LH6D240016 | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1480752.53   | 0.38%             | 2042-11-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Los Angeles Housing Authority                                                   | LOS ANGELES CA HSG AUTH MF HSG REVENUE                       | CUSIP: 544562CP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $1954060.46   | 0.50%             | 2034-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| EP Tuscany Zaragosa PFC                                                         | EP TUSCANY ZARAGOSA PFC TX                                   | CUSIP: 29414WAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4924051.00   | 1.26%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FW Texas Street Public Facility Corp                                            | FW TEXAS STREET PUBLIC FAC CORP RSDL DEV REVENUE             | CUSIP: 30322SAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2486648.25   | 0.64%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                          | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | CUSIP: 64972ERZ4<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $1727094.60   | 0.44%             | 2032-05-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                               | OREGON ST FACS AUTH REVENUE                                  | CUSIP: 68608JYR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $175371.31    | 0.04%             | 2027-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                       | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 57421CGW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $185326.02    | 0.05%             | 2044-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH MOBILE HOME PARK REVENUE         | CUSIP: 13049SGA6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $884522.80    | 0.23%             | 2044-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                              | DETROIT MI                                                   | CUSIP: 2510936A3<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    600000 | PA      | $657211.32    | 0.17%             | 2032-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Power Authority                                                        | NEW YORK ST PWR AUTH GREEN TRANSMISSION PROJ REVENUE         | CUSIP: 65000XBR0<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073992.70   | 0.27%             | 2042-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Mesa AZ Utility System Revenue                                          | MESA AZ UTILITY SYS REVENUE                                  | CUSIP: 590545TZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1176229.80   | 0.30%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                      | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447THE6<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1627772.94   | 0.42%             | 2046-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Berkeley County Public Service District                                         | BERKELEY CNTY WV PUBLIC SVC DIST WTR REVENUE                 | CUSIP: 084246NT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $371307.74    | 0.10%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cuyahoga Metropolitan Housing Authority                                         | CUYAHOGA OH MET HSG AUTH REVENUE                             | CUSIP: 232394BM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1090009.00   | 0.28%             | 2031-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                                            | JEFFERSON CNTY AL SWR REVENUE WARRANTS                       | CUSIP: 472682ZK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1584238.95   | 0.41%             | 2040-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                     | OHIO ST HGR EDUCTNL FAC COMMISSION                           | CUSIP: 67756DM52<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4090061.60   | 1.05%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Educational Facilities Authority                                       | ILLINOIS ST EDUCTNL FACS AUTH                                | CUSIP: 45201QCY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009715.80   | 0.26%             | 2036-11-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                       | NEW JERSEY ST ECON DEV AUTH                                  | CUSIP: 64578EMQ7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    500000 | PA      | $514388.90    | 0.13%             | 2031-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Modesto High School District                                                    | MODESTO CA HIGH SCH DIST STANISLAUS CNTY                     | CUSIP: 607743LY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1640215.04   | 0.42%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                            | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917THK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20153.55     | 0.01%             | 2036-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                             | CALIFORNIA ST                                                | CUSIP: 13063CA34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006371.40   | 0.26%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Pasadena CA                                                             | PASADENA CA                                                  | CUSIP: 70218GBB0<br>LEI: 5493007ZF3ZMBUWLWB58 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3164169.90   | 0.81%             | 2051-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Wisconsin Hospitals & Clinics                                     | UNIV HOSPS & CLINICS AUTH WI                                 | CUSIP: 915260DS9<br>LEI: 549300O76DW14JGO7224 | Long             | DBT              | MUN               | US        |    590000 | PA      | $558737.79    | 0.14%             | 2028-04-01      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                             | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 708796U47<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    930000 | PA      | $916057.35    | 0.23%             | 2035-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                       | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 57421CGY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $937372.22    | 0.24%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clairton Municipal Authority                                                    | CLAIRTON PA MUNI AUTH SWR REVENUE                            | CUSIP: 179630DM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1646800.58   | 0.42%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Vail CO                                                                 | VAIL CO COPS                                                 | CUSIP: 91878DAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1290069.50   | 0.33%             | 2050-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI EDU REVENUE                               | CUSIP: 74442EGT1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $866781.20    | 0.22%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                              | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64985SJV6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    225000 | PA      | $238440.98    | 0.06%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Tacoma WA Sewer Revenue                                                 | TACOMA WA SWR REVENUE                                        | CUSIP: 873545KW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2375000 | PA      | $2095131.66   | 0.54%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Larkspur-Corte Madera School District                                           | LARKSPUR-CORTE MADERA CA SCH DIST                            | CUSIP: 51724TCZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $347337.44    | 0.09%             | 2031-08-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                       | NEW JERSEY ST ECON DEV AUTH                                  | CUSIP: 64578EMR5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    500000 | PA      | $515454.65    | 0.13%             | 2032-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                 | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | CUSIP: 64972GC28<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017051.40   | 0.26%             | 2047-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                      | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505TJ5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974065.50    | 0.25%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Wisconsin Hospitals & Clinics                                     | UNIV HOSPS & CLINICS AUTH WI                                 | CUSIP: 915260FR9<br>LEI: 549300O76DW14JGO7224 | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1310349.71   | 0.34%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                               | OREGON ST FACS AUTH REVENUE                                  | CUSIP: 68608JYT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $250822.52    | 0.06%             | 2029-07-01      | Fixed         | 2.43%                 | No            |                  2 | On Loan: No      |
| Manteca Unified School District                                                 | MANTECA CA UNIF SCH DIST                                     | CUSIP: 564538JL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2467745.67   | 0.63%             | 2045-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                          | VIRGINIA ST HSG DEV AUTH                                     | CUSIP: 92812WLB8<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4002269.20   | 1.02%             | 2027-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Berkeley County Public Service District                                         | BERKELEY CNTY WV PUBLIC SVC DIST WTR REVENUE                 | CUSIP: 084246NS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $837040.55    | 0.21%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                       | MASSACHUSETTS ST TRANSPRTN FUND REVENUE                      | CUSIP: 57604TKC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010224.70   | 0.26%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                   | OHIO ST PRIVATE ACTIVITY REVENUE                             | CUSIP: 67759YAM9<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000816.00   | 0.26%             | 2030-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Oregon Housing & Community Services Department                         | OREGON ST HSG & CMNTY SVCS DEPT MF REVENUE                   | CUSIP: 68608ENJ7<br>LEI: 549300N3PYWYJ0Z8N757 | Long             | DBT              | MUN               | US        |   2145000 | PA      | $2016891.59   | 0.52%             | 2043-11-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Stockton Unified School District                                                | STOCKTON CA UNIF SCH DIST                                    | CUSIP: 861419G78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1611796.35   | 0.41%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                      | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505ZC3<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4130188.40   | 1.06%             | 2036-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PZZ1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    765000 | PA      | $740722.57    | 0.19%             | 2032-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Carmel IN Waterworks Revenue                                            | CARMEL IN WTRWKS REVENUE                                     | CUSIP: 143321LQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1404309.23   | 0.36%             | 2051-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Avon Community School Building Corp                                             | AVON IN CMNTY SCH BLDG CORP                                  | CUSIP: 054071PE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1082217.30   | 0.28%             | 2041-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                           | NEW YORK ST HSG FIN AGY AFFORDABLE HSG REVENUE               | CUSIP: 64987JSG7<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    880000 | PA      | $867497.22    | 0.22%             | 2060-11-01      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA MUNI FIN AUTH MF                                  | CUSIP: 130489AB3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   3960000 | PA      | $3838008.24   | 0.98%             | 2040-08-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2889741 | PA      | $2723581.61   | 0.70%             | 2036-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Santa Clara Valley Water District Safe Clean Water Revenue                      | SANTA CLARA VLY CA WTR DIST SAFE CLEAN WTR REVENUE           | CUSIP: 80168EAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1947050.08   | 0.50%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                          | LOS ANGELES CA UNIF SCH DIST                                 | CUSIP: 544647GT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2035000 | PA      | $2280068.95   | 0.58%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                 | INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK                  | CUSIP: 45528U3C3<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2047226.40   | 0.52%             | 2052-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salem-Keizer School District No 24J                                             | MARION & POLK CNTYS OR SCH DIST #24J SALEM                   | CUSIP: 569203PL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3032552.40   | 0.78%             | 2037-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Water Reclamation District of Greater Chicago                      | CHICAGO IL MET WTR RECLAMATION DIST GREATER CHICAGO          | CUSIP: 167560TL5<br>LEI: 254900GOGQEZEWCZ4D37 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3046240.80   | 0.78%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tustin Unified School District                                                  | TUSTIN CA UNIF SCH DIST SCH FACS IMPT DIST                   | CUSIP: 901072KU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $486075.86    | 0.12%             | 2029-08-01      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                          | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | CUSIP: 64972CKE2<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    965000 | PA      | $965285.45    | 0.25%             | 2030-11-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Oregon City School District No 62                                               | CLACKAMAS CNTY OR SCH DIST #62C OREGON CITY                  | CUSIP: 179162LR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1864031.23   | 0.48%             | 2042-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Valparaiso IN                                                           | VALPARAISO IN EXEMPT FACS REVENUE                            | CUSIP: 92028RAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1203423.75   | 0.31%             | 2044-01-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                            | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX      | CUSIP: 89602HGG6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3252029.70   | 0.83%             | 2040-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Airport Passenger Facility Charge                            | ATLANTA GA ARPT PASSENGER FAC CHARGE REVENUE                 | CUSIP: 04780TEW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1560559.20   | 0.40%             | 2041-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                | MARICOPA CNTY AZ INDL DEV AUTH EDU REVENUE                   | CUSIP: 56681NGJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $245687.50    | 0.06%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Warm Springs Reservation Confederated Tribe                                     | WARM SPRINGS OR RESERVATION CONFEDERATED TRIBES              | CUSIP: 934312AR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $737991.19    | 0.19%             | 2025-11-01      | Fixed         | 2.02%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                              | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 65000B8N1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    875000 | PA      | $901617.85    | 0.23%             | 2041-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Battery Park City Authority                                                     | BATTERY PARK CITY NY AUTH                                    | CUSIP: 07133AJM5<br>LEI: 549300RF3SFDOWRHVM56 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4106533.20   | 1.05%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of California                                                        | UNIV OF CALIFORNIA CA REVENUES                               | CUSIP: 91412HVS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3186891.60   | 0.82%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                           | CUSIP: 12008ERJ7<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |     80000 | PA      | $80559.49     | 0.02%             | 2027-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                      | MICHIGAN ST FIN AUTH ACT 38 FACS SENIOR REVEUE               | CUSIP: 59447NAX4<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    600000 | PA      | $630853.56    | 0.16%             | 2040-02-29      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| South Bayside Waste Management Authority                                        | S BAYSIDE CA WST MGMT AUTH SOL WST ENTERPRISE REVENUE        | CUSIP: 83646ADA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1465000 | PA      | $1468350.16   | 0.38%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wasatch County School District Local Building Authority                         | WASATCH CNTY SCH DIST LOCAL BLDG AUTH LEASE REVENUE          | CUSIP: 936785AU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3652284.30   | 0.94%             | 2047-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Whatcom County Public Utility District No 1                                     | WHATCOM CNTY WA PUBLIC UTIL DIST #1                          | CUSIP: 962468FS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1272927.87   | 0.33%             | 2040-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584XNV9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507529.40    | 0.13%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                               | OREGON ST FACS AUTH REVENUE                                  | CUSIP: 68608JYP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150000.00    | 0.04%             | 2025-07-01      | Fixed         | 1.51%                 | No            |                  2 | On Loan: No      |
| Port of Portland OR Airport Revenue                                             | PORT OF PORTLAND OR ARPT REVENUE                             | CUSIP: 7352403D3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1576524.45   | 0.40%             | 2039-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fairfax County Economic Development Authority                                   | FAIRFAX CNTY VA ECON DEV AUTH REVENUE                        | CUSIP: 30382EHE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1374411.52   | 0.35%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH REVENUE                                  | CUSIP: 45506EGV9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062220.00   | 0.27%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                              | DETROIT MI                                                   | CUSIP: 2510935M8<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    750000 | PA      | $733008.08    | 0.19%             | 2027-04-01      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| Sparta Area School District                                                     | SPARTA WI AREA SCH DIST                                      | CUSIP: 846754KW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1052003.94   | 0.27%             | 2040-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Berkeley County Public Service District                                         | BERKELEY CNTY WV PUBLIC SVC DIST WTR REVENUE                 | CUSIP: 084246NU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522282.90    | 0.13%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Portland OR Airport Revenue                                             | PORT OF PORTLAND OR ARPT REVENUE                             | CUSIP: 7352404F7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6134541.00   | 1.57%             | 2045-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Tax Fund                        | MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | CUSIP: 59260XCB2<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2608223.50   | 0.67%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                              | DETROIT MI                                                   | CUSIP: 2510935Z9<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    600000 | PA      | $652857.66    | 0.17%             | 2031-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EP Cimarron Ventanas PFC                                                        | EP CIMARRON VENTANAS PFC TX RSDL DEV REVENUE                 | CUSIP: 26879QAN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1899718.00   | 0.49%             | 2039-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| City of Groton CT                                                               | GROTON CITY CT                                               | CUSIP: 399280E93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974872.40    | 0.25%             | 2042-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                          | IOWA ST FIN AUTH SOL WST FACS REVENUE                        | CUSIP: 46246YAB8<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1443701.52   | 0.37%             | 2042-01-01      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                      | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445X87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1848945.12   | 0.47%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI STUDENT HSG REVENUE                       | CUSIP: 74439YEX5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    960000 | PA      | $979707.17    | 0.25%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                              | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64985SJW4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    250000 | PA      | $262186.53    | 0.07%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                           | SAN ANTONIO TX EDU FACS CORP REVENUE                         | CUSIP: 796247DN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $538222.36    | 0.14%             | 2026-04-01      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                      | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445C23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3391757.12   | 0.87%             | 2039-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH STUDENT HSG REVENUE                      | CUSIP: 45471FAD3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    800000 | PA      | $820444.08    | 0.21%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                             | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QSV6<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1486444.35   | 0.38%             | 2038-10-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Eagle River Water & Sanitation District Wastewater Revenue                      | EAGLE RIVER CO WTR & SANTN DIST ENTERPRISE WSTWTR REVENUE    | CUSIP: 26982VFD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1820000 | PA      | $1601707.20   | 0.41%             | 2052-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | NEW JERSEY ST HSG & MTGE FIN AGY REVENUE                     | CUSIP: 64613AFV9<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   3620000 | PA      | $3635076.94   | 0.93%             | 2032-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                            | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TNX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1135398.84   | 0.29%             | 2036-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                               | OREGON ST FACS AUTH REVENUE                                  | CUSIP: 68608JYV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $210394.85    | 0.05%             | 2031-07-01      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                            | MASSACHUSETTS ST HSG FIN AGY HSG REVENUE                     | CUSIP: 57587GXJ9<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1960880.60   | 0.50%             | 2043-12-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Missouri Joint Municipal Electric Utility Commission                            | MISSOURI JT MUNI ELEC UTILITY COMMISSION PWR SUPPLY SYS REV  | CUSIP: 606094DU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2096729.60   | 0.54%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Regional Transportation District Sales Tax Revenue                              | REGL TRANSPRTN DIST CO SALES TAX REVENUE                     | CUSIP: 759136UY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $983058.90    | 0.25%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Water & Wastewater Revenue                                   | ATLANTA GA WTR & WSTWTR REVENUE                              | CUSIP: 047870TF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1262870.60   | 0.32%             | 2043-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                           | SAN ANTONIO TX EDU FACS CORP REVENUE                         | CUSIP: 796247DQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1114048.61   | 0.29%             | 2028-04-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                           | CUSIP: 12008ERN8<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100090.68    | 0.03%             | 2031-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fairfax County Economic Development Authority                                   | FAIRFAX CNTY VA ECON DEV AUTH REVENUE                        | CUSIP: 30382EHF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1504370.57   | 0.39%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Whatcom County Public Utility District No 1                                     | WHATCOM CNTY WA PUBLIC UTIL DIST #1                          | CUSIP: 962468FT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057137.90   | 0.27%             | 2041-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Warm Springs Reservation Confederated Tribe                                     | WARM SPRINGS OR RESERVATION CONFEDERATED TRIBES              | CUSIP: 934312AU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1121362.64   | 0.29%             | 2028-11-01      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| CONSERVATION FUND                                                               | Conservation Fund A Nonprofit Corp/The                       | CUSIP: 20848FAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3453000 | PA      | $3262049.45   | 0.84%             | 2029-12-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-25

**Name of Applicant:** Calvert Management Series

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer